Investors Flocking to Atlanta Property Market by the Bus Load

AtlantaInvestors are arriving in Atlanta literally by the bus load. The 11 Alive News show in Atlanta has just ran a story on our partners WRI Capital, the company that sources and renovates our below market value deals in Atlanta.

The story featured a bus-load of Australian buyers who were touring Atlanta with WRI to scope out potential purchases, many of them were not shy in stating their intentions to buy not one but multiple investment properties.

“The American dollar has dropped. Our dollar has stayed strong,” said Australian investor Greg Harper. “American house prices are down and we have the cash to spend.”

Story continues below video.

According to Andy Capps, a WRI manager, the firm sells 30-40 properties in Atlanta every month, 90% of them to foreign investors.

“Well, my intentions coming here were to actually purchase property,” said Anne-Maree Thomas, who used the weeks leading up to her trip to research the Atlanta real estate market.

“In Australia, for the amount of money I could buy a house like this one for, I can’t even purchase a mortgage for that,” she added.

“The values here are just terrific,” said WRI senior manager Jeffrey Britz. “It’s difficult for Americans to buy these. They’re not as active purchasing homes as they would have generally been.”

The firm has brought investors from China, the UK, Israel and Brazil to tour their offerings around Atlanta. According to Capps, the business is also good for the local economy, because local contractors are employed to renovate the properties they source.

“It’s good for the community because we’re coming in, purchasing a property that’s otherwise a blight on the neighborhood, sitting there vacant, susceptible to vandalism,” he said. “We’re coming in and putting a tenant in place.”

Join The Conversation - Be The First To Comment

Categories: America Property Investment / Atlanta Property / Property Invest

Tags:

Like What You Read? Stay In Touch

Follow Colordarcy on Twitter or Facebook