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Old 07-07-2017, 08:57 AM
 
64 posts, read 68,924 times
Reputation: 152

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I'm a native Savannahian living in the NE, looking to purchase single or multi family homes in Savannah for rental properties near the Historic District.

I'm wondering what areas that are in transition that might offer good value. Factors I'm considering housing quality, demographics, desirability of area, neighborhood feel, proximity to downtown, crime, etc. I'm seeing some good deals in Metropolitan, Thomas Square, Victorian District, Baldwin Park, Cuyler-Brownsille.

Any thoughts, pros/cons of these areas? Any feedback is appreciated.

Last edited by UptwnRsdnt; 07-07-2017 at 09:12 AM..
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Old 07-07-2017, 09:22 AM
 
Location: Coastal Georgia
50,374 posts, read 63,977,343 times
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Just be aware that the full time residents are on the warpath regarding short term rentals right now (and I don't blame them). They have had enough of losing their neighborhoods to rowdy, uninvested tourists, so there will be caps on the number of permits that will be granted.
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Old 07-07-2017, 09:45 AM
 
7,126 posts, read 11,706,316 times
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Where did OP say "short term"?
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Old 07-07-2017, 10:47 AM
 
Location: Savannah
2,099 posts, read 2,276,681 times
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Right on, pink. Investors are good, fix up places to rent to in town residents. Good investors, that is.
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Old 07-07-2017, 03:00 PM
 
450 posts, read 462,141 times
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How long has it been since you were done and visited? There are a ton of areas that were a little rough that are transitioning to good neighborhoods. I like where the Bull Street corridor from Henry to Victory is starting to see homes being redone. The Starland district is great for the area.
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Old 07-07-2017, 04:00 PM
 
7,126 posts, read 11,706,316 times
Reputation: 2599
Quote:
Originally Posted by UptwnRsdnt View Post
I'm a native Savannahian living in the NE, looking to purchase single or multi family homes in Savannah for rental properties near the Historic District.

I'm wondering what areas that are in transition that might offer good value. Factors I'm considering housing quality, demographics, desirability of area, neighborhood feel, proximity to downtown, crime, etc. I'm seeing some good deals in Metropolitan, Thomas Square, Victorian District, Baldwin Park, Cuyler-Brownsille.

Any thoughts, pros/cons of these areas? Any feedback is appreciated.
What strikes you as a "good deal"?
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Old 07-07-2017, 05:18 PM
 
64 posts, read 68,924 times
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Thanks for the replies so far! I am not looking for vacation rentals. I visit twice a year and have family in Savannah. While I appreciate the tourism industry and what it has done, I can see why Savannahians are fed up with downtown being overrun with tourists vs residents.

I'm trying trying to determine what "good deals" are because my norm for prices in NYC. However, I've just been looking at purchase prices, comparing with rental prices in the same area and seeing if there is opportunities for cash flow. I've seen a good amount of homes in the mid 100s to mid 200s in the areas mentioned above.

Thanks for the tips on the Bull Street corridor.
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Old 07-07-2017, 07:20 PM
 
Location: Savannah GA
13,709 posts, read 21,924,564 times
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Quote:
Originally Posted by pink caddy View Post
Where did OP say "short term"?
He didn't, but I had the exact same thought as Gentle and would have issues the same warning if she hadn't beaten me to it.
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Old 07-08-2017, 06:18 AM
 
7,126 posts, read 11,706,316 times
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How much capital do you plan on putting in? Not borrowed money but your money. One can't answer your questions, especially about cash flow, without knowing that part of the equation. I think?
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Old 07-10-2017, 05:33 AM
 
64 posts, read 68,924 times
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I would just be putting in the down payment (20%) for a home or two in the price range above (or lower). I'm a beginner in buying rentals, but wanted to consider Savannah since my family is there. I'm just looking for general feedback about the areas listed, or any other recommendations. Thank you.
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