Looking for my first deal in Atlanta and surrounding areas

[Pragati Soni]

Hello Everyone! 

I am fairly new to BiggerPockets but have been listening to podcasts on my commute to work to soak up as much as I can. I am looking for my first deal in the Atlanta and surrounding areas.  I can currently comfortably put down $15k to $20k in investment property. Obviously, finding a property within 30 minutes from Atlanta area is currently $250k plus. Realizing this may be a challenge for me I started looking into properties in the college town of Athens. Athens is only an hour from Atlanta and I went to the University of Georgia so I have a sense of familiarity with the area and demand. Last year when I looked there were a bunch of properties selling for $60k to $70k which would have been the perfect price point for a starter property for me. My goal was to rent that out to students $350 per room and most of these properties were 2 bedroom condos. There are still some deals like that available but they are very limited and I haven't seen a really good one recently.

My question is, should I continue looking in Athens for my starter property considering my situation or should I look at other areas that I may have overlooked? I want to start investing in Georgia since this is my primary residence and being physically here will help me learn all that I can with my first deal. I am looking for a property no more than 1.5 hours from the Atlanta area. Please leave comments with any feedback or suggestions you have! Thanks!

[Lynn T.]

Great Metro Area to invest in. Lots of wholesalers in Atlanta. Make sure you are on their buyer's list. You may get lucky. But do your own number, don't use theirs. With your budget you may find a seller financing deal where you can fix up a little bit, your money will go further than buying from turnkey providers. Just my two cents.