All Forum Posts by: Kelly Eads

Looking for investors wanting to flip in the metro Atlanta market. The market is HOT right now and it is a great opportunity to flip. We are a full service real estate company and can handle the entire process for you from acquisition, renovation, establishing your GA LLC, connecting you with the best hard money lenders in the area; everything through to close.

If you have been looking to start; team up with a long term, seasoned & experienced, flipping broker.

Hi everyone; I need a few houses in the Atlanta area and would love to see what you have available that meets the following criteria;

1) need a property built 1990 or newer, 3/2 or larger, preferably a 2 story with 2 car garage, detached (not townhouse) no more than $100k.  Light rehab ok and any county in Metro Atlanta is fine.

2) need rehab properties in 30310, 30316 or 30311 zip.  Preferably below $60k and 3/2 or larger.  

I search schooldigger.com, (schools = value), city data to learn the median home price & income; check vacancy rates, landlord tenant laws then find a quality property manager if you are keeping buy and holds. Start with the end in mind and work your way backward. Just like flipping. You get the ARV then subtract repair cost, then profit margin to determine your purchase price. You are working your way backward. Learning a market you don't know is just like that. When I 1031'd my CA profits out east I studied on realtor.com (been almost 10 years so maybe better resources now) to find areas that were low priced with high rents and low vacancy rates. Make sure there is a good employment base around the area. Then study the neighborhoods to see if they are mostly investor owned. Stay clear of those. You want to be in a limited investor area (otherwise too much competition when you have a vacancy) and owner occupied neighborhoods tend to take better care of their properties and see higher appreciation.

Just my opinions but that's what I did when investing out of state.  Your property manager is key.  If you don't like them change, and do it quickly!  Don't sign with anyone that has termination penalties or that doesn't list your property on the mls.  

I too am an Atlanta Broker.  Have been an investor myself for over 15 years dealing in fix n flips, wholesales and rentals.  We own a property management company as well so I have insight into good rental neighborhoods. 

Feel free to PM me.

Thanks,

Kelly

Actually the bars have been removed.  The pics were taken before the rehab was finished.  The property was purchased at tax auction by the previous investor and sat vacant for over 2 years without any vandalism so I'd say it's a pretty quiet/safe neighborhood.  I'm guessing a previous owner favored the look because no, there are no bars on any other windows.  The neighborhood has a lot of houses being rehabbed and it's mostly owner occupied with some rehabbed properties being held by hedge funds and individual investors. It rented in less than 2 weeks.  I love rentals that rent fast!

Coming from CA originally I invested my money out east.  I made it in CA but buy and holds don't make sense where you are upside down.  Appreciation is CA's foot hold.  Georgia is where I settled and is the #1 investment market in the US right now.  GA has very landlord friendly laws, quick eviction processes if you get non payers which is key.  I sold my last rental in CA when the judge gave the tenant 75 days for free and made me give her back her security deposit before she ever moved out of the property!  No thanks!

Great 5 bed 2 bath rehabbed Atlanta property rented for $1000 per month with management in place just $89,000.  14% gross yield with cash, 67% gross yield with 20% down.