I couldn’t agree with Karina more on fun times to have in Atlanta....with Vegas tight and upward pressure, this is a cheaper alternative no question (with all the caveats of wet, wood, termites, damp, rot, composition shingle roofs, lawns to be mowed etc versus bone dry, desert rock that doesn't grow and not a termite to be vaguely worried about....aaaah the joys of minimal ongoing maintenance... sorry, still love love love Vegas)
For those who like the thrill of the hunt and are considering Atlanta I just have to say it beats the HECK out of Vegas for freedom of information - it just completely ROCKS by comparison to Alaska or Vegas... Tools I couldn’t live without here that will become your best friend....
1) Listingbook.com <http://Listingbook.com>
2) GeorgiaMLS.com <http://GeorgiaMLS.com>
3) Usual – Gosection8.com and Zillow (Go section 8 to see section 8 rents in the area closest to your house)
What is BRILLIANT is that the GeorgiaMLS (multiple listing service) is available to us as investors..
(unfortunately one of 2 MLS services - they aren't linked sadly and some agents list only on one or the other - FMLS - or Fusion MLS- that we can’t get to but just ask any real estate agent to set you up)
GeorgiaMLS though...Just GENIUS....- download the iPad or mobile app... Just so much fun to play with. I can literally be sitting in any town I love and click on the “locate properties near me” and it pops up with everything for sale. I have a favourite sushi place I have adopted and just had to bid on the house walking distance to it.... Try it..... So so so cool... otherwise just from desktop use the main GeorgiaMLS.
Listingbook is even better in some respects because (after you randomly select a real estate agent to help you), you can click on a zip, narrow the search by an area, and ALL THE PAST SALES FOR THE SUBDIVISION pop up.... In Vegas the best we have is Zillow and the MLS, over here in ATL, Listingbook deserves pride of place in your shopping arsenal!
SAMPLE LIVE PROPERTY AND STEPPING THROUGH THE PROCESS FOR HOW TO LEARN ATL PROPERTIES
This is random – it is a Marietta property that I saw a couple of days back....this is not picked for any reason other than random and a bit high in price (so a cash lowball by 15k might be a fun try!)... anyhooo the point is to play with any property whatsoever just pick one from the 9,000.... So there are 50k properties, 35k properties, 150k properties etc...choose whatever strikes your fancy:
1470 Chamirey Drive, Marietta 30008
MLS# = 4306104
List Price: $74,900
Zesstimate: $94,000
Rent Zesstimate: $1124 - $1300
HOA: $130 (sigh, you know my feelings on that ... I haven’t seen a huge difference in rental yields either but this is a cheap HOA)
About:
Eyeball rough Repair Estimate = under 5k (great shape – paint/carpet, some laminate floor fittings, appliances, missing a downstairs mirror, 2 sheetrock patches etc.. Electrical was on a/c present, water heater, no signs of termites etc)
Marrietta – home of an AFB and Lockheed Martin for employment
3 bedroom, 2.5 bath (would rather 4 br) but pretty!
Sq foot: 1985
Year Built: 1996 (NO signs thank goodness of munching damage on this property – ie wood or termites etc - none of the usual dank smell either)
Taxes: $1034 per annum
Oh yes, did I mention A/C unit in tact – only one (more likely in “better” areas that the a/c unit is still there)
Siding: Hardiplank - http://architecture.about.com/od/sidingconstruction/g/hardiplank.htm*
******* versus press board siding or composition board siding which you don't want so much******
http://www.usinspect.com/resources-...s-home/exterior-surfaces-cladding/composition
Think cardboard when wet!
********
Roof: Composition Shingle
ALL properties are postcard cute so get over that.... However this did have excellent flow...and I mean, give me a Christmas tree, a US flag and call it good!
How to find....
1) GeorgiaMLS... LOVE it.... Www.georgiamls.com <http://Www.georgiamls.com> – type in the address or zip and see everything available ACTIVE AND TODAY.... not zillow timing! THIS IS ALSO WHERE YOU CAN GO TO SEE WHAT IS LISTED FOR RENTS AND COMPARE FOR YOURSELF WHAT IS LISTED IN THE MLS (well at least those that the agent lists on GAMLS) for your area.
And now, my favourite toy....
2) Listingbook....www.listingbook.com - set up a free account, choose any random real estate agent and go play!
TO FIND SUBJECT PROPERTY
Also called “why I love listingbook”:
Click on Homefinder – this brings up EVERY property I have in “my criteria”... Knock your socks out!!! There are only about 91 pages of them....
Click on “Quick Search”... Just LOOK at all the options (but ignore them for now, you can play later)
Under Search Criteria type in the MLS number of this property: 4306104
NOW this is COOL..... Click on the actual address above the picture 1470 Chamirey Dr
NOW...drum roll.... Love love love this... Usual stuff so far but wait, there’s more... Now, click on the tab “Area Sales”... Okay now HOW COOL IS THAT – List versus Sales Price etc???
From this we can see that this subdivision – called Wilmington has had 3 other recent sales... $116,900, $115,000 and $72,000 within 6 months...(oooooh, guess which one of these was a cash buyer, quick, quick!), so how would you feel with that news if you bid 60 - 66k cash and won!? Heck lowball and bid 50k.... You never know (might get RSI but what is the worst that could happen – they say no?)
BUT WAIT, there’s more..... What if you have NEVER been to Atlanta and want to know what your tenant would look like – who would they be, what would they earn.....? Go back to the tab labelled “Community Information” and knock your socks off...60% owned – incredibly low vacancy for Atlanta (under 10)... But yes, even the weather risks – SERIOUSLY!?! For those who love to research this is just amazing.....demographic data like that normally has to be paid for!
