Real Estate Agent · Tucker, GA · Member since 2016 · 90 posts · 144 votes
Hi all! Are any of you guys investing in Grove Park 30318? I have been looking around those areas for the last couple of months but cant get inspired. The ones that are affordable are total tear downs. I know that the new beltline has started construction in that general area but just not sure which area would be good for buy and hold. Especially with all the wok that most of these houses need. The other day I saw one that said it needed elbow grease. It was a total tear down.
Was scrolling around and came across this message board. Just thought I would provide some insight on the Grove Park n'hood. I bought a home in Grove park in Nov 2015 and moved in April 2016 and it's been a really great experience. Currently under contract to purchase another one down the street.
I would just say that in my opinion the area will be changing sooner rather than later given the Proctor Creek Greenway, Mark Texeira development, Westside Park and Quarry and streetscape improvements.
I have a fair amount of experience in commercial and residential investing so if anyone has any questions about purchasing in the area hit me up.
You have to be careful and know what areas to buy in when it comes to that zip code. I have a colleague who is having a tough time getting his duplex rented. He has even had squatters in on e unit and was told by his property management company that he'd have to evict them. He has fixed all the issues however it seems the quality screened tenants aren't easy to come by. The desirable tenants don't want to live there and if you lower your standards and rent to any one who says they will pay rent you end up running the risk of them falling behind on rent and destroying the property. Then Fulton county will drag you through a 4-6 month eviction process. It's a catch 22 if you ask me. Even the "good, reputable" property management companies don't know how to handle that area. I would say enter with extreme caution. You don't want to get stuck paying a mortgage out of pocket because there isn't any income being generated.
It's a buy hold area but long term it's a winner like any other area around the belt line. I have three properties in Grove Park but you have to judge them on a street by street basis. I like Grove Park only because of it's value. You can land quality pre-renovated properties at better price points in better conditions than somewhere like Adair Park. Yes, it's a long term strategy and GP isn't being gentrified anytime soon but for value on value it's a solid long term play (5-10 years). Most of your 30-40k houses in that area will be tear downs BUT ever so often you will come across something for 40k that is a stellar deal on a nice street. As far as finding quality tenants in "up and coming areas" I've always used the approach of going real high quality and design on my renovations. If you pick a clean street, give your house that "wow" factor that makes it pop, price the rent a little bit competitive you would be surprised how many quality tenants would be open to the idea of living in those areas. I've used that approach in 30032, Mechanicsville, and Adair Park before those areas started to turn. Sure I heard plenty of "I love the house but the area......", and that's fine because long term the area is always improving BUT you never want your rejection to be because of the house it's self. THAT is what you can control. So, for the short term it might be a little challenge but like in the other areas I've sat through you will notice in time demand goes up and the quality of who reaches out to rent improves.
Do you have a property manager for your property at Grove Park? If you do, could you please share with me. I am looking for a property manager for my duplex at Grove Park. Thank you.
I'm late to the party here, but I just bought a duplex in Grove Park. I am very excited about The Westside Reservoir Project, and I wanted to get some property that was located as close to the new park as possible. (Bought on Sims Ave.)
This is a new neighborhood for me -- most of my investments are in SW Atlanta. But we will see how it goes!
Joshua I definitely want to get into this quickly. I'm currently working on a flip in 30032, so once I sell it I would like to buy a rental in this area. How did your purchase go?
@Maricela Chavez We've sold a lot of rentals and fix and flips in the Grove Park area. Definitely a long term play of at least 10 years I'd say. Decatur is still a great place to flip a house considering the demand for that area so long as you come across the right deal (high investor demand is inflating prices and shrinking margins.)
Was scrolling around and came across this message board. Just thought I would provide some insight on the Grove Park n'hood. I bought a home in Grove park in Nov 2015 and moved in April 2016 and it's been a really great experience. Currently under contract to purchase another one down the street.
I would just say that in my opinion the area will be changing sooner rather than later given the Proctor Creek Greenway, Mark Texeira development, Westside Park and Quarry and streetscape improvements.
I have a fair amount of experience in commercial and residential investing so if anyone has any questions about purchasing in the area hit me up.
I have made a purchase in this area. I bought a duplex a couple of months ago. We are just about finished with the repairs and I'm going to rent it out. Would love to connect with you! For some reason I couldn't do it from my phone.