Atlanta property represents once in a lifetime opportunity

Prices in Atlanta are now so low that it’s a once-in-a-lifetime opportunity for investors able to buy for cash to pick up a property for up to 50% below market value. Buying property at this kind of discount means that rental yields of up to 15% are possible, especially as the numbers of people choosing to rent are still increasing while the economy recovers. This type of investment is never without risk, and it pays to spend some time doing due diligence.

It is essential to research the area in which you are interested, and to buy in suburbs that have previously been affluent as these are more likely to recover faster. It’s also important to take into account the fact that although prices have declined enormously, they may still have a little way to go before reaching rock bottom, even though losses incurred as a percentage on a cheap property may be quite low. This could make selling in the short term difficult so this has to be regarded as a long-term prospect.

The good thing about buying property right now is that the low price of the property makes it much easier to recoup the cost of the property within a few years, making future rental yields pure profit. There are management groups that will take care of the whole process of buying a house, refurbishing it, finding tenants and paying the taxes. It’s highly likely that the tenants will be found through the governments section 8 housing scheme which provides low income housing for households and gives a minimum tenancy of 12 months to tenants that have been thoroughly vetted.

 

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Categories: Atlanta Property / Property Invest

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