Newbee, wants to invest in Atlanta

[Antonio Cordova]

Hello Everyone.

I am from NYC. In my experience it's been very difficult to invest in the New York area.  I am new to branch out, investing out of state and Atlanta is looking really interesting to me. I am looking to buy an SFH\duplex  with little work for improvement if necessary, where I can rent out  and ideally I want something which can cashflow. I was wondering what is the best way to go about doing this,  looking to build a team that can help.  I want to fly out look at different neighborhoods and build relationships. If anyone has an idea to point me to the right direction I would greatly appreciate it. 

[Michael Dumler]

@Antonio Cordova, the best way to go about implementing your investment strategy out of state is by doing exactly what you're doing now, connecting with investors and vendors here on BP. More likely than not, your first point of contact should be an investor who has experience in the market or a real estate agent that primarily works on investments. I will point out, however, that it's important to recognize that what you're pursuing is also what hundreds if not thousands of other investors are looking for, SFH/2-4 unit deals that cash flow in a rapidly growing area. Also, flying out to look at different properties and neighborhoods is fine initially to get a sense of the area, but don't expect to be doing this for every potential deal. Needless to say, the real estate market is hot with properties sitting on the market for an average of 6-8 days and investments more so seeing 2-3 days before they're under contract. With all that being said, as an out-of-state investor, you must have someone that can be your boots on the ground. Moving forward, I would reach out to several investors and agents to get a sense of what is being seen in the market and the best approach to utilize to lock up a deal. Hope this makes sense and helps!