Who's investing in the Atlanta GA area?

Question

I see lots of good deals just sitting and I wonder were are all the Georgia
Investors. I have to confess, I spent the last two months shoping Arizona
 :beer: so I kinda lost track of Georgia.  Oh well! I guess its the Holidays and all the money has been made for the year.

Merry Christmas!

Verran Jones · Answer

lenderes, i'm one of the bid dogs in georgia

need anythng my way let me know and we will get it done.

N/A N/A · Answer

I am in North Georgia I am a hour north of ATL and hour south of Chatt.
sitting right in the best locations for the investment world I look at every house for sale or foreclosed on in the local area.
I work for a investor also I do rehab work and a liitle investing for myself.
The REIA groups are the best info and deal swaps in the area. 
I enjoy this stuff alot and want to do it full time. If your interested in  properties in Ga let me know if it is in my area I will be happy to look at it take as many pics needed and tell you the area it is in. this is a buyers market here!   Just my 2 cents ok.

John Worley · Answer

Alex,

I'm always on the lookout for real estate agents who want to work with and learn about the real estate investment community around Atlanta and would be more than willing to answer any questions about the business that you may have. Shoot me an email (john@rtlgeorgia.com) and let me know.

N/A N/A · Answer

Hello, Alex here. I am a real estate agent with Coldwell Banker and I am very new to the profession. I would love to learn and connect with people in the same areas that are willing to learn and also pass along advise. I have some friends that do Subject To and aslo lease purchase and I would also like to contact investors in my area, for ideas. My area is northeast Atlanta.

John Worley · Answer

Typically I work on the commercial side of things more than residential and I am not buying much right now anyway as I am focusing more on building my mortgage business. So I can't give you particular deals at the moment, however being able to pick up properties on an average of 50-60 cents on the dollar (sometimes less) is not uncommon around most of metro Atlanta.

For example the last deal I did a little over a year ago was a 2/1 triplex near the GA Tech campus. I picked it up for around $85K and put about $18K fixing it up. I had it rented to kids from the college almost as soon as I finished the rehab and sold it 4 or 5 months later to an investor who wanted to hold it as a long term rental. He bought from me for $180K and still had some equity in it according the appraisals we had done.

Now 3 and 4 units is usually about as close as I get to the residential investing (I just don't care for SFR), but I know a few guys who regularly see similar numbers on their deals and they swear by SFR investing.

The biggest key to being successful down here is that you really have to stay on top of the deals as they come on the market because the really good stuff is usually gone within a few days.

John Worley · Answer

While we do have tons of great investment deals in Georgia, you're right the fraud is a problem. If you are an out of state investor, than you need to be working with someone on the ground here in Georgia who can go out to see these potential deals and give you an honest assestment of whether or not the deal is all it's crack up to be. It's not simply a matter of finding good recent comps. Around metro Atlanta especially there are houses where the comps and sales may very well be vaild but at the same time the surrounding neighborhood is half abandoned, trashed, etc. The market value may be there but if the neighborhood is so bad off that you can't sale or rent the property then the market value is a rather dead point.

N/A N/A · Answer

I never did think about that at at all myself , because I have properties in GA, that I can't seem to move either, thanks for the advice, also i have an Arizona property I am trying to move and having problems, any suggestions

Autavea Dabney · Answer

I think many Investors are hesitant to purchase in GA because of the fraud issue.  When I speak on fraud, Im not referring to only mortgage fraud.  Many Investors are sent pictures of nice homes, however, they are not in a great neighborhood.  The Investor, not living in the area or state, doesn't know that the home next to the home they are going to purchase is boarded up.  The home 5 houses down is also boarded up.  The home 2 houses down looks like a dump, but someone is living in it.  I think you get the picture.  To make a long story short, Investors were getting burned.

Peter Vekselman · Answer

There are plenty of investors in the Atlanta market.  The best way to find them is through the Sunday paper in the Investment Real Estate section.  There is a large investor club in this area also (GAREIA) where tons of investors go to on a monthly bases.  And our highway exit ramps are filled with signs by investors.
I hope some of thee ideas help you find them.