Out of state investing in Macon, GA

[Jeremy Haney]

I have been looking at Bibbs County and I am interested in the area. Any information from folks that have experience investing there would be much appreciated. I like the 35-40k price range and I am wondering if the 1.5-2% rule can be met with SFH rentals. Thanks in advance!

[Maggie W.]

Hi Jeremy, I'm a Californian in contract for a duplex in Macon GA, a town I studied for so long I missed the boat. I visited recently, offered on 4 properties, passed on 2, and hopefully can close on one. I am looking mostly in the historic areas near downtown, so I am casting my net narrowly, but my sense is that the super-bargains for residential are gone. The properties available are in truly heinous condition and sellers are unrealistic about their value. Rents are not increasing fast enough to justify purchase prices. Vacant land in promising neighborhoods is being hoarded by the Land Bank Authority (which you cannot sell it for a profit). The mixed use buildings downtown look better; loft rents are good and local organizations are helpful to developers. My strategy on this duplex is BRRRR, and while it's on the operating table I'm looking for the next Macon. Let us know if you have other ideas, like same-size towns in Nevada....