Home Buying in Atlanta>Question Details

avivite, Home Buyer in Atlanta, GA

We are looking to purchase a house as investment and rent it for the next 10-20 years as a future income when we will retired. Can you help us?

Asked by avivite, Atlanta, GA Thu Jan 24, 2013

We are looking for an agent we can trust to work with to find the best area for us to do so? Florida, Arizona, Atlanta? And help us with the management afterwards. Can you recommend on someone and where would be the best place to buy?
Thank you, Avivit

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Answers

16
Avivite,

I suggest you buy a home somewhere that you are personally familiar with and will be able to visit often. The house next door may be perfect for your purposes, or maybe someplace where you like to vacation. Even if you plan to hire a property manager, and it sounds like you do, there is no substitute for being able to drive by and check on things.

Much can change in 10-20 years; not just the home, but the neighbors, the street, the neighborhood and the town. Resort towns go in and out of fashion, industries leave town, gentrification happens, and so does the opposite. Do not put yourself in a position where you will just be taking somebody's word for it that everything is just peachy.

Best,

Dave Herren
Best Atlanta Properties
404-425-4945
2 votes Thank Flag Link Fri Jan 25, 2013
Hi Avivit,

Are you familiar with the Atlanta market and neighborhoods at all? One thing about Atlanta is that there are a ton of micro markets. Each neighborhood has a different feel to it and can play an important part in what kind of tenant you have. Also of course your budget plays a big part as well.

If you would like I'd be happy to explain all the areas of Atlanta, along with price points and possible rental income. And also point you in a direction where you may see possible growth in equity. Feel free to contact me anytime.


Tyler Willis, REALTOR®
Keller Williams Realty Intown Atlanta
621 North Ave NE, Suite C-50
Atlanta, GA 30308
Office: (404)541-3500
Direct: (678)656-5524
tylerwillisintown.kwrealty.com
2 votes Thank Flag Link Thu Jan 24, 2013
There are definitely some great answers here, I would definitely recommend speaking to an agent that has an OICP certification in your area. You can an agent that has this certification by visiting ownamerica.com

As I definitely agree that hiring a property manager is better than being a property manager yourself and living close by to drive by and see the property is the best way to go, it makes more financial sense when you have more than just one property to hire a property manager.

You have to remember that when you have a rental even if it's just one rental, it's just like running a business. Are ou ready to deal with all the financial headaches of owning an investment property? Are you willing to evict tenant's if you need to? Who is going to do the repairs on the property? Do you have money to cover vacancy rates? etc. These are all questions you need to ask yourself before deciding to become a landlord.
1 vote Thank Flag Link Sat Feb 16, 2013
Glad you brought that up Debra. I have seen this spammer posting answers to a number of questions with the reply containing an email address in the UK. I hope you and everyone else here flags this responses as spam. Shame they don't have a spot for scam instead of spam.
0 votes Thank Flag Link Mon Feb 18, 2013
Hi Donald and Debra. I just wanted to let you know that Trulia is aware of this scammer and we are dealing with the problem. Thank you for your vigilance! - Andrew, Community Manager, Trulia Atlanta.
Flag Mon Feb 18, 2013
You're right. Once I realized it was a scam not spam, I emailed one of the trulia moderators with a link to the 2 different people (probably the same person) posting this nonsense. I googled the name in the email address posted - lexington financial house- and saw it come up as a fraud!
Flag Mon Feb 18, 2013
ps

so glad Diana clarifies in all of her multiple posts that she is from "New York City, USA" ! ....haha

hey - it might have been NYC in another country!

(wonder what country Dianna is from...based on the email address she/he is promoting, maybe the UK ?)
0 votes Thank Flag Link Mon Feb 18, 2013
be wary of the several faceless repsonses here that originate from GA, yet are supposedly posted by people in other states..............they seem to be making the rounds on trulia............

I suggest you reach out to local agents whose profiles and identities you can verify.

