Atlanta property managers guide and advice to Investing In Real Estate
Your Atlanta property managers have the knowledge about investing in real estate, and it is possible to make lots of money in real estate investing, but it is also quite easy to lose a great deal of money as well. Success starts with basic individual tips on the mechanics of investing in real estate. Read on to learn what it takes to be successful at real estate investing.
Don’t think that you always have to pay the list price for a piece of property. Many times an owner will make the price higher than it should be because they expect people to try and negotiate with them. Best deal are not found on your Atlanta FMLS (even though sometimes its possible to find a great deal), mostly, your best Atlanta investments deals will come from people you know, real estate agents, Atlanta property managers, or even your friends.
A fixer-upper may be cheap, but think about how much you will have to spend to renovate the property to bring it up in value. If the property only needs cosmetic upgrades, it may be a good investment. However, major structural problems can be found once you get into the renovation and will throw you off your budget in a heart beat. We've just recently had exactly this type of project and ended up spending $75,000 more than we planned! We are not loosing money on this flip, but this surprise has eaten into our profit a big time.
Don’t let your emotions be your guide in real estate investing. What you want personally certainly plays into home buying for yourself, but not for investing your money. Stick to what can make you money, and that is it. Always compare a property’s purchase price versus what you can make from it in terms of rental or fixing up and selling.
If you looking for a longer term investment and an income property, try seeking out a company involved in Atlanta property management. Even though their fees will eat into your profits, in the end, it can be a wise investment. The Atlanta property management company will market, screen your potential renters, do all the leasing, accounting, move in and move out inspections and handle any repair issues. Using an Atlanta property management company, allows you more time to search for new investment properties and opportunities.
Before you buy any investment property, you must evaluate the neighborhood where you plan to buy. The property itself is important, but in Atlanta, location of the property is crucial. It can make a difference in a flip of $200,000 or an extra/reduction of $1500 in monthly rent. Talk to as many neighbors as you can so you can get a feel for the neighborhood and if it will be possible to rent it quickly.
If you want to buy lots of properties and hold them as rentals for the next 5 to 7 years, be sure to thoroughly analyze the area where you want to invest. Look at the past statistics, old prices - before the market crash, and new prices over the last few years. Look at appreciation trends, rental price trends, property taxes and any new development that might be approved in the area.
Keep reading articles about investing in Atlanta real estate, speak to Atlanta property management companies, get advice from your peers and experts.
As your Atlanta property management company, we have the expertise to handle these important issues. We know where to buy, what to buy and if you are getting a good deal on your investment property in Atlanta. Give us a call if you are looking for investment properties in Atlanta, Ga. 404-937-1850.
Marina Shlomovproperty management company