I guess I'll just kick things off her by saying that Atlanta is incredibly diverse in many ways. There's a myriad of submarkets here with many being entirely different from each other. Any new investor to the area will definitely want to first hone in on their strategy. And I don't mean just buy&hold vs. flip, but really dig into what you're looking for. Then you can start focusing on those submarkets that fit this strategy. If you just look all over Atlanta for your deals, you might have a tough go of it.
What has been your experience so far here in Atlanta? What would you like to add to the discussion?
I guess I'll just kick things off her by saying that Atlanta is incredibly diverse in many ways. There's a myriad of submarkets here with many being entirely different from each other. Any new investor to the area will definitely want to first hone in on their strategy. And I don't mean just buy&hold vs. flip, but really dig into what you're looking for. Then you can start focusing on those submarkets that fit this strategy. If you just look all over Atlanta for your deals, you might have a tough go of it.
What has been your experience so far here in Atlanta? What would you like to add to the discussion?
I started investing end of 2018 and have four properties so far. The first three were in Buford, mall of GA area, all of them SFRs. I live in Suwanee, so chose that location because of the proximity to where I live. And I have been happy with the outcome. The last one I did was full rehab in south Atlanta ( Pittsburgh Yards vicinity ). Went there for future appreciation. Won’t be making a lot of cash flow here. Hoping to see some growth here in the next few years. Looking for my next property and wondering where it should be. It’s just hard to find any SFRs with 1% rule in mind here in Atlanta area.
Wow! Terrific buys! Would love to have been able to buy some property in Buford several years back. I am sure those are doing quite well. The Pittsburgh property is also solid and I'm sure you will be very happy with that in a few years.
I would say not to worry so much about the 1% rule. This is really not a rule but rather just a quick way to filter out bogus deals. Also, this "rule" was created back when interest rates were much higher. Now you can get away with .8%+. You are correct though, cash flow is becoming slimmer and slimmer; practically non-existent in many parts of the city.