All Forum Posts by: Chris Poynter

@Nolan Gray

I’d be happy to help. I’ve sent you a PM with some details.

@Patrick Volum

The Atlanta market has done well over the past few years and I expect appreciation as well as gross rents to continue to increase favorably in certain areas. If you are looking for C/C+ neighborhoods I would suggest Henry County (McDonough/Stockbridge/Locust Grove). This is where you will get your bang for your buck. In my personal rental portfolio as well as rentals I manage for OOS clients we have purchased SF properties in the $160-$180k range and have easily rented them out for $1700. Other areas of the metro area have gross rents at or above the $1600+ range but you are going to be paying significantly more per property.

I could see how multi family can be enticing especially being out of state as one central unit with economies of scale would be easier to manage. This assumption is true but in my experience COVID has definitely had an impact on multi family prospects. Many tenants prefer to have their own single family unit and are leery of proximity. This is a new development, I still believe multi family is viable, this assumption is highly location based but just a thought.

As stated above you do have to come to play in the south metro market. If the property is nearly turnkey or even as is properties are flying off the market well above asking price. If you can find a good agent/broker and basic rehab/maintenance team that you have systems in place with to act quickly and efficiently you will have no problems investing out of state in Atlanta.

@Linus Zhao

Hi Linus I am a investor and property manager in the south metro area of Atlanta.

In 2019 I bought my first SF home in Henry County for $144k. Over the next year I lived in the property and self rehabbed $12k worth of cosmetic updates. In October 2020 the house for appraised for just over $180k and is currently rented out at $1600/mo.

I also manage a rental portfolio for multiple OOS investors. Recently we purchased 2 SFH for ~$175k each in the Locust Grove area of Henry county. Both homes require <$5k updating with the first renting for $1700 and the other we will be posting for $1800 in mid February.

Henry county has experienced explosive job growth due to a large warehousing presence as it is along the I-75 corridor and within a short commute to ATL. In my experience there is a large stable applicant pool that easily surpasses the supply of homes for rent. We have screened and placed tenants in 10-15 days on average. We have been able to rent out SFH's easily with in the 1% rule, often exceeding.

Gross rents in Henry County will continue to rise along with value appreciation that as it stands right now is in the 12-14% range annually and is outpacing the prices of homes on the market. My business has had a positive experience in the south metro market, might be an area you want to check out. Feel free to reach out if you have any questions about the area or managing properties out of state.

Good luck!

Hello BP Team,

I am an investor in the south metro Atlanta area of Georgia. I currently have a single family rental in Henry county Georgia but I have my eye on Spalding county to the south.

My question is do you guys see growth heading south of Henry County in the next 3-5 years? I am potentially buying my next primary residence near Williamson, GA and am interested in purchasing more rentals in Spalding county. Does anybody live in that area that could provide some insight on Spalding’s plan to attract jobs, people, businesses etc?

Thank you

@Bryan Mitchell

Bryan, I haven't found any properties that fit my criteria either as of lately. A lot of investment going in to Henry county right now and in the future so it looks like rents will remain/increase. I'm looking for SFH to buy and hold/BRRRR, do you have a local REA and lender you work with? Trying to expand my network.

Thanks

I am a new investor looking for to connect with investors in my local area. I am in the 30228/30253 area and am working towards finding my first investment property. Any advice/experiences are welcome.

Thanks,

Chris