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Old 01-28-2010, 12:37 PM
 
744 posts, read 1,844,465 times
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Yeah gold and other precious commodities would be a better investment. Using the 10 year time frame back in 2000 gold was hovering between 260-300USD/ounce for the year. I'm watching CNBC right now and gold at the moment is trading 1086USD/ounce...you do the math. You don't have to physically buy gold bullion, bars/coins, you can invest in gold ETFs. But if you are hell bent on real estate good rule of thumb is go for the ugliest looking house in the best neighborhood. Also if you can try to get into commercial real estate, strip malls, apartments, small office buildings etc. risk is spread out as suppose to relying on one tenant that can bail on you in a single family home.
Wisemage, to your post I'm sure you could find a 1bd/1bth condo in midtown for around 100K, a foreclosure probably, but there are still deals out there. Do a quick FMLS search in the zips you want maybe 30308,30309.
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Old 01-28-2010, 01:43 PM
 
2,683 posts, read 5,317,475 times
Reputation: 940
Seems this thread has gone off topic from what the OP was asking. Generally those that like investment real estate know the added work and like holding that type of investment. There is more to it then just appreciation. You also factor in tax benefits, mortgage paydown etc. Many are in it for the long term so the prospect of paying off the mortgage and having a paid for piece of real estate is attractive.

Regarding gold: There is always a lot of hype but consider the long term perspective.


"After hitting $847 an ounce in January 1980, gold futures fell for almost 20 years, grinding down to $253 in August 1999, a 70% drop. Gold remained dull until 2001. Prices have more than tripled since then, but didn't exceed the 1980 record until this year. The precious metal has been a horrible hedge against inflation. To keep pace with inflation going back to 1980, gold futures would need to be above $2,228 today."
According to one online calculator, had you put $10,000 into the Dow Jones at that same time, you'd have roughly $148,273+ today. The same $10,000 invested in gold, despite the inflation we've experienced, is now flat, worth roughly $10,950 today. To add insult to injury, gold is taxed as a collectible, meaning that you're going to get hit for up to 35% or more for the gains on it, versus the long-term capital gains tax rate of only 15%. That's a huge difference.


Despite Near Tripling, Historical Gold Record Remains Terrible
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Old 01-28-2010, 01:48 PM
 
Location: St Simons Island, GA
23,125 posts, read 36,372,059 times
Reputation: 15465
Quote:
Originally Posted by noah View Post
Seems this thread has gone off topic from what the OP was asking. Generally those that like investment real estate know the added work and like holding that type of investment. There is more to it then just appreciation. You also factor in tax benefits, mortgage paydown etc. Many are in it for the long term so the prospect of paying off the mortgage and having a paid for piece of real estate is attractive.

Regarding gold: There is always a lot of hype but consider the long term perspective.


"After hitting $847 an ounce in January 1980, gold futures fell for almost 20 years, grinding down to $253 in August 1999, a 70% drop. Gold remained dull until 2001. Prices have more than tripled since then, but didn't exceed the 1980 record until this year. The precious metal has been a horrible hedge against inflation. To keep pace with inflation going back to 1980, gold futures would need to be above $2,228 today."
According to one online calculator, had you put $10,000 into the Dow Jones at that same time, you'd have roughly $148,273+ today. The same $10,000 invested in gold, despite the inflation we've experienced, is now flat, worth roughly $10,950 today. To add insult to injury, gold is taxed as a collectible, meaning that you're going to get hit for up to 35% or more for the gains on it, versus the long-term capital gains tax rate of only 15%. That's a huge difference.


Despite Near Tripling, Historical Gold Record Remains Terrible
Good post, Noah, and you're right, we are O/T.
If the OP is determined to invest 100K in Atlanta RE, I would look at some of the intown neighborhoods in SW Atlanta ie Westview and Sylvan Hills. I think there are some opportunities there.
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Old 01-28-2010, 02:08 PM
 
1,498 posts, read 2,677,612 times
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If you are going to go with intown Atlanta, check out Reynoldstown or Edgewood. The East Side is a lot further along than SW Atlanta.

I would also check out the area of Dekalb County that is Doraville and Unincorporated, inside 285, and above 85. The GM Redevelopment is really going to change Doraville (In case you are unfamiliar with this, read http://atlanta.bizjournals.com/atlan...5/daily70.html). You could probably find a house just inside the perimeter for 100k. This area has pressure on it from all sides to redevelop, as it is the last "seedy" area in between 75 and 85, especially since Chamblee is so expensive now.



Another idea could be Scottdale. I dont know much about it, only that is surrounded by Tucker, North Druid Hills, Decatur, and Avondale Estates, which are all nice areas, and it is inside the perimeter. Seems like it is only a matter of time for this area to revitalize.
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Old 02-02-2010, 10:41 AM
 
6 posts, read 13,089 times
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What do you guys think about buying a vacant lot in Grant Park area?
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Old 02-02-2010, 10:56 AM
 
2,683 posts, read 5,317,475 times
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Most real estate investors want income producing property but if thats not important to you and you want to sit on some land for 10 years go for it. Just remember you will be paying taxes each year, could be some liability issues and there won't be any income from the property to pay the taxes with.

Quote:
Originally Posted by wisemage View Post
What do you guys think about buying a vacant lot in Grant Park area?
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Old 02-02-2010, 11:08 AM
 
9,124 posts, read 33,300,535 times
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Quote:
Originally Posted by wisemage View Post
What do you guys think about buying a vacant lot in Grant Park area?
Over time it might appreciate, but in the meantime you'll have a property that's not bringing in any cash, is costing you $$ every year for taxes, and will require maintenance and upkeep. In addition to mowing and weeding, you'll also have to constantly be policing the lot to make sure it doesn't turn into the neighborhood garbage dump, and you'll be paying to get rid of all the trash that does get dumped there when you're not watching.
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Old 02-11-2010, 11:15 AM
 
Location: Westview, Atlanta
55 posts, read 216,158 times
Reputation: 26
Quote:
Originally Posted by LovinDecatur View Post
If the OP is determined to invest 100K in Atlanta RE, I would look at some of the intown neighborhoods in SW Atlanta ie Westview and Sylvan Hills. I think there are some opportunities there.
Thanks for the Westview shout-out, but Westview would really benefit from owner-occupants rather than another investor. As a homeowner in Westview who spends a good 18 hours a month doing work on behalf of the community I'm not very appreciative of investors who like to smooch off of my hard work. Investors have a tendency of halting progress rather than contributing to the further improvement of a neighborhood. There are very FEW exceptions to this investor rule, but there are a couple out there that have done top-notch improvements to help rebuild the houses in this neighborhood.
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Old 02-11-2010, 03:21 PM
 
1,224 posts, read 3,630,106 times
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100K (or less) - 150K should get you a good rental property in Athens, GA. Other than students, I think that there is a reasonable-sized rental community in Athens.
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Old 02-12-2010, 08:52 AM
 
Location: St Simons Island, GA
23,125 posts, read 36,372,059 times
Reputation: 15465
Quote:
Originally Posted by westviewbungalow View Post
Thanks for the Westview shout-out, but Westview would really benefit from owner-occupants rather than another investor. As a homeowner in Westview who spends a good 18 hours a month doing work on behalf of the community I'm not very appreciative of investors who like to smooch off of my hard work. Investors have a tendency of halting progress rather than contributing to the further improvement of a neighborhood. There are very FEW exceptions to this investor rule, but there are a couple out there that have done top-notch improvements to help rebuild the houses in this neighborhood.
Very good point, Westview.
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