Property Management Blog

What to Buy and Where to Buy Investment Property in Atlanta

FourandHalf Blog Post - Thursday, May 29, 2014
If you’re wondering what type of property you should be looking for as an investment property, there’s really not one single answer. It really depends on your investment objectives. There are specific guidelines you should follow if you’re interested in buying single family homes, however. After buying properties for more than 22 years, I can tell you what those are. I have purchased every type of rental you can imagine; from mobile homes to sprawling houses worth half a million dollars. 

The rental market in Atlanta does have a sweet spot, and your job as an investor is to find it. You want to buy a property that rents easily and will always be in high demand. In the Atlanta rental market, that home is a three bedroom house or larger. It should also have two bathrooms or more. You don’t want to buy a one bathroom home. Those houses are hard to rent. 

Ideally, you will buy a house that has no lead based paint issues. This means shopping for something that was built after 1978. In fact, we recommend buying something that isn’t any older than 20 years. You’ll have fewer problems with newer homes. Also, if you have a choice, choose a property that uses sewer instead of septic. There’s nothing wrong with septic properties, but it’s an extra maintenance issue for you and it could be an expense down the road. 

An investment portfolio should be balanced and diverse. For example, split level homes are great for rentals. There is a lot of square footage available, and they are popular and easy to rent.

The number one factor when looking at any property is location. Location is important, especially in this market. Buying something in a neighborhood is a good idea. Houses in established neighborhoods rent better than properties that are just out on a street somewhere. Even better are homes with HOAs. Look for swimming and tennis communities. Renters like to be in neighborhoods that are well taken care of. Location is critical to desirability. 

If you are looking at properties in different counties, make sure you are looking in areas that are pro-growth, pro-landlord and pro-eviction. You want to have your rental in place that makes it easy to evict. In some Georgia counties, you can spend months trying to get a bad tenant out of your house. In other counties, you can do it in less than 30 days. 

Finally, don’t buy in a neighborhood that you wouldn’t want to live in yourself. If there are bars on all the doors and windows and houses look trashed or people are gathering outside or on street corners when they should be at work, common sense should tell you not to buy a house there.

If you have any questions, please contact us at Title One Management. We’d be happy to assist you in buying just the right investment property. 

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