Best wishes....
0 votes Thank Flag Link Mon Feb 18, 2013
It depend on how much money you have now to invest. I made a mistake --but never recommend to
just buy one house and keep for 20 years. How old are you ? How is your health ? How is your job
situation ? Is your wife ( spouse ) also working ? Are you planning to move into this house when Retire
or just keep for the income only ? Do you currently own a house ? Free and Clear ? Most agents do not provide this type consulting --they will just push you to buy a house to get Commission. Experienced brokers do not have time --to Coach you --you have to explore --learn --and make decisions --have some parameters defined to go for looking for a house. listen to John Adams
radio show --from Atlanta --or on line ( i believe ) Money99.com and Illyce Glink out of Chicago,
on AM radio --Sunday -- Find a good investor / rehabber - to save lot of money --Many Bank
reposessed homes available at 65% to 70% value.
0 votes Thank Flag Link Tue Feb 5, 2013
I can't make the decision as to who gets a best answer to your question, but Dave Herren was right on the money. I've been in this business for more than 20 years and I couldn't agree more with his answer.

Don
0 votes Thank Flag Link Tue Feb 5, 2013
Avivite,
I work for a large real estate acquisitions firm. We are a full service brokerage that dedicates 100% of our time to finding great deals for investors. We acquire investment type properties for investors and we do about 15-30 transactions out of each one of our offices. We dedicate 100% of our time to finding great deals. If you are interested in the great deals that we have you can contact me at:

Mike Lam
New Western Acquistions
214-862-6040 / 404-919-9487
Mike.Lam@newwestern.com
http://www.NewWestern.com
0 votes Thank Flag Link Tue Feb 5, 2013
I have a fully rehabed property in north Atlanta that might work for you.

Give me a call to disscuss.

Best,

Robert Whitfield
Broker/Owner
Professional Buyers Broker
New Home Construction Expert
ICC Code Certified Building Inspector
Advantage Realtors
678-585-9691
RobertWhitfield.com
TheHomeBuyersRep.com
Corporate Relocations | New Construction | Luxury & Investment Properties
0 votes Thank Flag Link Fri Jan 25, 2013
Avivite,

From Atlanta, Florida is a great choice from a management and personal use perspective. In most of Florida's desirable heavy traffic vacation location a seasonal rental for 4-6 months can generate an income that equals or exceeds annual rentals in other locations.

We have many owners and part time visitors in our location from the Atlanta area. It's an easy drive for a long weekend or getaway to warm up. If you think you might have any interest in Sarasota County, we would be happy to hear from you.

Good luck with your search.

Bill
941-408-5363
billeckler@michaelsaunders.com
0 votes Thank Flag Link Fri Jan 25, 2013
Will you be living in the house after you retire? If so, you need to figure out what kind of life you'd like to lead at that stage of your life. That in itself will make a lot of difference in where you purchase a rental home in Atlanta. Please contact me and we can discuss it.
Stephany Cross
Keller Williams Metro Atlanta
404-422-0747
stephany@jimcross.com
Licensed agent since 1995
0 votes Thank Flag Link Fri Jan 25, 2013
Avivit-

I worked with Tyler Willis on 3 investment deals in the last 60 days. He is a great agent and knows how to locate great investments in the Atlanta market. My client has been very happy and we look forward to working with Tyler on future deals...

Justin Seeby, ABR, CLHMS, ALC, BPOR
Associate Broker
9 Mile Trolley Realty
Keller WIlliams
http://www.atlsells.com
0 votes Thank Flag Link Thu Jan 24, 2013
If you purchase in Atlanta, insure you have an inspection, I have been in the Inspection business for 20 years and do alot of inspections for investors and many are out of state.
http://garmonhomeinspection.com
0 votes Thank Flag Link Thu Jan 24, 2013
Hi Avivit,
To make an offer on a property, you should be represented by a Buyer’s Agent. The Buyer’s Agent will work on your behalf throughout the transaction. This is very important since the Listing Agent represents the seller.

If you need a recommendation on a Buyer’s Agent, please contact me at (404) 591-2453 or rodney.mason@prospect.mtg.com. I would be happy to put you in touch with someone who can assist you.

The seller of the property will want to make sure that you are qualified to purchase the property should your offer be accepted. Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Thu Jan 24, 2013
I have properties that range from 58K - 78K that have already been rehabbed, and some have tenants. What kind of ROI are you looking for, and are y ou paying cash?

Looking forward to helping you.

Stephan
Web Reference: http://www.stepreg.com
0 votes Thank Flag Link Thu Jan 24, 2013
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