Orlando area or Atlanta area??? Better market for a noob?

Question

Hello Community. I am brand spanking new to BiggerPockets,watched a few podcasts and learned a lot. I am looking to get involved with my first real estate investment and would like to know what the better market is for a beginner, the Orlando area or the Atlanta area? Thank you very much for any insight!

Andrew Davis · Answer

Hey @Nick Zarrillo, welcome to BP and congratulations on getting started in REI!@Paul Timmins gives some great advice for getting the most out of the site.I would submit that the best market to start in is the one you're in. I started investing in Orlando last year and while I didn't and don't know everything about this market, I know quite a bit more than I do about Memphis, Atlanta, Kansas City, or wherever else. I started by driving (walking) for dollars in the neighborhood that I lived in, and sending out handwritten notes.As you spend time on the forums, you'll notice that a lot of people are interested in investing here, and PWC recently identified as a very strong real estate investment market in their annual report.We have relatively low cost of living, relatively cheap housing prices and are slated for strong economic growth. In your area, the Sunrail is expanding to connect Kissimmee/Poinciana all the way up to Orlando and beyond: http://corporate.sunrail.com/stations-trains/phase...Valencia college is opening a new Poinciana campus: http://www.bizjournals.com/orlando/blog/2015/07/va...And we have solid REIA's with county meetings near you:http://www.cfri.net/http://www.goreia.com/REIA's, in addition to BP, are a great place to learn and connect with experienced investors. I would strongly suggest interning or apprenticing with someone who's success you'd like to emulate.I wish you all the best Nick!

Ron Garner · Answer

Atlanta is hot especially for fix and flipping. Orlando is more of a buy and hold city or vacation rentals is pretty lucrative in that location.

Paul Timmins · Answer

@Nick ZarrilloWelcome. Both markets are good. Atlanta is in the top 10 US markets for Student Housing. Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.comTwo Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack. Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting overhttp://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-bookGood Luck Paul

Rod Joseph · Answer

Hi, I own a duplex in Lawrenceville. There may be none on the MLS but they are definitely there. I don't think they get to the MLS before being snatched up.

Keith Courtney · Answer

Nick -I live in Orlando and can only speak for the short term rental market here. Because of Disney World, Universal and SeaWorld, the vacation rental demand here is year-round. There are vacation homes here that make good investments, but there are also a lot that do not. Location and amenities are very important. Feel free to contact me, and I can give you lots of information about this market that you can use to compare with the Atlanta market.Good luck with whatever you decide.Keith

Charles McCabe · Answer

@Rod Joseph Good to hear. If you have any particular leads, I'm all ears.Thanks,Chaz

Charles McCabe · Answer

@Nick Zarrillo The one little tidbit I can add is that I did some MLS searching for MFRs in the Lawrenceville GA (about 1/2 hour outside Atlanta) area and there was virtually nothing. Don't have an explanation for that yet.Thanks,Chaz

Nick Zarrillo · Answer

@Charles McCabe @Rod Joseph @Paul TimminsThanks for the responses and detailed info. I will be sure to absorb everything. Does anyone know the "hidden fees" involved in auctions? There are some bid worthies in Orlando but I don't want to just blind bid. 😖Nice to thread meet yall!