All Forum Posts by: Kelly Rambo

@Kush Khandelwal, sorry this is happening to you.  First, I think you need a real estate attorney that specializes is landlord/tenant issues for the best advice.   Second, take my two cents for exactly what it’s worth - 2 cents or less.  Sounds like they want out  and after you have the home assessed and treated, they will find another reason to want to break the lease.   I’d ask them the following, “once we assess and treat (if necessary), do you think you would still be comfortable staying?”   I’d approach it from I want you to be happy here and would hate for you to stay if you wouldn’t be happy here.”  While I recognize this means you have to find a new tenant, but it seems like that may be in your best interest.  If they have not been there a month yet and already threatening to break the lease, it seems likely that in another month it will be something else and on and on until the relationship goes far south.   Again, just my 2 cents.   Good luck.  

All good advice.   I’d only add a few things:  

1) Be careful on Zillow with the FSBOs.   I’ve found many to be scams, especially the ridiculously low priced listings.   

2) As you look for a home to live in, know what is most important (strong rental potential, high appreciation, etc.) to you and be ready to make some trade offs. 

3) If you’re looking ITP (inside I-285), visit the Atlanta Regional Commission website and the Atlanta Beltline website to gain an understanding of planned development for various areas, ie Westside Park, Westside Trail, transportation, etc)

Best of luck and enjoy the journey!!

Hi @Jared Sandler!  Considering the market is such that it is, it’s kinda hard to find an “area to avoid”.   It is my opinion that the best area depends on your strategy.   If you’re looking for buy and hold you can generate strong rents in the city limits and the close-in suburbs.   If you’re flipping you may find the greatest appreciation anywhere near the Beltline including the Westside portion that is not yet developed.  Best of luck!

The Container Store has a luxury line called Laren.  You can see examples on their website under Custom Closets.

Completely agree with @Randy Lee.  Fairburn Heights and Carroll Heights are both 30331, but Collier Heights is 30318.  There is some appreciation in those areas, but not quite like 30318.  Good luck!

@Anks Desai!   Like @Quentin Davie said, the Beltline is a huge draw for Atlanta.  As for your concerns about crime, I’m not aware of any densely populated cities that don’t have it.  In considering all locations, you may want to check Trulia’s crime heat map.  It compares locations relative to the average for the area.    You may also check a site called Crime Reports.   It breaks down the types of crime.  One drawback is that every police agency does not report their stats here so you may need to dig a bit deeper, if you need more info.  Good luck!

Hi Nicola!   I’ve used Weissman PC and Ganek PC for investment property closings.  Good luck!

Union City is in South Fulton County, not too far from the airport.  IMO, it is a better buy/hold market than flip.  It is conveniently located to Atlanta, not far outside of the perimeter, with good access to freeways.  

Congratulations Haley!  Remember to enjoy the journey.  You will learn a ton of stuff as you travel this one. 

As for your questions...

1. What do you think is better strategy: invest in a market with lower price points so that I can purchase more properties given the same investment amount, or stick with market I live in at a higher price point since I am more familiar?

Like many others have said, stick to markets for which you are familiar.  Yes, you could go to areas with lower acquisition costs, but will it be worth it in the end?  It's a toss-up, but I'd guess no, at least not initially.  Until you have a strong PM team and experience with a variety of rental situations. 

2. What resources /articles/books would you recommend specifically on how to assess and evaluate different markets/cities? 

Some resources that may be valuable to you are an app that helps you quickly evaluate properties that you are considering.  I use Property Flip or Hold which is only available for Mac (no mobile).  I've had it for years and I think it cost me $20 about 4 years ago.  Admittedly, my most used tools are Realtor-only tools, but I'm sure there are tools available to the public - just don't pay thousands of dollars for some "proprietary" tool.  Remember, we all have either time or money, but not usually equal amounts of both.  Pay for what you don't have time to do or research what you don't have money to pay for. 

You should also make sure you have an investor-friendly closing attorney that will handle your title work and closings. 

Since the market can change in a heartbeat (and sometimes less than that), I'd recommend current articles over books.  With the market pace in Atlanta right now, anything published in December is outdated and may not be relevant.  Check out the Atlanta Business Chronicle for market info, trends, and upcoming developments.

3. It is quite possible my quick search on Atlanta market pricing is off... if so, what areas in Atlanta would you recommend that I look at that would meet my criteria above?

No, your pricing is not off, IMO.  I, like most investor/agents I presume, are on wholesalers mailing lists.  I've seen aggressive pricing on wholesale deals as well as on-market deals.  If you have cash available, you may try the county foreclosure auctions.  There are a considerably low number of properties offered right now, but all you need is one to get started.  To answer part two of your question, there are no areas ITP that are consistently below 100k. Even teardowns can be above 100k.

Best of luck to you, Haley!  

At the risk of saying what you already know, the current market is so hot - cash is the winner.   If you are looking to build a rental portfolio, you might check out properties that are tenant-occupied with good (read: paying) tenants.  Those properties IMO are too much trouble for flippers as the tenants are usually looking to stay - especially with such a housing shortage. 

Since you're new to the area, drive as many areas as possible to get familiar and make a play for suburban areas that may not have quite the appreciation of many in-town neighborhoods.  

Best of luck!  You'll rock this!