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Old 11-13-2009, 08:52 PM
 
11 posts, read 28,641 times
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I am thinking of buying a condo in the Willowwick subdivision , is this a good investment area in Dekalb for rental and property value?
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Old 11-13-2009, 09:02 PM
 
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I don't know the specific subdivision but I would say no. I'd stick to good areas intown for condos. SFH investments would be ok as long as its in a good area. Just my opinion.

But more importantly I would first set what your goals are for the property. Do you want maximum cash flow and willing to deal with more headaches or a nicer property in a great area with less cashflow but less management hassle which attracts higher quality tenants.
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Old 11-13-2009, 09:26 PM
 
11 posts, read 28,641 times
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I understand but its a 4Bed 3.5 bath , cant find that kind of space in town easily. But I dont live in Georgia so thats why I am asking for some advice on the areas and rental prospects. I also worry about the amount of rental stock that is out there now , which could further push the rental rates down and I dont want to paying HOA dues for an extended period if it takes a long time to find a good tenant
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Old 11-13-2009, 09:40 PM
 
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In a rental condo I would not want to buy such a big place. Most people in the suburbs that want that a big a place will be looking for a SFH so you'll probably have a tough time renting it. Stick to 1 and 2 bedrooms or go to SFH's. Of course HOA dues, reserves and management is always a factor in a condo as well. There really are a lot of factors for you to consider. I take it you have found a very good deal but make sure you look at market rents and such to confirm if its a deal.
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Old 11-13-2009, 09:47 PM
 
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Thanks , the deal is good and you have also highlighted another possible issue as maybe my rental price point would be competing with SFR , mmm , now I am very undecided if I should proceed as there is so much housing stock on the market to choose from , you dont want to make an obvious mistake
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Old 12-06-2009, 02:04 PM
 
Location: Atlanta
6 posts, read 13,153 times
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Some places in lithonia are great for rental properties, if the numbers make sense go for it. However the willowick subdivision is not in the best condition. You can get a condo there right now for under $10K but will most likely have to put a lot of $$$ to get rent ready.
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Old 12-17-2009, 12:34 PM
 
11 posts, read 28,641 times
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Default Investing in Fultion County Condo

I did not buy the Willowick Unit as you were correct about the condition of the subdivison and with the rehab cost and the high HOA fees 253 Per month I passed on that one. I am looking in Union City at condo in Maple Valley Estates, it was built in 2005 and in almost new condition. Is that area any good
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Old 12-18-2009, 05:46 PM
 
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make sure the conds HOA allow rentals, some dont.
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Old 12-18-2009, 07:03 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,669,497 times
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No. A condo is a lousy investment.
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