Wish to invest in Single family home in the Atlanta area - Newbie

[Yigal Eden]

Hi,

So . . . I read books, listened to blogs, spoke to investors, found two mentors, went to a real estate meetup.

I even have some money to invest from years of saving.

I opened an LLC in the state of Georgia and I will use it to buy and own property.

I opened a new business bank account for the LLC.

But I can't find a property to buy - its as if all the good deals are gone.

I don't live in the USA but I have decided to invest in it.

So I'm not familiar with the local market or any market for that matter in the US.

I chose Atlanta mainly because I know two people that have bought properties there and recommended it.

I look at Zillow and Trulia and try and find properties that fit the following criteria.

1. Schools that are rated 4 and above in the vicinity of the property. (Both Trulia and Zillow)

2. low crime rate (can be seen on Trulia)

3. Low vacancy rate (Via neighborhoodScout)

4. Price range between 50K and 75K

5. Rent of $700 - $1000 (on Zillow or Rentometer)

These criteria lead me to areas with a high vacancy rate of 11 to 30 percent.

Just the thought of a third of all houses in a neighborhood being empty all year round is scary.

My questions are:

1. Should I really take that factor (home vacancy rate) into consideration? as I don't seem to find any properties that fit my search.

2. I seem to find relevant properties in the Decatur and Stone Mountain area, are these areas any good? Has anyone here invested in those areas?

Hope this wasn't too long.

Thanks,

Y. Eden