Investing in Atlanta

[Sam Leung]

Hi Bigger Pockets, I am new(ish) to this forum and it's my first post. I've been listening to the podcast and have listened to Brandon's Book on Rental Property Investing and I have chosen Atlanta as my next market to invest in rental property. I am really impressed by what I see so far on BP and would appreciate any recommendations for realtors, property management companies, contractors, and portfolio lenders in the area. My goal in the short and medium term is cash flow and I would appreciate any recommendations for areas to AVOID in Atlanta as well. Thank you all in advance for your help! Sam

[Dan Mahoney]

@Sam Leung I live and work in Atlanta, so I am admittedly biased.  But I think it is a really interesting time to own affordable single-family homes in the City of Atlanta.  If you are looking in the southern half of the city, you are probably seeing that you can buy houses that rent for $1,000+ a month for less than $100k.  And unlike many of the cash flow-centric markets @Ali Boone listed, you have the potential for meaningful appreciation if the positive trends in many of these intown neighborhoods continue.  What's happening is that neighborhoods that used to be 100% renters (and often blighted with vacant houses) are becoming attractive to owner-occupants looking for affordable homes and short commutes.  To be sure, home prices in lower-income neighborhoods are quite sensitive to economic conditions and availability of financing, so a recession or credit crisis could quickly stop (or at least delay) the positive trend. 

I'll add the caveat that I believe that long-distance investment in rental property is generally a bad idea.  But if you are going to do it, there is opportunity in Atlanta.