Seeking advice on where in Georgia to invest

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Seeking advice on where in Georgia to invest

Fitzroy Harvey
New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes

Hi everyone, I live in New York atm. I and my family are moving to Georgia in the year 2021 and we want to invest in RE (multifamily). Our question is we are not sure what town/city we want to move to. So far we have done research on a few towns like Decatur, Alpharetta and some of Atlanta. Base on what I have read and listened on bp podcast some say look for good schools, population growth, crime rate and so on. I am brand new

nervous and scared at the same time. We also were wondering if we should move down rent first and check out different towns to see what the markets are like first due to the fact that we know nothing about Georgia or the re market. Another idea we plan to do is to take a trip to Georgia for like 2 weeks meet with a few agents that are willing to show us around in those towns I mentioned above. Any advice on how to go about this will be helpful and appreciated. Thank you in advance. The reason we are waiting until the year 2021 is because we have 2 debts we want to pay off which will be paid in full within the next 4 to 5 months then save up a 20% down payment and some extra cash for emergencies. Is this a good plan or are we missing something?

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Brandon OwensPro Member
Flipper/Rehabber · Atlanta, GA · Member since 2017 · 32 posts · 17 votes
7y

I agree with the other comments as well. Another thing to consider if you're moving to Atlanta, especially from NY, is if you plan to use public transportation or drive your own car to work, entertainment, etc. Some of the areas mentioned above (Northside communities) are great places to stay to raise a family with lots of amenities, but commuting into the city inside the I285 perimeter can be a nightmare during rush hour traffic. The same is true for investment properties. If the tenants you plan to rent to are millennials or professionals without kids, they will most likely be living inside the perimeter and using public transportation. That's a totally different market and price range than some of the outside the perimeter communities. As was mentioned before, definitely take a few trips and plan to commute during rush hours to understand this dynamic. 

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  • James C.
    Marietta, GA · Member since 2018 · 17 posts · 8 votes
    7y

    Can't tell if you're looking for where to invest or where to move to (live) or both, but for where to move to...can't go wrong with Alpharetta / John's Creek / Milton / most of Roswell, cons expect to likely pay more to live in those areas (maybe nothing compared to NY, but compared to the area we're talking about here). 

    Very viable "alternative" to consider would be Kennesaw / parts of of east & northeast Cobb county / or Canton which seems to be getting more popular as far as I can tell...know several people that have moved out to Canton over the past few years. This area can be a bit more affordable, depending. 


    Any of these locales are about 30-45 minutes from ATL...during "off" times...double + that time during rush hour.

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  • Tyler Hardy
    Rental Property Investor · Williamson, GA · Member since 2018 · 78 posts · 35 votes
    7y

    @Fitzroy Harvey My recommendation to you is to spend some time driving around GA and staying short term in a few different areas. Georgia is covered in vastly different markets, all with their own atmospheres. You can stay in hotels if you'd like but the best way to get the feel of an area, in my opinion, is to go the Airbnb route. This would put you in a home in the community and get you a better idea of what it would be like to live there. 

    I would also focus on two different areas, one to live in, and one to invest in. They don't have to be in the same area at all. You may say you'd like to raise your family in Alpharetta (North side) but you find it more attractive to invest in East Point (South side) where the market is cheaper and growing. Don't limit yourself to moving to an area where you want to live an invest because those two mentalities don't always line up. 

    All over GA (around Atlanta specifically) you have a very diverse market and a broad scope of property values, culture, and growth rates. If you aren't planning on moving here for a while, you have plenty of time to take some trips. Plan on staying on the Southside, Northside, and intown to get a feel for one of the best states in the county. And don't forget, when you order a "tea" at a restaurant, you'll have to tell them "unsweet" until you get used to the way tea is supposed to be made (with sugar)! We look forward to having you!

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  • Keith Perkins
    Member since 2019 · 59 posts · 31 votes
    7y

    This is my personal opinion.  Sounds like you have not started investing in your local market and would be just getting started in Georgia and jumping to Multi family straight away.  I would highly recommend against this for many reasons 1st I am guessing from your profile picture you are not a young 20 something so the money you invest will be needed in the future retirement so you don't have room for errors(maybe you do).  Investing in multi family you can have a several hundred thousand errors.  SO unless you are OK losing several hundred thousand I would advise against it.  If I where in your shoes I would buy the home I like in the area I feel is best for me and my situation and then start to look at SFRs close to me so I can see if I am actually a "good and smart landlord".  I would also be networking with people in my area to see what they feel and say.  If I am successful I would start to then look into the multi family arena.  My idea is if I find out I am "stupid" and am not a "good landlord" I am not going to lose that much maybe just a few thousand 20-30k tops.  That is just my 2 cents.  

