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Old 11-25-2010, 01:39 PM
 
34 posts, read 129,147 times
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What are your opinions on buying at 1010 midtown? Prices are reasonable but the building is only 40% occupied I believe. (I'm thinking this is due to high prices in a bad economy). however the area is great and the amenities are nice so I'm thinking it would be a good investment. advice?? Thanks! Anyone live there now and can speak of how their experience has been?
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Old 04-25-2012, 02:45 PM
 
Location: 30328
425 posts, read 1,756,207 times
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lol, i see everything but the number of bedrooms and sq footage. Anyway, this would be a terrible idea as an investment at 40% occupancy rate. And out of that 40%, how many are owner occupied? I would wait to see what happens first (turn to rental units, subsidized housing, etc).
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Old 04-25-2012, 03:16 PM
 
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Atlanta has a HUGE condo inventory at the moment. Something like 7-8 years or more at current sales levels, so I wouldn't count on it being at or near capacity any time soon.
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Old 04-25-2012, 05:15 PM
 
9,008 posts, read 14,066,118 times
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I liked 1010.

They have a wide variety of floorplans, none of those stupid Novare 3/4 walls, and the location is perfect.

I think the biggest problem is it doesn't seem to have significantly larger common amenities than buildings a fraction of its size, so I bet the pool, gym, etc. get a lot of wear and are crowded a lot.

1010 is also an enormous development with plenty of room to grow. So just when things stabilize and your investment starts to look good, that's when they'll start developing more of the property and drive your value down again.
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Old 04-25-2012, 07:25 PM
 
2,685 posts, read 6,050,016 times
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Would be interesting to hear from a few realtors on here as I've heard lately that the condo inventory isn't so high and more buyers are out there.

Quote:
Originally Posted by red92s View Post
Atlanta has a HUGE condo inventory at the moment. Something like 7-8 years or more at current sales levels, so I wouldn't count on it being at or near capacity any time soon.
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