Updated about 12 years ago on . Most recent reply
Athens Georgia
I am going to be moving soon, and am looking in the Athens GA area for a 2-4 unit to live in, and another 2-4 unit as an investment. I have found several properties in the south east area, past the perimeter around Gaines School Rd, and another few near UGA/ N Peter St. I would be purchasing with my VA loan on one, and conventional for the second. Could any one tell me about the locations?
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- Real Estate Investor, Flipper, PM, vacation rental, Wholesaler
- Athens, GA
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@Bobby C.Welcome to the Classic City!
I live and invest in Athen GA. We have a modest but profitable multi-fam portfilio here in town and have learned lessons (good and bad) along the way. There are a number of different tenant markets to serve and each requires a different touch. We have had great success with grad students, UGA employees and other young professionals around the new Medical school and Athens Regional Medical Center (ARMC/ Cobb/Hamm/Hill Historic, Normaltown) and also the Prince/Boulevard Downtown corridors. Another bright spot is the 5-Points Area (Lumpkin) and North Milledge/Meigs . Avoid the East and far west (Tallassee) side since the tenant and maintenance quality of those areas have shifted toward the lower end. They were hardest hit in the downturn and it shows... Also the Iron triangle. I could go on and on. Tell me a street name, and I've probably been on it and generally familiar with prices.
There are plenty of what apears to be "great deals" but it's still all about location and trends which will not be known to a new guy in town. I'm not a realtor, just a cautious and cashflowing investor. I'd be happy to share my experience, network and impressions of different areas.