All Forum Posts by: Ferry Vendy

Hey @Ferry Vendy

Great topic, man! As you can see, great deals are pretty rare in the Atlanta area right now. However, they do absolutely still exist, depending on your strategy and if you know where to look. 

One of my clients closed on a sweet little section 8 condo last month. Purchase price was $80k and rents out for about $1k. 

Another client is under contract on a flip right now for $140k and ARV is $280k with an estimated $70k in renovations. We're out of DD and feeling confident this one will close too so fingers crossed!

Neither is an absolute home run but definitely solid deals. That being said, both clients took about a month of searching to find these deals so we are certainly not swimming in them here in Atlanta. Also, both deals were in Decatur so might be an area to keep your eyes on.

Please, feel free to reach out anytime if you have other questions or just want to chat!

Depends on what you mean by a "great" deal. I would argue Atlanta generally doesn't have "great" deals anymore. That was years ago. But there is still cash flow (not huge amounts, but it's there) and there are still deals.

@Ferry Vendy hey, just saw your respond to my comment on your other posts. I want to follow this thread and know what investors are buying and how much they have to offer above asking price just to get it.

Also the bidding war situation get very frustrating starting late September to me. I was able to find turn key rental around 230k that can rent for 1500-1600 without adding any $$ in early September.

Hey Ferry, if I may ask are you looking for turnkey rental properties or properties that need some work that you can BRRRR?

Hi Ferry, I'm an Atlanta based realtor(and investor myself). You probably heard this already. Inventory is very low and prices are still going up. You will still see properties on market that you can do 1 and 2 with. But you gonna run into bidding war on property that's decent and in good area. Past 2 weeks has been quite frustrating for me because I've wrote quite a lot of offers. Some for property around 170-180K range. Ran into bidding war , didn't get them after adding 10K above their asking price. Also offered on properties in between 200K-250K. Added 2000-5000 still didn't get them. Heard they went with Cash buyers or people who offer higher with no DD. we are competing with a lot of home buyers who are willing to give up DD and offer numbers that won't make sense to investors..  Any way, not trying to scare you off, i believe deals are out there tho. I guess my suggestion is to have patience and explore all options at the same time at the moment. 

We focus on affordable housing and Atlanta metro doesn’t work for us. The “affordable” areas are just too risky and don’t provide adequate cash flow for our model. 

We invest south of Atlanta, from Henry County down to Macon, where we get excellent cash flow and manageable risk (but there is still elevated risk).  We can buy and renovate a home for an all-in cost in the low to mid 30s, and rent it for $600-$700. We choose our tenants very carefully...very carefully...and they deliver great cash flow. 

If you’re willing to go into lower income areas, with some leg-work you can find a decent turn-key home for $40-50k, already leased for $600-$750. They’re not the nicest areas in town, but just because the neighbors don’t make much money doesn’t mean they’re bad people.