Atlanta?

Hello all,

I have been doing some reasearch on investment areas to buy property and Atlanta GA keeps coming accross my desk.

What feedback do other investors who have properties in Atlanta think about this area?

What advice would you give to someone that does not have a property in Atlanta yet?

*Best Areas to purchase?

*What to pay for a property ?

*Type and size?

*Whats the Rental Market like?

*Property Management concerns?

  • Insurance cost?

*Taxes?

*Futrue Appreciation?

*Exit Strategy?

*Any other considerations or experiences from seasoned investors?

Thank you.

I have a friend who buys and rehabs homes and builds new construction in the north atlanta suburbs. He does extremely well. I also have a contact there who has alot of short sale properties she sells to investors for rentals; I believe they offer property management services (or at least a referral for one).

Thanks Steve,

Does anyone else have any feedback on Atlanta?

[quote author=wallacehobbs link=topic=35099.msg166759#msg166759 date=1204729362]

I’m live in Atlanta, but I’m not an experienced investor, so I’ll only say what little I have seen. I see a lot of properties going for sale out here and housing prices have dropped as they have everywhere. I suspect there are some real bargains out there, but I haven’t dug deep enough to know for sure. Builders have been playing games like “first 6 months free” and “next buyer gets this car”. I’m not kidding about the car, it was parked in front of a subdivision with a sign in the window!

Atlanta has tons of deals man it is crazy with the opportunity and people are steady moving

here so it is a great combination because alot of people don’t know where to move, or the

hidden parts in Atlanta so it’s great. This market compared to other markets in the country is

heck of alot better, I say by 30%.

Al

The Atlanta market is filled with homes for sale, foreclosures and borrowers whom are upside down on their mortgages. This creates opportunities, but be aware that the market is overbuilt with more inventory in process so sales and rentals will likely be soft. Neighborhood and property selection is important.

Neighborhood and property selection is important.

This is what I wanted to know? :cool

Are you talking about rentals? How in the world do you manage a rental in atlanta if you don’t live there?

If I didn’t live 15 minutes from all of my properties it would be a freak circus. I must be doing something wrong.

John you are kiddingme right?

Anyone else want to field this one so I can find out if
I am living in a bubble here?

That would be my gues - LOL! (just kidding!)

I’m with John. I’m a hands-on guy, too. I want to be near my properties. I don’t want a management company making $$$$ decisions for me at a distance of 800+ miles.

Each to his/her own, though.

Keith

I met a investor in a seminar awile ago may be 6 monts, he was singning the praises of the GA market. This was and investor/developer guy, he would be a great contact to have. As a bonuse listen to the people who are investors in the area you want to go to, or people who already own in that area. Good luck

Wallace,

I am a long distance investor with rental properties in states where I do not reside. I would have no problem investing in Atlanta as a long distance investor if I had a competent property manager in place. I have and have had friends who lived in Atlanta suburbs and who speak highly of the real estate opportunity right now.

1031 exchange is one of my primary exit strategies. If this would be yours too, you need to be aware that GA does not recognize a 1031 exchange if the replacement property is located out of state. If you use a 1031 exchange in GA for an out of state replacement property, GA will tax the relinquished property sale. This reason and this reason alone is why I don’t invest in GA.

Dave, Wow GA is a bit sneaky, I had no idea they did not recoginze a 1031 Excahange IF the next property was located out of state, good information to know, thanks!