Would you live in the market before you buy?

[Henrik Arnroed]

Hey all.

I have my eyes set on Atlanta (and eventually a few other areas in GA) to invest in. This will be my first property and I plan on house-hacking (hopefully a multifamily) and applying the MTR strategy. I am currently based in Boston but can move to Atlanta and keep my job from October onwards. The other option, however, is that I can live more or less for free for the rest of the year between a few family members and friends and save that bit of extra cash towards the purchase.

The extra cash could either help me jump on a deal sooner or it could be a buffer/money for potential renovation when I move in. However, the time I could spend in Atlanta before buying might help me avoid headaches by getting to know the market even better than my research.

I currently do not have an investor-friendly agent there, but I do have a real-estate contact here in Boston who lived there for 20 years.

I am interested to hear your thoughts and what you'd do, if you were in my shoes.

[Theresa Harris]

It is a lot to ask of friends and family to couch surf for several months-a week or two, perhaps.  Not to mention if you are working, moving between places isn't ideal.

Do any of the family or friends live in Atlanta?  If so, talk to them about areas to avoid or areas to target.  Talk to your friend in Boston who lived in Atlanta (assuming they lived there relatively recently as cities change). As they are a realtor, ask them for recommendations of a good realtor down there.

Go for a trip there to look at places and get a feel for the neighbourhoods you think would work. Don't just go during the day, but visit the areas in the evenings.  In some areas, winter is a good time to buy as there are fewer sales, so you can get a better deal.

[Bob P.]

Quote from @Henrik Arnroed:

Hey all.

I have my eyes set on Atlanta (and eventually a few other areas in GA) to invest in. This will be my first property and I plan on house-hacking (hopefully a multifamily) and applying the MTR strategy. I am currently based in Boston but can move to Atlanta and keep my job from October onwards. The other option, however, is that I can live more or less for free for the rest of the year between a few family members and friends and save that bit of extra cash towards the purchase.

The extra cash could either help me jump on a deal sooner or it could be a buffer/money for potential renovation when I move in. However, the time I could spend in Atlanta before buying might help me avoid headaches by getting to know the market even better than my research.

I currently do not have an investor-friendly agent there, but I do have a real-estate contact here in Boston who lived there for 20 years.

I am interested to hear your thoughts and what you'd do, if you were in my shoes.

I wouldn't necessarily move to an area before I'd invest there, but I would spend a week getting to know the neighborhoods first hand.