All Forum Posts by: Matthew Surette

great, thanks Allen! I'll have to expand my research into those areas

@Allen ThomasThanks for your input. I wish I had the team on the ground there to be able to do some flips. How far outside of the Sandy Springs/Dunwoody area do you have to go to find the A class properties in that price range?

@Annette Cokerthanks for your input on the school systems

@Richard BalsamGreat points on HOA restrictions and thank you sharing your story on your first home, it certainly gives me something to think through a little further. Additionally, your points on ROI reinforce what I'm seeing the more I research, it seems very difficult to find any home to really come close to 1% in these specific areas. I'm guessing many of the buyers from 3-5 years ago are seeing safe returns at the current rental prices but getting in now seems much more difficult.

Thanks for the responses. 

Maxwell, that is correct I would prefer to be somewhat passive and not have to worry about what problems could arise with the higher spreads as you've stated.

@Azeez K.thanks for the detailed response. For the next few years at least, I know the person that would be staying at the property. They would be able to maintain it and pay rent. Obviously I still would account for capex, etc but would not have to worry about general upkeep, minor repairs or vacancy for approx 2-3 years at a minimum. The scenario would be getting a 30yr note around 4% with 20% down. I know cashflow would be low, but if the market is highly stable I'd prefer it to be in a safer A-B+ location to start. I know no one can truly project appreciation but it seems there still should be small growth year over year going forward based on some of my research but it's always great to get opinions from people on the ground there. 

Also, good to know about SFH vs condos, that was my initial thought but every market is different.

@Annette CokerThanks Annette, good to know. How are the school systems there? that seems to play a big part since the SFH investing is big down there compared to parts around me where no one invests in SFH and only MFH

Thanks for the response Michaela, and that is certainly good advice! I should have prefaced my thoughts on that. I have fully thought through those scenarios and would not consider looking out of state and into this opportunity unless I was 100% comfortable with that initial arrangement. I am mostly concerned with the initial questions and market thoughts in general in that area

I have an opportunity to invest in the North Atlanta area. I’m currently out of state but I have a friend in ATL who would live at and rent the property for a minimum of 2-3 years. My preference would be to continue renting if he would ever have to leave but would also like to have an exit strategy to sell if necessary.

Current areas considered would be within striking distance of the Perimeter mall area, i.e. Brookhaven, Chamblee, Doraville, Sandy Springs, Dunwoody, Vinnings, Norcross. Open to all suggestions within this general area considering current or potential future rents, ease of renting, up and coming neighborhoods, etc? RE taxes seem to be real high in some of the towns vs. others

Target property would preferably be max of $250-275k, have 3-4 beds, 2+bath and anywhere from 1600-2400 sq feet. Also trying to figure out what type of property would be the better investment in this area, SFH or condo/townhome?

Also, would anyone suggest this area wouldn’t be a good investment?

Would appreciate any insight!

Thanks for the welcome and the tips!

Hi Everyone,

I'm originally form Central Massachusetts but have been living just north of Boston for the last 15 years. I've always been very interested in REI but I'm finally ready to start things up officially. I've been reading through the articles and forums and listening to the podcasts for a couple months now. What a terrific and valuable site this seems to be!

Ideally I'd like to start out by getting some experience in rehabbing and flips, along with building a buy and hold portfolio for the long term (whether locally or out of state). I'm also lucky enough to have some up front capital to work with, although I'm still trying to figure out how to best allocate that from the start. I attended my first Boston AREIA meeting the other night and it was great to meet people in the business and make some connections which will hopefully only grow here on BP.

Looking forward to learning more from this great community and making the right connections along the way!

-Matt