Anyone from the Albany, Ga area?

[Account Closed]

just seeing if there is anyone out there from my area

[Brian Thurmond]

Originally posted by @Gabriel Chavez:

I'm not from Albany but I am interested in the area. Where do you see Albany heading in the next 5 years? 10 years?

I posted this a few hours ago on another thread:

I was born and raised in Albany Georgia. There is very little appreciation in Albany, GA. A very large portion of the tax base has left and moved to lesser taxed surrounding counties. Albany, at one time, was a very up-and-coming city. It lost half of its population after 2008. I believe that it was once around 130,000 people and now it is around 75K. There is some industry in Albany, namely, Miller Brewing, Proctor & Gamble, and a small Marine base. One of the largest employers n Albany is a regional hospital, that is about to get some serious competition from the county just to the North, that has a much better school system, and is where a large portion of people who work in Albany live.

In my opinion and through observation, most people who have children prefer to live in the surrounding counties because of the school systems, while still not great, but easily better than Albany's schools. This is all verifiable info.

I am a new investor, being from Albany, I wanted to find something, I still do, but I saw better opportunities a few counties in every direction from Albany, with better appreciation, better ROI, and other factors.

In my opinion, right now, there seems to be a surplus of inventory for sale however, the prices are set a little high.

This was taken from the USA today. https://www.usatoday.com/story... These are the worst cities to live in America. Is yours one of them? Samuel Stebbins and Grant Suneson, 24/7 Wall Street Published 6:00 a.m. ET Feb. 7, 2019 | Updated 11:12 a.m. ET Feb. 7, 2019
27. Albany, Georgia
• Population: 74,892
• Poverty rate: 33.2 percent (top 10 percent)
• 2017 violent crimes per 100,000 people: 1,130 (top 10 percent)
• Median home value: $101,000 (bottom 25 percent)

"Albany, Georgia, residents are more likely than most Americans to face financial hardship. Nearly a third of the city's population lives below the poverty line, one of the highest poverty rates in the country. The city's median household income of $31,843 a year is well below the U.S. median of $57,652.

There are likely many factors that contribute to low incomes in the area, though one of the most significant is employment. Across the United States, employment increased by 6.1 percent from 2012 to 2017. In the same time period, employment in Albany fell by 4.0 percent. Albany also has a five-year unemployment rate of 9.7 percent, more than double the 4.1 percent U.S. unemployment rate during that same time."

In 2018 Albany was the 7th worst

7. Albany, Ga.: "The populations of several cities on this list are shrinking, but few are losing residents as fast as Albany, Georgia. In the last five years, Albany's population declined by 4.8%, even as the U.S. population expanded by 3.7%. The falling population is likely attributable in part to bleak economic conditions. Some 32.5% of city residents live in poverty, more than double the state poverty rate of 16.0% and the U.S. rate of 14.0%."
https://www.usatoday.com/pictu... worst cities to live in Sep. 26, 2018

There is an opportunity in Albany, but there is little appreciation right now. I do not know how it will be in the future. I would call up a few of the local property managers to see what they think. 
I would also do this for rents. The rents in Albany are not all that great either. However, there are some good opportunities to be had.

I hope that this helps.