Atlanta, A Property Investors Dream

Atlanta’s Investment Properties

Atlanta, GA is in the top three hardest hit housing markets in the country and without much hope of changing in the near future. What is terrible for Atlanta could be a property investor’s dream. Home prices have never been so low and according to Zillow’s predictions, they could get lower. This is the time to think of Atlanta investment property. The inventory of foreclosed homes is high, interest rates and prices are low; it is time to get your financing together and find yourself some investment property in Atlanta.

Do your Homework

Find out all the local and state laws that effect investment property in Atlanta.  You will need to research all the rental regulations and tax laws. Next, find an experienced property investment agent/broker that is familiar with Atlanta’s best areas and neighborhoods. Then start searching for the perfect investment property. Experts in the Atlanta housing industry are advising investors to find fixer-uppers in good neighborhood to renovate and resale or use as a rental property. Unless you are from the Atlanta area, I can’t stress enough, how important a local property investment expert is to you and your investment success. They can not only find you the right house in the best areas, they also will know the best management companies to help you maintain your investment property. It will be a lasting relationship, as you invest in more Atlanta properties.

Buying an Atlanta Fixer-upper

With so many foreclosures in Atlanta; homes become run down through neglect or vandalism. It is especially important that you find and hire a reputable home inspector before you purchase, to know everything you will be getting into with this investment property. Depending on the inspection report you may want to keep looking. You don’t want a money pit. Previous owners may have sold off all the appliances and fixtures. The homes lose even more of their value. This is good for you. Finding a home at well below market value gives you instant equity. And with a little work and money you can bring the property back to life. And back to the standards of the rest of the neighborhood. You should plan on replacing and updating kitchen appliances, cabinets, bathroom fixtures, wood flooring, carpeting or tile and repainting everything inside and out. The yards will have been sorely neglected, so you will need to replace grass and plants and possibly trees.

If you have the skills and can do most of the work yourself, you can save thousands on the renovation. If not, ask your advisor for names of reputable tradesmen that can do the work well and in a timely manner. You will want that home filled with a good tenant as soon as possible. Your Atlanta property investment advisor can help you find the best management company to take care of renting the property and all that goes with it. A management company usually charges about 6% of the total rent. But, if you don’t live in the Atlanta area, it will save you money on repetitive trips and from the everyday stress of the rental business.