Looking for investment property between 60K-120K where in Atlanta would I get the best bank for my buck in terms of rent

Asked by Pnbpatter1, California Wed Mar 24, 2010

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atllkg’s answer
atllkg, Home Buyer, Atlanta, GA
Mon Apr 1, 2013
The Westview area has some great bargains and good rent. Close to several universities and next to the West End which is a designated Historical District. People will try to steer you away from the area. It went through a really bad time with the foreclosure mess. The zip, 30310, had one of the highest mortgage fraud levels in the country. Lots of foreclosures now. Many have been picked up and rehabbed. Can buy in your price range and get up to $1K per month in rent. Neighborhood is 1930's solid bungalows, mostly brick. Taxes are very low. Definitely an urban pioneer area. If you're willing to hold for several years, could have a nice return. Very active neighborhood association. Also Westview includes the new BeltLine area and is the first section complete. You won't be able to get property in your price range on the BeltLine but you can get close. Not an agent here.
0 votes
Scott Askew, Agent, Atlanta, GA
Wed Mar 24, 2010
Single-family, detached, (a house) is the better investment. The condo market is so over built...We have a harder time finding tenants for the condos we manage than houses.

Like Mr. Mceachern stated, stay around the Perimeter Highway (285) and inside 285 if possible for the best income potential.
1 vote
Bill Piper, , Atlanta, GA
Thu Mar 25, 2010
Since you'll be an out of town landord, and based on what you're willing to pay, the advice you already have is good. I suggest you pick an area that you like the stats in, and buy your homes there. You'll need a local realtor for that. Find a good one and get tight with them. You can find property to buy much cheaper than your range, but the areas are transitional and the work is hand-on and you have a lot of turnover in tenants.

I'm a South Atlanta Realtor, so guess where my recommendations are....

Fayette County - Great schools, great living, close to Atlanta, never more than about 50 homes to rent ever. The smallest single family home rents for at least $1000 a month. But - not many foreclosures (never more than 10) Good luck finding anything to buy under $100K.

Intown higher end neighborhoods- Never much for rent in there, so you should be able to rent whatever you buy there. Good luck finding anything in your price range.

Coweta County - New hospital going in that should bring many jobs and create a greater demand for both long and short term rentals. Good schools. Good living.

Henry County - You have to pick your schools and neighborhoods, and they may take a little longer to rent, but there is good inventory on foreclosures.

By the way, if you've never done this before, I suggest you do it where you live so you can keep your hands on it.

Good Luck
1 vote
James Dudley, Agent, Suwanee, GA
Wed Mar 24, 2010
I look for properties for several investors.

In my experience buying a single family home in some of the top school districts around Atlanta and in the Burbs is a good investment.

Many people who have gone through tough times such as bankruptcy, foreclosure, etc. cannot get financing to buy a home, but they want to rent a home where they can keep their kids in good schools.

In addition this will gain you a better tenant and a possible sale later down the road.

Let me know if I can assist you in finding some of these properties. Our company has an extensive inventory of foreclosures and I work closely with several foreclosure agents working with other brokers as well.

You can reach me through my Trulia Profile.
1 vote
Jojotrotter, , Nashville, TN
Thu Apr 10, 2014
Mechanicsville, its the next Grant Park.
0 votes
Lee Taylor, Agent, Decatur, GA
Fri Apr 2, 2010
Where are you getting your data?

What are you thinking so far? What neighborhoods are you seeing that make sense?

If you tell me 30310 or 30032, then I'll say cut your price goal in half...

If you tell me 30317 or 30312, then I'll say that you are going somewhere.

Bill and Scott got my thumbs up. In your price range, I advocate for duplexes too.
0 votes
Jeff Baillis, Agent, Atlanta, GA
Thu Mar 25, 2010

We have a number of fully renovated properties in that price range that will generate good positive cashflow. All new electrical and plumbing. We can also manage anything we sell you and will guarantee the rent of the existing tenant for 6 months.

Contact me through this site if you want a list of available properties.

Good luck!
0 votes
Dan Chase, Home Buyer, Texas City, TX
Wed Mar 24, 2010
I would contact Hank Miller. He knows his stuff. He knows the area. He knows markets down to a very small level. He pulls no punches and says things that you might not want to hear, but are the truth. There are only a handful of realtors I say to contact on here. He is one.

His profile is below. He is also an appraiser so he can really help to nail down a price on a house. WHat more can you ask for?
0 votes
Aaron Mtuanwi, Agent, Conyers, GA
Wed Mar 24, 2010
Any where can find properties in that price range should give you the best bank for your bucks. There are some newer developments in Lithonia and Decatur Dekalb area that are selling as condos.

Get a Realtor to look around for you. If you can find one, contact me. I can HELP.

Aaron Mtuanwi
Solid Source Realty
0 votes
David McEach…, Agent, Peachtree Corners, GA
Wed Mar 24, 2010
If you are looking in the condo market then anywhere from Buckhead to downtown is the best area. Strong rental market there and prices have been shoved down big. If it is a single family residence then homes along the Perimeter highway is good. There are areas in Tucker and Smyrna that allows for easy access to downtown.
0 votes
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