All Forum Posts by: Jermaine Grant

Hi all,

Let's get straight to the point: 711 Cosmopolitan Drive Atlanta, Ga 30324 Unit 234. Listed for $244,000 1 bedroom Condo recently renovated overlooks the pool area.  Is this a good investment for the Lindbergh Buckhead Atlanta area?

@Eamonn McElroy very good point. It seems like a safe area but I’ll check the facts. That area also has apartments and condos overload with all the new builds. Competition could be fierce in that area as well. 

@Eamonn McElroy Thanks for the input, I will add those questions to the list I have for the property manager.  I do know that they are already maxed out for the rental cap but am waiting to hear back on how many others are on the waiting list, etc.  

I'm still in due diligence so hopefully I'll have the answers needed in the next couple of days.  The rental prices are surprising since the big complexes over here all charge $1900+ for 2-3 bedrooms, it's odd that the privately owned units are going for so much less.

Hey guys, 

I'm under contract for on a Condo in the Lindbergh/Buckhead area of Atlanta for $205k. Its a 2 bedroom, 2 full bath, with a den that can be easily converted to a 3rd bedroom (just needs a closet) - so it is basically a 3/2. The HOA fee is $346. The community is walking distance from the Lindbergh MARTA station, gated, and has a pool, gym, clubhouse, and tennis court. It is also right next to the Beltway/Path 400. It has a wood burning fireplace, built in bookshelves, and outdoor space. It's in move-in ready condition but I'd prob replace the carpet in the bedrooms and do some upgrades in the kitchen at some point.

I plan to live there for a year to take advantage of my VA loan (no money down, 4.4%) and then rent it out. For the area, it seems like a slam dunk deal since everything else comparable in Buckhead is $250k and above. However, when I put out test market ads on FB marketplace, zillow, and hotpads to see what rent I could get, NO ONE is responding. I'd ideally want it to pass the 1% rule and get $2,000/mos at least, but I'm not getting any hits even at $1800/mos. Current owner is renting the unit out way below market at $1,200. I'm renting a one bedroom across the street for $1,350/mos.

What do you think? Is this still a good buy even though I'm not getting responses to my dummy ad for the rent price I would want to get?