LF Cash flow areas for a new out of state investor around Atlanta

[Shankar Sridhar]

Hi all,

I am trying to buy my first property and trying to start that with Atlanta market with around 150-180k$ budget.
Looking for single family homes which can cash flow

I know things are quite hot here too. Hence areas near metro is out of my range.

Any suggestions to know where I can look under my buy box? 
Some of the areas I have been analyzing are  - East point, Hapeville near metro.
Douglasville in the west,  McDonough, Stockbridge, Jonesborough in the south.  Acworth, Marietta in the north.

Are these B- to C+ areas where I can get stable rental income ? 

Any other tips and suggestions to choose my market is appreciated. 

Thanks

[Brenden Mitchum]

Hey @Shankar Sridhar

With that budget, I would say you will be mostly restricted to the outlying counties. There are some areas (C and lower) near the city that have some supply within that budget. However, most of this supply will be in pretty rough shape. How much rehab are you okay with taking on? 

That price point just does not really exist right now in most of Atlanta for C+/B- areas. I'd suggest looking in Douglasville and Conyers/Covington. Perhaps Paulding County too. Be prepared for a bidding war on anything you find on the market in decent condition/location that's priced below $200k.

I know this likely is not what you wanted to hear but it is our current reality. There are simply too many homebuyers and investors all looking for the same thing (a well-priced home in a decent area that does not need too much work), and too few folks selling these homes. Best bet right now is to look where others are not and get creative. 

Please, feel free to reach out anytime if you have other questions or just want to chat about the ATL market!