Buy a House Cheaper than a Car in Atlanta, GA!

This week I wrote a contract for $10,500 for a 2 bedroom 1 bath home. Of course it needed work, the investor had bids of roughly 15K to make the home livable. THINK ABOUT IT. For less than $30,000 - someone is going to be living in a 2 bedroom/1 bath home.

Yes, that's an incredible rental property that will have a positive cash flow of a few hundred dollars NET every month from day 1, never mind the land appreciation in the coming years. (The home is less than 1 mile from the Georgia Dome, CNN Center, Philips Arena, the Georgia Aquarium, Centennial Olympic Park and The World of Coca-Cola!) Tell me if you don't think a developer is eventually going to want a lovely little development to go up in an area with such a prime real estate location in the heart of Fulton County Atlanta, GA! In fact, there are numerous proposals that have been discussed about the Vine City area of Atlanta, it’s just a matter of time before someone takes action.

We currently have 3,120 active listings for Single-Family Homes for less than $50,000 in the GAMLS system!

For all of those people running scared from the stock market and trying to figure out where to invest - take a serious look at the Atlanta Foreclosure Market! People are amazed that you can actually buy homes for less than the price of the average American car, but it’s true. For 2008, the FMLS listing service shows 1,763 homes sold with a list price of below $30,000!

Investors are making wise decisions in developing investment portfolios, whether to acquire & hold for purely land appreciation, modestly rehabbing to create rental properties with immediate positive cash flow, or conducting full scale rehabs for immediate flips (only for the truly serious/experienced investor in the current market) – people are seizing the opportunity to gain financial freedom through real estate acquisition in Atlanta, GA. It wasn't that long ago that the same type of action was taking place in areas like Grant Park and Candler Park, and look at home values in those areas (both of which I service).

If you have questions or would like to discuss this topic further please feel free to call or email me. Happy house hunting!

All The Best,

Michael

Michael Neville & Associates

Keller Williams Realty Atlanta Midtown

www.LiveInAtlantaGA.com

404-310-8364

Mike@MichaelNeville.com