what part of MidTown (Atlanta GA) to invest?

[gumboula]

As is the Bluff and Bankhead Highway. I suspect the OP would be hard-pressed to find a 60k foreclosure in Home Park. If so, probably a good investment. In the other areas 60k would probably be high for a foreclosure. But I don't see a $160k resale in a couple of years. Not a realtor or investor, but I know my poor neighborhoods pretty well.

[gumboula]

Originally Posted by maxinvest

yes, but I mean the rest of that area, is there any upcoming value over to the west?

Sorry, our posts passed in cyberspace. Maybe there is opportunity for investments in that area with the demolition of public housing and the beltline. But that's a long term investment, not one or two years.

[LoufromNewYork]

Max - if people truly knew where to recoup that kind of money that quickly - I'm not sure people would be itching to volunteer it until AFTER they finished so you could go in after them. It's the nature of the beast.

Sometimes, you gotta take a plunge; hope it was based on good information; and maximize whatever results you can.

[seyfun]

As someone who owns in that area and will be living there shortly, I'll throw my two cents worth in. There is simply no way I can see a $100K return in two years in the Center Hill / Grove Park / Bankhead area.

I think there are some tremendous opportunities out the Bankhead / Hollowell corrider. There are already signs of change at the intersection of Hollowell and Addie St with the new medical clinic going in and some of the lots being cleaned up. As the development on Marietta, West Marietta and Howell Mill spreads south, things will really take off. I just don't see it happening in a two-year span. Maybe in five years, not in two.

In dollar terms, I paid somewhere around the $60K mentioned previously. Add in around $95K for renovation and I have around $155K in the house. The appraised value post-renovation was estimated at $170K, which I think is actually high given the current environment. I would be thrilled to have an appraisal of $200K in two years, which falls well below the $100K mentioned. This is for a total renovation, new systems and multiple upgrades.

IMHO, this is an area where you buy and hold. The day of the quick flip is over for quite a while (again IMHO).