The housing boom of the early 2000s was very strong in Atlanta. When the bubble did finally burst, it left the city with a comparatively high number of brand new homes and homeowners who could no longer afford to live there. Prices fell to record lows and now these new homes that were constructed during the height of the market are a perfect option for investors as a low maintenance rental properties. The tightened lending requirements that went into effect and are still in place today have taken many of these home buyers or home owners out of the market. Couple this desirability with demand and you find that all these beautiful homes that were once easy to sell, are now easy to rent. With purchasing no longer an option for the majority of residents, rental rates in Atlanta have increased 10% in just this past year.
Compared to other major metropolitan areas, the purchase price of these investment style properties is lower, the average year built is more recent. And through it all Atlanta has continued to grow, maintaining the potential for appreciation and demand for rental property well into the future.
"Metro Atlanta adds 200 people a day to its population, or about one person every seven minutes, making it the seventh-fastest growing metro in America. According to On Numbers analysis of newly released population estimates from the U.S. Census Bureau, metro Atlanta added 72,909 residents between July 2010 and July 2011 for a total population of 5,359,205." (2012/5/29, Atlanta Business Chronicle, Jacques Couret)
Growth means the Atlanta population has become more diverse, and in recent years people relocating in the region have come from larger cities in the North and Midwest. Atlanta has, and will continue to be an attractive destination for those relocating from oversees. In fact, the city's ethnic diversity is greater than the nation as a whole. Atlanta is younger as well, with an average age in Atlanta of 34, the U.S. average is 36.
While population growth is a great way to estimate future demand on the short term, any major metropolitan area must be able to sustain that growth with an equal or greater amount of employment opportunities. Atlanta is home to many Fortune 500 Companies and other large employers, such as:
Why Georgia Associated Realty?
Thousands of investors have already discovered the potential here, and if you have already purchased or tried to purchase an investment property in Atlanta recently, you know that the competition for these homes has gotten fierce. Unless your plan is to just pay more for these properties than any other investor, you need a seasoned agent with the knowledge, experience, and relationships it takes to acquire the properties at a price that allows attractive returns.
Georgia Associated Realty is uniquely small and specialized team of professionals dedicated to redefining what a client should expect from their real estate agent. Our proven experience with investor acquisition is virtually second to none. In the past 3 years, we have sold over 300 properties solely to investors who reside outside of the United States, and in that high volume of transactions we have enountered and overcome every obstacle that comes with foreign investment. From day one, we offer a full service solution that includes sourcing properties, inspections and evaluation, acquisition, all the way through to renovation and leasing/property management. Feel free to check out our wholly owned property management division, Top Rentals at http://www.toprentalproperty.com
We do not purchase these properties and then resell them to you for a profit like some other investor oriented teams. We do all the hard work with you step by step in order to purchase the property directly from the bank or corporate seller, as such we have no conflict of interest, and there is no huge profit to be made by selling you a property that isn't absolutely perfect for your financial goals.
The most important aspect of choosing a real estate professional is experience, regardless of how well an agent has perfected their sales script, you are still just a person on the phone who has almost no way to confirm if the agent you are talking to is actually good at what they do. Are they just telling you what you want to hear in hopes that you will work with them so then they can quit their part time job as a gym trainer and begin to use your capital to experiment with what properties work as investments and which ones don't?
In considering a real estate professional it is imperative that you insist on being provided verifable data showing their sales experience, the actual property addresses of what they have sold, when they sold them, and is that property still currently producing the return they projected?
According to the National Association of Realtors, the average agent closes only 8 transactions per year. Compared to last year where Georgia Associated Realty closed 281 transactions in only 259 business days.
The data is available for anyone to see, we do more in one week than most agents do in the entire year.
As a side effect of all this business, we have worked with and built relationships with almost every listing agent in the metro area that sells on behalf of banks or other financial institutions. They know us...they enjoyed working with us on the last deal a few weeks back, and they know when they see an offer from Georgia Associated Realty that our clients are decidedly serious and actually have the cash on hand to purchase.
To explain it another way, when there are 18 different all-cash offers on a high-demand property, these hard earned relationships with the sellers give our clients the edge. Because every bank asset manager knows that an offer is not worth the paper its written on unless its actually going to close, and we are not in the business of killing trees for no reason.
For a personal consultation or even if you would just like some questions answered with absolutely no strings attached, please give us a call at 404-478-7879. Or feel free to submit a contact request and a member of our team will contact you within the hour.
If you already know what you are looking for, or would simply like to look around. Please feel free to use our DIRECT MLS search to browse the most up to date information about any properties that might be of interest.