Buy and Hold Investor in Rome, Georgia

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Buy and Hold Investor in Rome, Georgia

Hal Davis
Investor · Rome, GA · Member since 2016 · 15 posts · 8 votes

Hello all,

I'm a 35 year old who has only been investing for 2 years.  I got into rental investing when I moved from Atlanta to Rome, Georgia and didn't like the market price for my primary residence at the time.  I rented out the house until prices came back and it worked out pretty well.  

I rolled the proceeds from the sale into a cash purchase of a 3/1.5 in a good rental neighborhood.  $52k that rents for $650.  So far so good.

A few months later a nice 3/2 hit my radar and I financed the deal at $67k that rents for $825.

I use a property manager here in Rome and they have been great to work with, although they do not have direct deposit, they do take care of everything and only charge 6% with no upfront fees.  I have more than a full time job and a 4 year old son.  I want to be an investor and not a second job.

I have a one-hour each way commute which I fill with the BP podcast (among others).

Looking forward to doing some networking and learning on BP.

Thanks for having me,

Hal Davis

3Reply
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Most Popular Reply

Jessica Duty
Member since 2021 · 3 posts · 3 votes
4y

Does anyone have any recommendations for a local investor friendly realtor and also contractor in Rome, Ga area

2Reply
See this reply in the discussion

19 Replies

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  • Brett Snodgrass
    Investor · Indianapolis, IN · Member since 2014 · 2k+ posts · 601 votes
    10y

    Hi @Hal Davis, 

    Welcome to the BP community! Hope to see you around the forums. 

    0Reply
  • Ralph C.
    Real Estate investor professional · Suwanee, GA · Member since 2016 · 233 posts · 81 votes
    10y

    Hey hal, Nice to meet you, I'm also in GA

      let me know if you need any help with your  ga re activities. I'm an investor in the metro atl areas but have ventured out further as well. I'm Also licensed in ga which provides all the accessibility to property comps/details as well as selling my own deals on fmls.

    0Reply
  • Hal Davis
    OP
    Investor · Rome, GA · Member since 2016 · 15 posts · 8 votes
    10y

    Thanks for the welcome responses!

    Ralph, I used to live just In Peachtree Corners before moving to Rome. I used to play golf in Suwanee, nice area.

    As long as there is a reasonable property manager in the area, I am open to investing anywhere (especially areas that I know).  As you can see, my first two deals were OK, I'm putting a little more work in finding opportunities where I can get into properties below market value.

    0Reply
  • Jered Sturm
    Investor/Syndicator · Cincinnati, OH · Member since 2014 · 470 posts · 599 votes
    10y

    Welcome the Site @Hal Davis . It sounds like you have a great start to your new venture. I am new to the area. I moved down this summer to expand our REI company down from Ohio into NW Georgia markets.

    It sounds like you are a busy guy! Congrats on finding the time to even invest with a PM. 

    Best of luck as you continue to grow!

    see ya around.

    0Reply
  • Jailen Holt
    Real Estate Salesperson Licensed · Atlanta, GA · Member since 2016 · 114 posts · 22 votes
    10y

    Welcome to BiggerPockets, Hal! 

    Where would you like your next investment property purchase to be located?

    0Reply
  • Tony Gunter
    Investor · Canton, GA · Member since 2014 · 728 posts · 500 votes
    9y
    Hal Davis Hello Hal, Who is you PM in Rome? I have property there as well. Let's connect. Tony
    0Reply
  • Hal Davis
    OP
    Investor · Rome, GA · Member since 2016 · 15 posts · 8 votes
    9y

    Update:

    Closed on my 3rd SFR in November. So:

    3 bed, 1.5 Bath - 1.24% on 1% rule

    3 bed, 2 Bath - 1.22% on 1% rule

    3 bed, 1.5 Bath - 1.26% on 1% rule

    In theory, I'm looking at 15% cash on cash return and 24% total return before tax deductions.

    1Reply
  • Shaun Wilbanks
    Flipper/Rehabber · Rome, GA · Member since 2019 · 3 posts · 0 votes
    7y
    @Hal Davis I'm new to BiggerPockets but not investing. I'm local to Rome, GA. How's the investing going?
    0Reply
  • Hal Davis
    OP
    Investor · Rome, GA · Member since 2016 · 15 posts · 8 votes
    7y

    Investing is going well. I'm currently renting all 7 SFR's that I own and flipped a pretty crappy duplex that worked out surprisingly well.

    I’m starting to get wind of off-market opportunities as the network grows and people know I actually do have money and close on deals that are good.

    0Reply
  • Mike Burr
    Atlanta · Member since 2019 · 4 posts · 2 votes
    7y

    Atlanta based and Just getting started, but looking at a couple of deals in Rome.  Good to know there are other BP devotees up there!

