Looking to invest in South Atlanta- Peachtree City Georgia

[Mike Carino]

Hello, I am an out of state investor looking to pick up real estate south of Atlanta in the Peachtree City/Newnan area. I know the area very well and travel to the area often for business. I am looking for a broker/investor/or rehabber that knows the area well, has access to the wholesale/foreclosed properties (if they exists) and can help me through the process. Particularly would like to invest in Peachtree City area, but based on pricing 3bdr under 100k max may limit me to Newnan. Also has anyone have experience with Section 8 in the area? I do not know much about Section 8 assistance. Can I chose exactly who I want to put in the property? . I plan to finance but have funds to rehab, close, down payment on a loan etc. If anyone can help or point me in the right direction I would appreciate it. Thank you all

[Jonathan Mednick]

Hi Mike,

I am in Birmingham, AL about 2.5 hours West of Atlanta. I do quite a few deals here in Birmingham with my investment groups, two of which are from Atlanta.

There's a reason they are buying here and not in Atlanta. They cite that the market has gotten so hot, that often anything listed is under contract in 3 days or less and they have to go above asking price just to have a chance at winning. However, the margins on cap rates remain the same. Therefore, paying more but getting the same cap rates as before.

Blackstone, American Homes, Colony all came into Atlanta about a year ago or more and started buying everything they could at the foreclosure sales driving up the prices and sending local investors into other markets.

More investors are looking at small metro markets that are under the radar like Birmingham, Indianapolis or Kansas City. They want on the ground turnkey operations and that's what I provide here in Birmingham.

I started out like you trying to buy remotely when I lived in Fort Lauderdale two years ago but with all the personnel needed to run a smooth ground operation, I decided I need to be in Birmingham. 175 houses later, still going strong.

So whatever markets you do eventually invest in, find the local services like mind that could handle all your needs - from acquisitions, renovations, leasing, to property management.

Good hunting.

Jonathan