Investment property intown or in the 'burbs

Asked by Scott, Boston, MA Wed Apr 2, 2008

I'm relocating to the area and am looking to invest in a property that I can live in/rehab for a few months then rent out. I'm trying to narrow down an area for my search and wanted some opinion on the strength of the rental market in the Edgewood/Kirkwood area compared to East Cobb/Roswell/Alpharetta.

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4
Sarah S. Tur…, Home Owner, Atlanta, GA
Thu Apr 3, 2008
Last year the AJC released an article about the top neighborhoods to invest in, in Atlanta the Atlanta Metro area, and they were all intown neighborhoods. I've searched the archives for the last half hour and can't find it. If anyone else has it on file - I encourage you to post it.

I remember it mentioning Howell Station, and Edgewood - it also mentioned 5 or six other neighborhoods. Flipping houses in this market isn't always working to the flippers advantage, however if you're planning on living in the home for 2-5 years, you can definitely see a great turn-around in most intown neighborhoods. I encourage you to check out Edgewood, Kirkwood, the Memorial-side of Grant Park, Reynoldstown, Howell Station, Ormewood Park, East Atlanta (near the village) and Oakhurst (near the village) for the highest turn-around.

The movement is definitely intown. I am coming across a lot of empty nesters looking for city excitement interested in high-end high-rises to family's not wanting the commute, and opting for a big old house or mcmansion intown.

Many still prefer the suburbs, and if your job is in the suburbs, by all means: live in the suburbs. I would never encourage anyone to fight Atlanta traffic on a daily basis for anything in the world.

Good Luck in your search & if I can be of any service to you - don't hesitate to contact me!



Sarah Turner
Realtor
sarah.turner@yourownsanctuary.com

Sanctuary Real Estate, Inc.
1031 Juniper Street, NE | Atlanta, GA 30309
T: (404) 888-0833 | F: (404) 888-0863 | M: (404) 323-9976
http://www.yourownsanctuary.com
0 votes
Jay M, Both Buyer And Seller, Atlanta, GA
Thu Apr 3, 2008
Edgewood/Kirkwood area would more than likely be more appealing to you and to your future renters. We are looking at Kirkwood right now and it's far more appealing and boston like then the other areas. The only problem you might have is not wanting to leave kirkwood after fixing up the house. ;)
0 votes
Lee Taylor, Agent, Decatur, GA
Thu Apr 3, 2008
Good answers from Judy.

Think about this...Creative Loafing magazine recently stated the following:

1. #1 reason to love Atlanta = affordable housing
2. #1 reason to hate Atlanta = traffic

Scott, if you move here, seek the area that works best for you and your lifestyle.

Yopu've chosen two dramatically contrasting areas. Take a look at the attached statistics article, and come down here and get your real estate on.
0 votes
Judy Wittenb…, Agent, Suwanee, GA
Wed Apr 2, 2008
Hi Scott,
I just did a quick search to give you an idea of how many leases each area had since the beginning of the year. These numbers do not include any rental agrements that were not done throught a Real Estate Agent. It will give you a good idea of the rental activity which is taking place all over Atlanta due foreclosures and difficulty getting a loan.

Again....I did this quickly. I can go into more depth if you want to contact me.

Intown Atlanta - 502
Roswell/East Cobb - 87
Alpharetta - 154

Hope that is helpful. I will be glad to help you further. Judy
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