We are looking for an owner-financing opportunity. There is a property in Alpharetta, GA that we
need assistance with. If this is an legitimate inquiry and serious interest please email
email@example.com and we can discuss further.
Thank you for your time,
Atlanta is a very excellent rental market at this time, due to high foreclosure in the Atlanta Area, If you want good rent able properties, look in the area of Dekalb, Lithonia, Decatur, Stone Mountain and some of enter city areas, the properties are much high and some of the area have been picked over closer to the Downtown area. I suggest you focus on very good communities, subdivision, that family settings.
Dekalb County have very cheap homes, most of the homes are newer. Look at http://www.hudhomestore.com, http://www.homepath.com for some listing.
There are a large number of people looking for good rental homes. One area to consider is Cobb County around Kennesaw State University. There is currently not enough campus housing, I have had a large number of older KSU students look for 3 and 4 bedroom homes in the Kennesaw and Acworth area. As this university continues to grow in leaps and bounds more housing will be needed.
This might be worth a quick read - http://hounddogrealestate.com/2012/04/19/are-you-an-investor
What are some good areas? What are your specific criteria? What price point? What are your terms? How are you financing purchases?
Too many choices without some serious narrowing of your criteria and terms?
About ten attornies stood on the courthouse steps in Dekalb today - about 200 investors were there - about 20 of them have plenty of money and know what they are doing...
There are areas have had big price depreciation 40-60% where you can get good cash on cash returns and good price appreciation Mostly Southern Eastern and Western suburbs. There are areas that have had huge price declines 60-85% inner city where you can get great cash on cash and little to no potential for price appreciation. There are other areas where values are high and have not declined substantially that are expected to have great appreciation but low cash on cash returns.
In the past 18 months I have represented about 40 investors who have purchased 100-120 properties. They fall into one of these three groups in terms of the property they purchase. We also lease and manage the properties. With the huge of share investor purchase in our market, nearly all going into rental rather than flip transactions, we are finding on renewals our tenants have the option to lease down the street for 10% or more less than what we signed them at last year, particularly in the more moderate priced, under 1000 rental rate properties we are having difficulty increasing and holding tenants at the 2010 and 2011 rental rates.
Where our overall cash on cash rate has been in the 9-11% range net of all expenses, new acquisitions are averaging in the 6.5-8 range. Recently we were outbid by offers 10-20% above list. It is not uncommon to have 10 to as many as 30 offers on a property within days of a property being listed. Some of this is incompetent agents pricing below market, add that to a lot of dumb money jumping in and a shortage of supply, it is very difficult to make a smart purchase this month. Hopefully that is temporary market condition. Many believe the market has bottomed and is in a sharp upswing. We were recently out bid on a home at 50K where we had purchased essentially the same home for 42K 6months ago. The market is currently over heated and we need some of these buyers to get burned for increases to ease.
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The rental market here is very active and strong. I have helped investors purchase property in all area's of Atlanta. Purchasing the properties is the easy part, the hard part is finding quality renters. If I can be of any help to you please feel free to contact me at 404.843.2500
Many investors are fighting to land good inventory to put into their rental 'pools'.
Dependant on your pricing objectives, most areas in and surrounding Atlanta are fair game.
We are working with investors who focus their energies on the northern half of the city and surrounding communities.
We have a very strong rental market here in Atlanta along with some bargain prices
for properties. You may want to consider the surrounding areas outside the city of atlanta
including gwinnett county which is seeing a heavy rental market and resales.
Contact me if you would like me to send you some choice properties or discuss this further.
Good luck with your real estate endeavors!
Better Homes and Gardens Real Estate Metrobrokers