New Investor- Atlanta Market Question

[Mike Wilcher Jr]

Hi BP,

Does anyone know if the Peachtree Corners section in GA is a good place to invest or know of anyone currently investing in the area? I've also read about LeGrange and Newnan being good options as I am looking to buy my first rental. Any tips and advice would be greatly appreciated!

Thank you

[Jason Wray]

Mike,

I would also take a look at Doraville & Norcross just to look at a few lower price points that might cash flow higher. Peachtree Corners is great but you are going to overpay for location so if you do not mind a little bit outside the box both offer price points for half the purchase price but similar sqft. Good thing about both of those areas is you can find a decent offer that might be a little outdated or needs a little TLC.

That way you can put a little love into the investment and create a better ARV for the cash out down the road. I think this might offer a quicker build up of equity versus some of the turnkey homes in and around Peachtree...

[Mike Wilcher Jr]

@Jason Wray... Thank you, i'm familiar with the Norcross area and it didn't even cross my mind, I'm going to check both of these out as I'm doing my due diligence. Appreciate you!

[Lateefah Mathews]

@Mike Wilcher Jr Peachtree Corners is indeed quite pricey, as @Jason Wray pointed out. When considering between Newnan and LaGrange, my choice would be Newnan due to its proximity to Atlanta. Currently, there's a high demand for rentals in the area with low vacancy rates. Home prices are still reasonable, and you can find a great fixer for a decent price.

However, if you are more familiar with Norcross or Doraville, I would recommend exploring these areas before venturing into unknown territories. Be sure to check your calculations and the like to ensure that these cities align with the strategy you have in mind.

[Angel Peguero]

Hey Mike, 

I am a local Newnan Realtor! My team and I do a lot of business on the south side and yes, there are plenty of investing opportunities down here. Lets connect, shoot me a text, I’d love to see if I can help!

[Mike Wilcher Jr]

@Lateefah Mathews... I have seen the Peachtree prices, it is pricey indeed! I do like the sound of low vacancy rates so that has peaked my interest. I have been plugging in the numbers so it's just a matter of making the other stars align. I appreciate your info, very helpful!

[Mike Wilcher Jr]

@Angel Peguero... Sounds good, I appreciate it!

[Lateefah Mathews]

@Mike Wilcher Jr I'm glad you found the information helpful! I mentioned Newnan for its potential in the BRRRR or Fix and Flip strategy, among the other cities you mentioned. LaGrange will indeed offer low prices however on the sale side it's still rather weak and DOM is questionable there.

I'm assuming BRRRR or Fix and Flip is your investment strategy. Feel free to correct me if I'm wrong.

[Mike Wilcher Jr]

@Lateefah Mathews... Correct, BRRRR is one of my strategies but hopefully with very little rehab needed.

[David Holcombe]

@Mike Wilcher Jr I would figure out what investment strategy you want to pursue and let that drive your location decisions. Any of these neighborhoods could be good to invest in but it depends on what your goals/strategy are. If you're looking to do short term rental, for instance, Peachtree Corners would be better than Lagrange or Newnan since it's closer to demand generators. If you wanted to rehab properties, any of these markets could work.  I would also want to figure out whether you want to self-manage or have a management company. LaGrange and Peachtree Corners are an hour and a half apart so if you're self managing, that could make a big difference. You'd also want to keep in mind how long you want to hold a property.  For me personally, I like neighborhoods like Peoplestown or West End where the Beltline is coming through and there are other major developments in the works that will accelerate appreciation in those markets.  I also like markets like Cabbagetown/Reynoldstown because they're great to rent out to film/production guests. You can get better cash flow through furnished rentals there.  It really just depends on your individual goals/strategy.  Then there's always PadSplit which is about as high on the cash-flow spectrum as you're going to see in Atlanta. They have a totally different buy-box. Happy to chat Atlanta real estate anytime if you'd like! Good luck!

[Don Goff]

Quote from @Mike Wilcher Jr:

Hi BP,

Does anyone know if the Peachtree Corners section in GA is a good place to invest or know of anyone currently investing in the area? I've also read about LeGrange and Newnan being good options as I am looking to buy my first rental. Any tips and advice would be greatly appreciated!

Thank you

[Josh Bowser]

Peachtree corners is a good market -> northeast suburbs of ATL are fantastic. It's highly competitive there for a reason. More of an appreciation play as highly levered investments won't cashflow.

Lagrange and Newnan are solid submarkets for cashflow. Prices are lower and demographics are positive. 

[Mike Wilcher Jr]

@Don Goff... Thanks!

@Josh Bowser... Great info, I figured it's an appreciation market and highly competitive. Definitely a lot to consider. Thank you.

[Mike Wilcher Jr]

@David Holcombe... Thank you! 

[Roger Flot]

Quote from @David Holcombe:

 LaGrange and Peachtree Corners are an hour and a half apart so if you're self managing, that could make a big difference. 

 Maybe... if you have an F14, and its early Sunday morning on a very clear day.

[David Holcombe]

Quote from @Roger Flot:

Quote from @David Holcombe:

 LaGrange and Peachtree Corners are an hour and a half apart so if you're self managing, that could make a big difference. 

 Maybe... if you have an F14, and its early Sunday morning on a very clear day.

 Haha! Very true