LOVE IT.
Happy hunting everyone....
For those who like the thrill of the hunt and are considering Atlanta I just have to say it beats the HECK out of Vegas for freedom of information - it just completely ROCKS by comparison to Alaska or Vegas... Tools I couldn’t live without here that will become your best friend....
1) Listingbook.com <http://Listingbook.com>
2) GeorgiaMLS.com <http://GeorgiaMLS.com>
3) Usual – Gosection8.com and Zillow (Go section 8 to see section 8 rents in the area closest to your house)
What is BRILLIANT is that the GeorgiaMLS (multiple listing service) is available to us as investors..
(unfortunately one of 2 MLS services - they aren't linked sadly and some agents list only on one or the other - FMLS - or Fusion MLS- that we can’t get to but just ask any real estate agent to set you up)
GeorgiaMLS though...Just GENIUS....- download the iPad or mobile app... Just so much fun to play with. I can literally be sitting in any town I love and click on the “locate properties near me” and it pops up with everything for sale. I have a favourite sushi place I have adopted and just had to bid on the house walking distance to it.... Try it..... So so so cool... otherwise just from desktop use the main GeorgiaMLS.
Listingbook is even better in some respects because (after you randomly select a real estate agent to help you), you can click on a zip, narrow the search by an area, and ALL THE PAST SALES FOR THE SUBDIVISION pop up.... In Vegas the best we have is Zillow and the MLS, over here in ATL, Listingbook deserves pride of place in your shopping arsenal!
SAMPLE LIVE PROPERTY AND STEPPING THROUGH THE PROCESS FOR HOW TO LEARN ATL PROPERTIES
This is random – it is a Marietta property that I saw a couple of days back....this is not picked for any reason other than random and a bit high in price (so a cash lowball by 15k might be a fun try!)... anyhooo the point is to play with any property whatsoever just pick one from the 9,000.... So there are 50k properties, 35k properties, 150k properties etc...choose whatever strikes your fancy:
1470 Chamirey Drive, Marietta 30008
MLS# = 4306104
List Price: $74,900
Zesstimate: $94,000
Rent Zesstimate: $1124 - $1300
HOA: $130 (sigh, you know my feelings on that ... I haven’t seen a huge difference in rental yields either but this is a cheap HOA)
About:
Eyeball rough Repair Estimate = under 5k (great shape – paint/carpet, some laminate floor fittings, appliances, missing a downstairs mirror, 2 sheetrock patches etc.. Electrical was on a/c present, water heater, no signs of termites etc)
Marrietta – home of an AFB and Lockheed Martin for employment
3 bedroom, 2.5 bath (would rather 4 br) but pretty!
Sq foot: 1985
Year Built: 1996 (NO signs thank goodness of munching damage on this property – ie wood or termites etc - none of the usual dank smell either)
Taxes: $1034 per annum
Oh yes, did I mention A/C unit in tact – only one (more likely in “better” areas that the a/c unit is still there)
Siding: Hardiplank - http://architecture.about.com/od/sidingconstruction/g/hardiplank.htm*
******* versus press board siding or composition board siding which you don't want so much******
http://www.usinspect.com/resources-...s-home/exterior-surfaces-cladding/composition
Think cardboard when wet!
********
Roof: Composition Shingle
ALL properties are postcard cute so get over that.... However this did have excellent flow...and I mean, give me a Christmas tree, a US flag and call it good!
How to find....
1) GeorgiaMLS... LOVE it.... Www.georgiamls.com <http://Www.georgiamls.com> – type in the address or zip and see everything available ACTIVE AND TODAY.... not zillow timing! THIS IS ALSO WHERE YOU CAN GO TO SEE WHAT IS LISTED FOR RENTS AND COMPARE FOR YOURSELF WHAT IS LISTED IN THE MLS (well at least those that the agent lists on GAMLS) for your area.
And now, my favourite toy....
2) Listingbook....www.listingbook.com - set up a free account, choose any random real estate agent and go play!
TO FIND SUBJECT PROPERTY
Also called “why I love listingbook”:
Click on Homefinder – this brings up EVERY property I have in “my criteria”... Knock your socks out!!! There are only about 91 pages of them....
Click on “Quick Search”... Just LOOK at all the options (but ignore them for now, you can play later)
Under Search Criteria type in the MLS number of this property: 4306104
NOW this is COOL..... Click on the actual address above the picture 1470 Chamirey Dr
NOW...drum roll.... Love love love this... Usual stuff so far but wait, there’s more... Now, click on the tab “Area Sales”... Okay now HOW COOL IS THAT – List versus Sales Price etc???
From this we can see that this subdivision – called Wilmington has had 3 other recent sales... $116,900, $115,000 and $72,000 within 6 months...(oooooh, guess which one of these was a cash buyer, quick, quick!), so how would you feel with that news if you bid 60 - 66k cash and won!? Heck lowball and bid 50k.... You never know (might get RSI but what is the worst that could happen – they say no?)
BUT WAIT, there’s more..... What if you have NEVER been to Atlanta and want to know what your tenant would look like – who would they be, what would they earn.....? Go back to the tab labelled “Community Information” and knock your socks off...60% owned – incredibly low vacancy for Atlanta (under 10)... But yes, even the weather risks – SERIOUSLY!?! For those who love to research this is just amazing.....demographic data like that normally has to be paid for!
LOVE IT.
Happy hunting everyone....
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