    0Reply
  • Jessica Duty
    Member since 2021 · 3 posts · 3 votes
    4y

    Does anyone have any recommendations for a local investor friendly realtor and also contractor in Rome, Ga area

    2Reply
  • Shaniqua Dupree
    Real Estate Consultant · Atlanta, GA · Member since 2015 · 173 posts · 46 votes
    3y
    Quote from @Jessica Duty:

    Does anyone have any recommendations for a local investor friendly realtor and also contractor in Rome, Ga area


     Hey, did you find a realtor or contractor?

    1Reply
  • Layla Garrett
    Realtor · North West Georgia · Member since 2022 · 12 posts · 10 votes
    3y
    Quote from @Jessica Duty:

    Does anyone have any recommendations for a local investor friendly realtor and also contractor in Rome, Ga area


     Hey Jessica,

    I am a native to Rome, GA and specialize in working with investors around the area. I personally know many landlords in the community, and have helped them to sell their rental properties to investors, both on and off-market. Flips can also be found here if you look hard enough, but rental properties are in high demand as there is not enough housing for the number of people living here. Because of this, monthly rent has increased dramatically and so has cash flow. Let me know if you're looking for investment properties in the area, and I'd be happy to give you the contact info of the contractors that I recommend and trust 😊

    Layla Garrett

    Realty One Group Insight

    0Reply
  • Grant Garab
    Member since 2023 · 6 posts · 2 votes
    3y
    Quote from @Hal Davis:

    Hello all,

    I'm a 35 year old who has only been investing for 2 years.  I got into rental investing when I moved from Atlanta to Rome, Georgia and didn't like the market price for my primary residence at the time.  I rented out the house until prices came back and it worked out pretty well.  

    I rolled the proceeds from the sale into a cash purchase of a 3/1.5 in a good rental neighborhood.  $52k that rents for $650.  So far so good.

    A few months later a nice 3/2 hit my radar and I financed the deal at $67k that rents for $825.

    I use a property manager here in Rome and they have been great to work with, although they do not have direct deposit, they do take care of everything and only charge 6% with no upfront fees.  I have more than a full time job and a 4 year old son.  I want to be an investor and not a second job.

    I have a one-hour each way commute which I fill with the BP podcast (among others).

    Looking forward to doing some networking and learning on BP.

    Thanks for having me,

    Hal Davis


     Hey Hal,

    I live in Rome and invest here as well. I wholesale 20-30 properties here a year as well. If you're still investing in the area, would love to meet you if so.

    0Reply
  • Grant Garab
    Member since 2023 · 6 posts · 2 votes
    3y
    Quote from @Layla Garrett:
    Quote from @Jessica Duty:

    Does anyone have any recommendations for a local investor friendly realtor and also contractor in Rome, Ga area


     Hey Jessica,

    I am a native to Rome, GA and specialize in working with investors around the area. I personally know many landlords in the community, and have helped them to sell their rental properties to investors, both on and off-market. Flips can also be found here if you look hard enough, but rental properties are in high demand as there is not enough housing for the number of people living here. Because of this, monthly rent has increased dramatically and so has cash flow. Let me know if you're looking for investment properties in the area, and I'd be happy to give you the contact info of the contractors that I recommend and trust 😊

    Layla Garrett

    Realty One Group Insight


     Layla,

    As state in my post above to Hal, I live and invest in Rome and always looking to network. Lets connect!

    1Reply
  • Jeff Costa
    Member since 2021 · 166 posts · 113 votes
    3y

    What is up with the listing stipulation I see on many Rome properties: "Binding Contract required prior to showing?" Why in the world would a seller need a binding contract before showing a property? This feels like a red flag. @Layla Garrett: any idea?

    0Reply
  • Layla Garrett
    Realtor · North West Georgia · Member since 2022 · 12 posts · 10 votes
    3y
    Quote from @Jeff Costa:

    What is up with the listing stipulation I see on many Rome properties: "Binding Contract required prior to showing?" Why in the world would a seller need a binding contract before showing a property? This feels like a red flag. @Layla Garrett: any idea?

    Hey Jeff!

    Yes that can be a common stipulation in Rome unfortunately. Most of the time when that is stated, the subject properties have tenants occupying them. There is a lot of investment interest in Rome, and sellers have a difficult time coordinating showing appointments with tenants’ schedules so they choose to show the properties only after a binding contract. This can definitely narrow down the amount of offers on these properties, since understandably most buyers want to know what a house looks like inside before making an offer. I recommend requesting a longer due diligence period if you are a buyer, that way there is plenty of time to coordinate schedules and view the property during due diligence. I also ask the listing agent if they can send more photos to view before making an offer.

    1Reply
  • Jeff Costa
    Member since 2021 · 166 posts · 113 votes
    3y

    Thanks for the prompt response, Layla. I figured it had something to do with coordinating showing times. The binding contract probably limits the addressable market of potential buyers. Then again, listings with no photos can be hidden value, as most investors would swipe right.

    2Reply
  • Keith Beasley
    Member since 2025 · 2 posts · 0 votes
    10mo

    Hello Hal I would like to talk more about your experience. Specifically Rome. 

    Please DM me.

    0Reply
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