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  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @James C. Thank you for your advice, James. We are looking to move and also to invest. I have looked into those locations you speak of which are pretty nice and family-oriented for the most part.

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  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @Tyler Hardy Thank you, Tyler. Those are some good tips I will definitely take into consideration. One of our plans is to take trips down to physically see some areas to get a feel for it.

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  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @Keith Perkins Thank you, James. You made some good points.

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  • Brandon OwensPro Member
    Flipper/Rehabber · Atlanta, GA · Member since 2017 · 32 posts · 17 votes
    7y

    I agree with the other comments as well. Another thing to consider if you're moving to Atlanta, especially from NY, is if you plan to use public transportation or drive your own car to work, entertainment, etc. Some of the areas mentioned above (Northside communities) are great places to stay to raise a family with lots of amenities, but commuting into the city inside the I285 perimeter can be a nightmare during rush hour traffic. The same is true for investment properties. If the tenants you plan to rent to are millennials or professionals without kids, they will most likely be living inside the perimeter and using public transportation. That's a totally different market and price range than some of the outside the perimeter communities. As was mentioned before, definitely take a few trips and plan to commute during rush hours to understand this dynamic. 

    1Reply
  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @Brandon Owens Thank you, Brandon. I really appreciate all the advice I am getting from everyone. A lot of things to take into consideration now.

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  • James C.
    Marietta, GA · Member since 2018 · 17 posts · 8 votes
    7y

    Very welcome Fitzroy (sorry I can't figure out how to tag you while replying on my tablet). Lived in the north Fulton County and Cobb county area my whole life, it is a great place to raise a family. The others have made some great points on the investing side, so come on down and take a look, Georgia will be glad to welcome you. 

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  • Tyrone Hood
    Phoenix, AZ · Member since 2018 · 40 posts · 12 votes
    7y

    @Fitzroy Harvey

    I guess it really depends on where you work in Georgia.

    The commute can be pretty horrible during rush hour, all it takes is one accident and your time have more than like dbl or tripled. I am born and raised in Atlanta Ga, me personally I would rent until you get familiar with Georgia. Alpharetta, Roswell, Buckhead and Midtown are nice areas but really expensive to live that is going up 400, 75S is Marietta, Canton, Cobb County, 85N is Duluth, Sugar Loaf and so forth 285 is a big circle that wraps around Atlanta to 75 or 85 either way. Decatur has some nice areas as well near Stone Mountain, and 78 to Snellville and Loganville. Just remember anything outside the city limits of Atlanta will take a good commute in the mornings and the evenings. Any more questions feel free to message me.

    Best of luck!

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  • Stanley Desir
    Flipper/Rehabber · Orlando, FL · Member since 2016 · 27 posts · 5 votes
    7y

    I have a vacant lot in Blairsville Ga, 30512

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  • Terry Burger
    Investor · Atlanta GA | Marietta GA | Greenville SC | Spartanburg SC · Member since 2014 · 202 posts · 60 votes
    7y

    You should move here and rent for 1 to 2 years to figure out the areas you like. Good schools are fine if you have kids. I think you have to look at what kind of life you want to have here and move forward from there. You can have city living in 3 to 4 vastly different areas. Smyrna, Buckhead, Downtown, Midtown. Each of these areas has a myriad of micromarkets as well. I'm sure I'm missing some of the more urban areas. If you want to invest in multis, get ready to jump into a very competitive environment. 

    1Reply
  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @James C. It's all good man. Yes, I have heard that Fulton and Cobb County is very nice areas to move to. We are coming down right after the holidays for a week or 2 to check some areas that I look into that everyone has mentioned. Thanks a lot.

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  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @Tyrone Hood. Thank you for your advice, Tyrone. I looked into what you and others suggested about renting first to get a feel for it.

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  • Fitzroy Harvey
    OP
    New to Real Estate · Poughkeepsie, New York. · Member since 2019 · 26 posts · 15 votes
    7y

    @Terry Burger. Thank you, Terry. We are definitely looking into the renting first vs buying.

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