Do you have Atlanta rental property investment strategies in mind, or are you just winging it and hoping for success?
Guesswork can only take you so far. To conquer the Atlanta real estate investing market and dominate it, you need to be savvier. Investors must know the pitfalls to avoid and which opportunities to take advantage of quickly. What are some of the best strategies you can count on to grow your real estate investment portfolio? Check out these four insights from our expert property management team that can help grow your investments successfully!
1. Research to Find Reliable Partners
Learning the Atlanta real estate market and finding reliable partners are the first steps toward success as a property owner.
Just like some properties look attractive at first glance—but the location and amenity factors may make them unpopular with tenants—not all people who want to help you succeed are the right partners for your investment business. Researching potential contractors, real estate agents, and property management companies are as important as analyzing potential investment properties before adding them to your portfolio.
You wouldn't trust an advertisement for a babysitter that's posted on the bulletin board at your local Starbucks without checking references and doing some research before leaving your kids with them. Make sure anyone who advertises their "expert" real estate investing help is who they say they are and are the right assets for your success!
The right partners can help you get funding in order, market your investment property in Atlanta, take care of day-to-day management, and handle all maintenance needs without blowing your budget. Choosing quality partners helps you protect investments and maximize returns while adding new Atlanta rentals to your portfolio!
2. Consider a Turnkey Investment Property
Almost every potential rental property needs at least some renovations before it's rental-ready. Depending on how fast you want to grow your portfolio, renovations can take time away from when you're able to start collecting rental income and building more wealth. Making property updates also requires the budget and Atlanta contractors to handle projects promptly and with quality work. If you choose a fixer-upper, you're in for a long road of repairs and costs before you're able to find a tenant and start making money.
Turnkey properties are different. They may be more expensive to purchase than fixer-uppers, but they are also move-in ready and don't require renovations before making money! In most cases, turnkey rentals already have a renter paying the rent. As soon as you close on the home, rental income transfers to for immediate cash flow.
These homes pay for themselves quickly and require little to no work before they add profit to a rental portfolio. With the right property management company handling the rental and residents, investors can grow more quickly, and experience returns sooner rather than later.
3. Join Real Estate Investor Groups
To dominate the Atlanta rental property market, you need to learn from the best. Look into real estate investment groups with a proven track record of success and consider joining groups that support your interests. These groups may include experts in real estate wholesaling, buy-and-hold, or house flipping. Then choose the investor groups whose business objectives are aligned with yours. Ensure you can meet the minimum financial requirements to be a part of these groups and that this financial commitment doesn't take away from the budget you set aside to invest in your current or future rental properties.
Be sure the groups you choose have a track record of success! If the ship goes down, your income goes down with it.
4. Work With Atlanta Property Management Experts
The more extensive your real estate investment portfolio is, the more time and energy you have to spend actively managing your properties. If you have a second job, live far away from your Atlanta rental property, or do not want the stress that comes with active property management, you need expert help to support your portfolio growth!
Partnering with full-service property management professionals is the best way to add more properties and maximize returns for every rental—without adding more work to your plate. You enjoy the passive investment income while your Atlanta property manager handles everything from tenant placement to collecting the rent and maintenance.
Grow Your Portfolio Successfully With Professional Property Managers
Renters Warehouse Atlanta has the knowledge and experience to support rental investors with an eye on growth! No matter how many properties you add to your portfolio, our property management team can effectively onboard each rental and apply our strategies for your success.
If you're looking for your next Atlanta investment property or your ready to turn over your existing portfolio to expert property managers, let's talk about how we can help!
For more information and building a successful portfolio, download our free resource, "Real Estate Investing: Grow Your Portfolio."