Recommendations for best areas of Atlanta to invest in SFRs?

[Maggie Wray]

Hi, I'm new to investing and live in the Atlanta area. My husband and I are looking to purchase our first SFR by the end of this year, and are looking for properties under $100,000, ideally 2 or 3 bedrooms and 2+ baths, that would provide cash flow of $250+/month. We can put 20% down, and have a lender who can get us a conventional loan for 75,000 at 4.75%. I am planning to start by managing the property myself, but want the numbers to work including property management, in case I find it's too much to do myself and want to find a property manager in the future.

Now that I've defined my criteria and found a lender, one of the next steps recommended from everything I've read & listened to on BP is to identify ideal locations to invest in.  

So, I'm wondering -- based on your experience -- do you think I'll be able to find properties that meet these criteria in the greater Atlanta area, in an area that will still be safe and allow us to attract quality tenants?   I currently live in Dunwoody and am willing to invest up to an hour away.  Alternatively, I'm also open to looking for properties out of state if it's too hard to find deals near Atlanta, but would love to start locally if possible.

Any suggestions would be very welcome!

[Curt Smith]

Hi Maggie, My best tip for new or experienced is to join most of the local REIAs. I've been around the block and learning on line 24x7 is great but one needs a network of face toface folks who are active investors. These folks hang in the REIAs. In Atlanta I've sorted down the best REIA for me an experienced investor is GaREIA, the URL is in my sig below.

2nd read my doc on buying Bullet Proof rentals off my profile, go down on the right.

Buying rentals that appreciate, allow rent increases is best done by buying in the path of new jobs.  Thats right know where new employers are coming to ATL or any area and buy where the growth in jobs will be.  So do you know where new jobs are coming to Atlanta?  Can you figure this out?  See my doc.

On a contrarian note, what ever folks tell you, do the opposite.  This sounds nutty but folks will give advice from what they "heard" or what they do themselves.  Why compete with the herd?

I quit my day job last July thanks to building a decent sized rental portfolio in just 6 yrs by figuring out where new jobs are coming to, what asset type is on the cold side and learning to be experts in ugly or some aspect that kept it "cold".  IE Warren Buffets buy whats hated and sell whats loved.  Today we are buying loved asset types but in an area that has few investors.  We decided we'd drive 1-2 hrs to avoid the 1000's of investors working the metro counties.  Learn to be creative, crafty, resourceful, how to avoid competition.