Multifamily BRRR deals in Atlanta

[Wes Crafton]

Hi everyone!

This is my first BP post after listening to several podcasts, reading books and sifting through various discussions on BP. I am in my mid thirties and somewhat new to the field of commercial real estate but for the past three years I have been working as a registered commercial appraiser in Atlanta. Prior to my appraisal experience, my family and I sold our engineering firm in Cobb County and I have a fair amount of cash to invest in a multi family property- I have approx. $700k and thought about quitting my job now and started knocking on doors in Atlanta looking for a good BRRR deal.

I know the answer is obvious to some of the younger folks out there on BP, however I have a family to raise and bills to pay but at the same time I long for financial flexibility offered by MF. A lot of the podcasts I listen to seem to have the same regurgitated story of house hacking with say a husband and wife with no kids and don't have a lot of cash. My circumstances are slightly different and we are living comfortably with my salary and diversified stock portfolio. After working in commercial RE for a few years I am quickly discovering $700k doesn't go too far especially in this market. I seem to be caught in between starting with several SFR BRRR deals or just waiting for a downturn and deploying all that cash for a multifamily. I hate timing the markets and I personally don't see a recession coming anytime soon but I am curious what the Pros on this board would recommend doing given my current situation.

Lastly, I have little experience with rehabs and was considering working for a property managment or asset management firm to gain skills, continue having an income and prepare for a downturn. Thoughts/partnerships/new relationships are welcome! Thanks y’all!