im looking to invest in real estate in a growing city in georgia, does anyone know of some developing cities down there?
2006-08-12 09:20:20 · 6 answers · asked by Anastasia BeaverHausen 2 in Business & Finance ➔ Renting & Real Estate
Sounds like you are a first time investor. If that is the case, I recommend that you invest close to where you live. There are deals to be had in any location. It is your job to ferret one out that is closeby so you can keep an eye on it. As you become more sophisticated as the years wear on, you can feel more comfortable investing in properties that are not so close to home.
Keep in mind that investing in a "hot area" does not guarantee that you will be successful. In some ways it is more dangerous for a new investor since the competition is so fierce and what goes up always comes down. I think it is better to invest in average/stable areas.
Good luck with your investment.
2006-08-15 22:22:17 · answer #1 · answered by exbuilder 7 · 9⤊ 0⤋
You should invest in an area close to where you reside. There are good deals to be had in any area. Just because an area has been deemed hot, who deemed the area hot and for how long will that area be hot and for what is it hot for? Commercial, hotels, condo's, duplexes, single family homes, apartments so as you can see what is hot and what does it mean.
If you are a small of beginning investor I would consider buying lots and putting up duplexes or four plexes for sale or rentals. The reason for that is because they are considered as a single family home as far as lenders are concerned, therefore easy to sell and finance. Sell 3 and save 1 for rental and tax write off.
You can also buy 1-2 bedroom houses and add another bath and bedroom to make a profit.
You can also purchase foreclosures, fix them up for re-sell, or other distressed properties such as probates,marshal's sales.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2006-08-16 07:15:18 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
Gwinnett County is growing fast. It has the Mall of Georgia and everything is developing around that. The mall is one of the biggest malls in the South region of the US. Good luck on investing!
2006-08-14 16:41:23 · answer #3 · answered by Voice of reason 2 · 0⤊ 0⤋
Why not go for RE-development, like in Atlanta? 30310 is a rough area that is slowly coming back no?
2006-08-12 16:26:47 · answer #4 · answered by lazydave 1 · 0⤊ 0⤋
Suwanee in Forsythe County...it's really coming along nicely!
2006-08-12 16:25:55 · answer #5 · answered by O'Shea 5 · 0⤊ 0⤋
http://www.creonline.com/real-estate-clubs/ga.html
2006-08-12 16:27:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