Newbie in ATL Area - multifamilies???

[Catie Baker]

We are just getting started and want to consider duplex or triplex but cannot seem to find ANYTHING in the Atlanta metro area.... at least nothing on MLS. Are there just not any multi-family properties for sale around Atlanta right now or are we barking up the wrong tree by hoping to find something in Zillor or Realtor.com?

[Brenden Mitchum]

Hey @Catie Baker, welcome to the BP community!

Truth is you aren't seeing anything for a couple of reasons: 1. Overall supply of small MF in Atlanta is pretty low. 2. What little does get sold is typically traded off-market. 

Zillow and Realtor.com are fairly accurate. Not as good as direct MLS access but chances are there isn't anything you're missing - there just isn't much here. Your best bet would be to link up with a REALTOR® who does some MF deals. Most likely there isn't anyone who solely focuses on them but at least have someone who understands the market and has a few off-market connections. You'll also want to network with other investors here and get in touch with wholesalers. Essentially, the name of the game is to just talk to everyone that you can.

Everybody and their mom wants a small MF in Atlanta so competition is fierce. And, as we already mentioned, supply is crazy low. You're certainly going to be fighting an uphill battle but I know a guy (new investor too) who's purchased several MF over the past year so I know it's not impossible. I, personally, focus on more niche investing to avoid the frenzy. I'd rather get creative and find returns in places where not many others are because this usually means higher returns. 

Hope this helps a bit - please, feel free to reach out anytime if you have other questions or just want to chat!