Buying Investment Property in Forest Park Clayton County (Atlanta, Lawrenceville: real estate, rentals) - Georgia (GA) - City-Data Forum

Fulton_devon · 10-27-2009, 05:57 PM

I am considering buying property for investment rental in the Forest Park area of Clayton County, my real estate agent advises me that the area is fine for rental , however having read the blogs about Clayton County , the crime and the school accreditation issues , I am wondering if should not look at another county. I am thinking the rental rate may be low due the issues in Clayton County

I looked at Cobb County Austell but was put off by th recent flooding. I do not live in Georgia , but I also own property in Union City Fulton County that I use for vacation. Let me get some feedback on my prospective purchase

Carolinagal1995 · 10-31-2009, 12:05 PM

Run, don't walk away from Clayton County. As a person that invests in real estate full time for a living, I can tell you that I would consider Clayton County a high risk. If the schools are bad you will have a hard time renting out the properties. Right now rental vacancies are up and it is hard to find good tenants. Even if you rent to someone that does not care about the schools, they are more than likely the wrong element. Also, bad schools cause areas to go down in general and increases in crime are usually a result. Very few people are going to want to rent in a high crime area.

Fulton_devon · 10-31-2009, 08:26 PM

Thanks, I am really not sure about which area to invest in , I also considered Cobb county , but with all the flooding I saw in the news especially in Austell I didnt want to venture in that area. What areas would you recommend , is the Stone Mountain /Lithonia area of Decatur any good ?. I had limited my search to Fulton , Cobb Decatur and Clayton.

My realtor seems to think that property in Forest Park , off Governors Drive is good and should be fine for rental , but I am really now a lot more concerned based on what you have said and I am aware of the issues with the school district and the mass transit ( CTran). Let me me know your thoughts onwhat areas /county's you would suggest.

Thanks a lot

rcsteiner · 11-01-2009, 07:39 PM

Quote:

Originally Posted by Fulton_devon

Thanks, I am really not sure about which area to invest in , I also considered Cobb county , but with all the flooding I saw in the news especially in Austell I didnt want to venture in that area. What areas would you recommend , is the Stone Mountain /Lithonia area of Decatur any good ?. I had limited my search to Fulton , Cobb Decatur and Clayton.

It seems strange to me that you'd discount an entire county (or even a city like Austell) based on a one-time rain event.

The flood plains are fairly well documented (and if they weren't then, they sure are now after what occurred), and the extreme rain that hit west of Austell which caused the flooding was a 500-year event ... 16" of rain in a single day is completely unheard of in the state of Georgia, and would probably cause issues almost anywhere near a creek or other drainage area.

Of course, you do want to make sure that any property you get involved with is free from flood damage and not normally susceptible to such, but that is true of the entire metro.

Fulton_devon · 11-01-2009, 08:03 PM

The thing is I do not live in Georgia and was only referring to what I saw in the news , the property I looked at in Cobb was in the Austell area and I just didnt want to get into anything that would have had water damage. I am so confused by what I am reading here on the blogs as sometimes you read one person completely writing off an area and then someone esle says the exact opposite. I understand that it comes to either direct knowledge(living there) or perceptions based what you have heard. The one issue I have is that no one seems to be defending Forrest Park or the entire Clayton county. I have not been to Forrest Park , but I have been to Fairvew in a sub-division called the The Greens , it was nice there , but the HOA had restrictions on renting so i didnt take that unit.

rcsteiner · 11-02-2009, 03:01 PM

Quote:

Originally Posted by Fulton_devon

The thing is I do not live in Georgia and was only referring to what I saw in the news , the property I looked at in Cobb was in the Austell area and I just didnt want to get into anything that would have had water damage.

I would recommend hiring a property inspector ... regardless of the area ... before becoming financially involved in ANY property.

A good inspector will be able to identify most cases of water damage as well as any other issues which might make a property structurally unsound or otherwise physically questionable, making stuff like "flood damage" largely a nonissue. Flood plain information is also available online.

Cobb County is an area which contains several different cities, dozens if not scores of subdivisions, and almost 700,000 people. That's a lot of area, and a lot of houses.

It's also one of the best-run counties in the state, in my opinion, and contains some of the best schools as well.

Clayton County has some very real issues with the way its local government and schools have been run recently, which is why you see very few people defending it. There's no way I would buy a house there, but I would purchase again in Cobb in a heartbeat.

DeaconJ · 11-02-2009, 04:13 PM

Quote:

Originally Posted by rcsteiner

I would recommend hiring a property inspector ... regardless of the area ... before becoming financially involved in ANY property.

A good inspector will be able to identify most cases of water damage as well as any other issues which might make a property structurally unsound or otherwise physically questionable, making stuff like "flood damage" largely a nonissue. Flood plain information is also available online.

Cobb County is an area which contains several different cities, dozens if not scores of subdivisions, and almost 700,000 people. That's a lot of area, and a lot of houses.

It's also one of the best-run counties in the state, in my opinion, and contains some of the best schools as well.

Clayton County has some very real issues with the way its local government and schools have been run recently, which is why you see very few people defending it. There's no way I would buy a house there, but I would purchase again in Cobb in a heartbeat.

You might say that the only way Clayton County can go is up.

I would think houses in Clayton may be much less expensive than in Cobb; therefore, a riskier but more lucrative investment.

Fulton_devon · 11-02-2009, 05:27 PM

Thanks for all the advice , I have decided not to look at Clayton County and will revisit Cobb , Dekalb and Fulton counties .

Katrina Loughlean · 12-22-2009, 10:27 AM

Hi,I posted this before, but had not realized that you had to be registered, so will try again. I thank you very much for your comments here. Had been looking to buy a lot on Screamer, or somewhere in the Clayton region, because I do so love the countryside there, but now have decided that I really do not want to be within the region. I will now "Run", (not walk) away from the Clayton area. Thank you again!~Katrina~

byrd813 · 12-27-2009, 04:45 PM

Being a Realtor in the Metro Atlanta area, I agree with the rest. Clayton county wouldn't be a good choice for your business. I currently reside in Gwinnett County, and the schools here are pretty decent. Rentals are more popular in the Norcross area, along with some parts of Duluth, and some parts of Lawrenceville. Dont know if you're looking for the city or suburbs, but these area are suburban.