There are several reasons you are going to love Atlanta, but the main one is that 75% of fortune 1000 companies have operations here, it’s got the greatest climate in the country, it is very moderate, and as far as you can get new inventory and you don’t have to worry about old houses and old housing stock that always seems to have new problems. In addition to that, the rent rate has gone up significantly in the last five years. Also, Atlanta is one of the least expensive markets in the United States.
What is a typical property like?
It very, sometime it is around 100,000$, but basically, numbers are moved up to 200, 000$. This size property in Atlanta is perfect because it is the first time home buyers market price. That market segment never goes away, so you know you always have a way to get out of property that you get into. And that is what you need to ask yourself if I buy this house today, can I sell it in the future?
What special thing investors should know about this market?
Well, you should carefully choose your agent. Because one of the things the good agent can offer is a three-year lease on the property. One year rents are bad because turnover is the most expensive cost of this business. Look for the houses that are rent reliable houses, and also can come with a landlord protection plan. Another thing that separates important, and this is really big, your agent can get you a management company where there is no mark upon repairs or rehabs. And that is the main thing separating them from big companies.
Thoughts on the future real estate appreciation
Future appreciation, nobody has a crystal ball so nothing is for sure. But one thing is clear, in Atlanta, and in the south in general which is where the biggest appreciation is taking place, it may continue to go up for a few years but at some point, we are going to have the market correction and nobody knows what that is. So what you need to know when buying and investing you should look for cash and cash returns for predictable income because that’s really while you really in it, the appreciation is a just added benefit to buying and holding real estate.