Hello from a newbie in Atlanta

[Layla Rahm]

Hi Everyone. I just found this website and super excited! I sort of fell into real estate investing without ever intending to. I am in my middle 30s, with a baby, and husband.

I purchased a condo in DC that I bought pre-construction in 2006 when I had just graduated law school. I ended up moving back to Atlanta before it was finished, and while it was being built, the area of DC went from being a street of prostitutes to the best area of DC to live in. I rented it for a year and when I sold it I made over 100k and someone told me about 1031 exchanges so I did that and bought 2 foreclosures in Atlanta with the proceeds, both of which are now rentals. That was in 2008. One of the properties I'm about to sell, closing in a couple of weeks, and I'll make a good amount of money from it. I'm selling it because it is an older home and while it has positive cash flow I'm afraid of the problems it could face in a couple years. And the other is a quad I own that has really great tenants and great positive cash flow. I ended up purchasing another foreclosure in 2008 as well, that I fixed up completely, and is now a rental in a beautiful part of town, also with positive cash flow. 

We just moved out of Atlanta and so my parents are helping me manage my properties in Atlanta. I love real estate but sometimes the stress can be overwhelming. My husband likes to joke that he married me and my properties :) We'll eventually be moving permanently to southern CA.

I am looking forward to learning from everyone here! I'm particularly looking forward to learning about when to sell, when to hold, and when to buy, especially since our permanent home will not be in Atlanta. And I'm also looking forward to learning about how I can figure out if my properties are actually good investments or not. 

[Andrew Cordle]

@Layla Rahm

Hey congrats on your not on purpose investing!!! It looks like it turned out better than some people who spend years trying to figure RE out. I am from ATL so if you ever need anything please feel free to reach out as I am an active investor here as well. 

Since you are new to BP here are a couple things that could help:

7 tips to help you grow your business:

1. New to BP?

2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

7. Set yourself up to receive free alerts to be notified of subjects that interest you:

Good luck with investing in ATL and maybe SoCal. 

Andrew