Atlanta BRRRR Rookie

[Amber Golson]

👋🏽 everyone!

I'm Amber, a rookie investor residing in the Atlanta area. I started my journey last year with a partner by purchasing a short term rental in North Georgia.

I purchased my primary residence in 2016 and now plan to use my newly acquired HELOC to BRRRR my first of many properties!

I've been looking in Decatur 30032/0 and East Point 30344. But it seems I'm way late. Any of you have success stories in the area? Any of you currently working on a BRRRR in Atlanta?

Looking for inspiration, location ideas, contractors and friends with common interests.

Hope to talk to you all soon!

[Brenden Mitchum]

Hey @Amber Golson, welcome to the BP community!

Using your HELOC on a BRRRR is an awesome strategy. If done successfully you can essentially purchase an infinite number of deals with just that one primary residence equity. But I am sure you already know that so let's jump into those locations you are looking in.

No, you are definitely not too late (okay maybe for 30030). It is definitely still possible to find a deal in 30032 (especially more south) if you get out there and start hunting for something off-market. East Point is even more doable, but again you just have to be proactive and ready to pull the trigger. 

Now, what I do think needs to be taken into account is your ability to refinance in 6-12 months. You do not want to have all your HELOC cash stuck in a deal if something happens in the mortgage and/or housing market. The market is doing deceptively well right now and this may fool many new investors into jumping in while it is easier to grab properties due to seasoned investors hitting the pause button. The fact is that no one has any idea what the market will look like a month from today so jumping into a project with a long timeline that hinges on a healthy market is very risky. However, you can definitely still make a BRRRR deal work right now if you buy at a huge discount and have cash reserves to keep you afloat if there are any issues with the refi.

And now is a fantastic time to start networking and building that team, which you are already on top of! 

I'm more than happy to chat anytime or answer any questions you might have, just shoot me a message!