I'm interested in the best investment property in the Atlanta Area. I would like to see a return within the

Asked by Cjp46, Atlanta, GA Mon Dec 29, 2008

next 5 years. I would like to be within 30 minutes to the city. Where should I look? Do any agents have properties they reccomend? I want to be able to rent the home out or live in myself.

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8
Hank Miller, Agent, Alpharetta, GA
Mon Dec 29, 2008
Too open ended a question - but I would caution you as I do every "investor"....the roads are littered with investor bodies right now - many short sales and foreclosures are "investor" owned. As Josh mentioned the skilled investors buy right immediately so that when they have to move property sooner than expected they don't get creamed. I know and work with many experienced investors and they are making money because they are machines - all business and they will evaluate a deal in minutes.

The City of Atlanta is saturated with homes sitting - in some "hot areas" ridiculous numbers of homes are spiraling down in price. Several condo projects are now going apartment - opposite what the trend was a few years ago. There are no sure things so unless you are going in with your eyes wide open you should be careful.

Hank
1 vote
Joshua Jarvis, Agent, Duluth, GA
Mon Dec 29, 2008
There's a lot of great property out there but you need to define your criteria more clearly.

I would venture to say almost ANY property you buy will see a return in the NEXT 5 YEARS! So that's an easy one.

As an investor, you'll want to look at your ROI, but also your goals. How much rent is necessary? Do you want additional tax shelter that a fixer upper might provide or just high rental income?

As for living in the home and seeing a return, where do you work and what is going to be convenient.

Investors make their money going in, so a good investor will be able to buy a home and should be able to sell it in the short term IF THEY HAD TO, but the good money is hanging on to the property.

Good Luck
1 vote
Tori Lawson,…, , Fayetteville, GA
Mon Dec 29, 2008
Hi Cjp46,
How much are you looking to spend? Are you paying cash or do you currently have or need a lender?
Web Reference:  http://www.torilawson.com
1 vote
Bonita Willi…, , Palm Beach County, FL
Tue Jan 6, 2009
Hello CJP46

In addressing your question, well the best ROI depends on where you ultimately decide to purchase and live. One person investment may not be the ultimate choice of another’s person choice. You are unique and so are your choices in life.

There are some properties within the Downtown, Midtown areas that may be to your liking and there are some other properties I have located that are within 30 minutes drive (with no ATL traffic) from the Lenox Mall area.

Feel free in contacting me – as I would enjoy being your agent and helping you procure the BEST investment.

Respectively,

Bonita
(404) 419-3698
Keller Williams Peachtree Road
0 votes
Jeff Anthony, Agent, Kennesaw, GA
Thu Jan 1, 2009
All great answers from Hank, Lee and Josh.

Keep this in mind when judging properties... The "deals" out there right now can be exactly that, a "deal" Be careful of what you feel like might be a low price. You get what you pay for... The inventory levels of foreclosure homes in a majority of Atlanta is very high. So while you may feel like you are getting a deal you need to have a professional in the area you are looking that can verify the "value" of the property, and be able to give you a figure of how many foreclosures are in the area you are targeting.

My advice would be to look in area's that do not have a large number of listings for the price point you feel is comfortable for your budget. Have your realtor take a look at the number of homes on the market for that area. Look at the average price for those listings, DOM, how much are they pulling in rent, does it cash flow and for how much, what is your exit strategy for the property, what are the upcoming commercial projects coming up in the area that the general public may not know about that could help the value of your investment. Something that still holds true even in this volatile market is the old concept of supply and demand. Find an area with a low supply and you will more than likely come out ahead.

Personally, I'm a big fan of Smyrna if you are looking to be around the top end of the perimeter and close to Atlanta. If you can come out of around the Perimeter, take a look into Alpharetta, Roswell area. Very centrally located and tends to have a lower foreclosure rate as compared to the rest of metro area.

Dont laugh too hard at my picture... I just like to keep some humor in the process...

Hope this helps
Jeff
0 votes
Lee Taylor, Agent, Decatur, GA
Mon Dec 29, 2008
Cjp46,

You have excellent advice here and as Hank and Joshua pointed out, there are some obvious answers to your questions.

Kevin and Tori make it clear that Trulia Voices is a great conversation starter, but we all need to ask about 5 to 10 direct questions just to establish some level of qualification for exactly what you are attempting to do.

In my opinion, the closer that you are to the urban core of Atlanta, or to the core of the better suburban centers (like Dunwoody Village, Smyrna Village, and a few other areas that are within 30 minutes of downtown) the better.

If I were you and if you do not want to invest more than $25,000-30,000 in a downpayment on a 90% LTV mortgage, then I would choose East Atlanta Village, Kirkwood, and Grant Park for cool neighborhoods that get you what you want. I can name Toco Hills, Decatur Terrace and Howell Station too, if you need more choices.

Buy a house that already has 2 functional bathrooms and a functional kitchen and you are on your way. Buy a house with covered parking. Buy at least 1/3 of an acre. Buy a brick house. Choose good immediate neighbors and walking proximity to a retail and restaurant district.

Get your real estate on, and call a few of us to interview and to identify a talented Realtor who can help you make an informed purchase decision.
0 votes
Veronika Bar…, Agent, Roswell, GA
Mon Dec 29, 2008
The very best investment in Atlanta will be a single family house:
1. If you want to live there - Sandy Springs, Dunwoody (!), Chamblee, Morning Side, Virginia Highlands, Emory University area - anything inside or close to hwy 285.
2. If renting, any properties close to 285 OR best schools area (Alpharetta, Roswell, East Cobb).
All depends on your price range and level of comfort. Will be glad to discuss in greater details. 678-230-4235
Web Reference:  http://www.barashhomes.com
0 votes
Kevin Harden, , 30306
Mon Dec 29, 2008
Great. We probably need a little more info to help. You can either email or call me.

Thanks!

Kevin
404-388-8723

Kevin@HardenRealEstate.com
0 votes
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