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Updated over 1 year ago,

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[Atlanta] Help a Digital Nomad game plan his real estate dreams

Christopher Shei
Posted

Long term goals
My dream is to own multiple real estate properties in various locations, rent them out so they cashflow, and also have a place to stay whenever I visit that city. Ideally these would be STR's, so I can stay there whenever I'm in town.

Short term goals
For my first investment my main goal is mainly learning. I’d like to decrease my rent costs as well, build my network (find contractors, etc), and have a place to call home as I’m living out of a suitcase right now and all my stuff is in storage. Obviously, would like a “good deal / investment” as well.

Current plan
Leaning towards house hacking a duplex, or some SFH that has separate entrances so it feels like a duplex. I also contemplated getting an apartment / condo (2 bedroom) and just Airbnb'ing the whole unit (whenever I'm gone), or room by room. I'm quite flexible, especially because I could + do travel a lot.

Finances
- Income 130k+ a year
- Credit score - 800+ 
- Ideal downpayment - 30-100k (could go higher), although open to an FHA loan as well.
- Price range (300-500k, although it could be up to 1 mill, but I would prefer starting smaller) 

Location
I’m leaning towards Atlanta right now due to its affordability and size of the airport. Open to other suggestions for cities, but ideally they are close to a big airport (e.g. 20 minute drive). Regarding neighborhoods, and location, ideally something somewhat safe, rather walkable with things to do nearby (as I don’t have a car), and somewhat close to a Marta station maybe.


Questions + Feedback
I'd love your thoughts + feedback!
- What should I do first? Secure financing? Find a good real estate agent? Read more blog posts?
- Is this reasonable? Would you recommend a Condo / SFH / Multi unit first?
- How should I approach this?
- What are some resources you recommend reviewing?
- What neighborhoods in Atlanta do you recommend?

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