Gleon, Home Buyer in Fort Lauderdale, FL

I've been looking in Atlanta for investment rental properties. How is the rental market in Savannah for investors? I've heard Savannah is very nice.

Asked by Gleon, Fort Lauderdale, FL Mon Dec 3, 2012

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Gleon, The investment market in Savannah can be a good one, if you buy your property right. There are many investor "players" in Savannah lured in twofold by the tourists we have here almost year round as well as by the large student population that resides here (SCAD, Armstrong Atlantic, Savannah State, now Mercer Law, Savannah Tech, etc).

The investors I've worked with looking for student housing are more interested in long term holds in multi family units (typically for me a quadraplex or sometimes triplex). We work together to look for undervalued jewels in the rough with potential. We typically look at the Victorian, Eastside, Metropolitan, or Cuyler Brownsville areas. We tend to "follow SCAD" a bit -- and the college continues to tread south into the Ardsley Park and Bingville areas (opening a new dorm at 52nd and Montgomery next in 2013).

Vacation Rental investors are wanting to be in the thick of downtown's rich historic district. Occupancy rate for most of the properties I manage tends to trend between 66% year round on average. Most investment buyers are looking for THE location -- parking, walkability, updated features. If they will use the property as a second home, they want to be able to enjoy it while I manage it for them the rest of the year.

When looking, you will always want to remember that Savannah is a historic town on the coast. If you are going to be an absentee landlord, you will want to have finishes that are weather resistant like brick instead of wood or hardiplank siding. Of course you will want an inspection and termite report before moving on anything here.

Feel free to call or email with any questions.

Best, Laurie d., deVegtergroup.com
0 votes Thank Flag Link Thu Dec 20, 2012
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