The Historic West End as an Investment Property (Atlanta: real estate, renters)

[hautemomma]

Is the Historic West End a viable area to purchase a property intended for a rental investment?

There appear to be some decent prices on attractive listings, and I would like to know more from local Atlanta-area residents about the area.

[Atlwarrior]

As a resident of Historic West End. Our neighborhood is trying to detour renters, rooming houses, and encourage home buying. We have updates each month on if rental properties are turned into rooming houses, etc.

[Listennow32]

If you look at the current development trends in the city of Atlanta I would say yes. Currently the eastern and western sides of the city are being built out and redeveloped.. however, once these areas have reached max capcity in terms of development, all eyes will shift to the south side. Furthermore, the area is in proximity to many different transit opportunities, including exisiting Marta rail and bus systems and the Beltline. IMO, I'd invest. The initial return on rents may be a little low, but if you hold on to the property for a while give it maybe 5-10 years, it will have become an excellent investment. Who know's development might shift to the southside of the city sooner than that.

[bryantm3]

if you are going to buy the property and maintain it, renting it out while being a responsible landlord, then yes. if you plan to buy it and be an absentee landlord, we've got thousands of those around atlanta and it's those types that make the neighbourhoods worse than they already are.

[jsvh]

Originally Posted by bryantm3

if you are going to buy the property and maintain it, renting it out while being a responsible landlord, then yes. if you plan to buy it and be an absentee landlord, we've got thousands of those around atlanta and it's those types that make the neighbourhoods worse than they already are.

Not to mention the city and neighborhoods have been cracking down on absentee landlords. So expect fines and even have your property condemned and taken if you are not keeping it up.

[lastminutemom]

Originally Posted by bryantm3

if you are going to buy the property and maintain it, renting it out while being a responsible landlord, then yes. if you plan to buy it and be an absentee landlord, we've got thousands of those around atlanta and it's those types that make the neighbourhoods worse than they already are.

Actually, the more renters a neighborhood has, the less appreciation it may see. Potential homeowners generally don't want to buy in a neighborhood that is majority renters, even if it is well maintained.

Clark Howard, a local consumer advocate and real estate investor, recommends buying rental property in places where there are very few to no rental homes. First, you will likely get a higher rent (supply vs demand) and second, the neighborhood will hold its value better.

I love the West End, but believe until the majority of homes are owned and maintained by those that live in them, appreciation will be slower than it could be.

[ehoez]

very bad ideal.