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10 Reasons to Invest in Chattanooga & Atlanta

1. Job and Income Growth

Job growth is listed first because it tends to lead in-terms of other qualifying factors for real estate investments.  For instance, it’s no secret that Detroit has been steadily losing jobs for the past 20 years. As such, their real estate market has been in a decline for the past two decades.

Opposite of Detroit is Chattanooga, North Georgia and Atlanta.

Chattanooga was the ranked 21 out of all the cities in America for the fastest job growth last year at 3.8%. Source

Atlanta also consistently has higher job growth that than the United States average.  See chart below.

Catoosa and Walker counties less data for job growth.  However, we know that major employers like Dunkin Donuts are adding a significant amount of jobs.  Additionally, the job growth in Catoosa and Walker counties will probably not make national headlines, but will be a lot faster than the national average simply because it has a lower population rate.

One of the negatives you might here investing along the I-75 corridor from Chattanooga to Atlanta is the lower income rates.  However, this means the real estate values are more affordable and there is more room for income growth. Anecdotally, it also means there is a large pool of tenants for rental property.

2. Affordable

As you can see from the table below, Chattanooga’s median price is significantly below the national average.  This coupled with the income growth of the area makes it a very affordable place to buy as an investment and to rent.  

As you can see in the chart above, rent growth is very strong in Georgia because of the favorable population growth.  Additionally, North Georgia is a great commuter area for Chattanooga and Atlanta. Catoosa county has a great school system and Walker county has a very low cost of living versus Chattanooga and Atlanta.  

3. Capital

Obviously a key factor for investing in real estate is capital.  The I-75 corridor between Chattanooga and Atlanta has a diverse banking mix between small private community banks to large banks like SunTrust which has its headquarters in Atlanta.  Lending in these markets has not materially slowed down due to the healthy economy in these markets.

4. Entrepreneurship

Georgia is a very pro-business state where it ranks number 10 in Growth Entrepreneurship by the Kauffman Foundation.  Also, Thumbtack gave the state an “A” rating for being friendly to small businesses.

5. Travel

Easy access to the whole world.  Hartsfield International Airport has connecting flights and direct flights to anywhere you want to go.  Additionally, the Blue Ridge mountains in North Georgia make a great weekend getaway.

6. Recreational Activities

I saved the best for last.  The outdoor scene is why I moved to this area and why I don’t even think about moving.  Despite living here almost 20 years, I have rarely gone on the same hike twice.

In 2015, Outside Magazine listed Chattanooga has the best outdoor town in the country.  

Source: https://www.outsideonline.com/2008956/why-chattanooga-best-town-ever

You can Chattanooga Riverwalk map below.

Please note, this map is outdated and the riverwalk now extends to the St. Elmo area of Chattanooga.  Also note, there are bikes to rent temporarily downtown you can take on the riverwalk.

Chattanooga has the riverwalk which wraps around downtown and is still being expanded.  Atlanta has the

7. Favorable Landlord Laws

According to RentersInsurance.com Georgia has one of the top landlord laws in the country.  In my experience, evictions are a lot faster in Georgia than other states.

8. Taxes

Georgia does have a moderate state income tax, but it also has great job growth and great school systems offsetting this expense.  

In general, property taxes in Georgia are relatively low. The median real estate tax payment in Georgia is $1,413 per year, about $800 less than the national average. The average effective property tax rate is 0.93%.

9. Weather

The average year-round temperature is 62.55 in Georgia.  So if you are looking to escape cold this is your place. This actually has investing implications because harsher colder climates tend to cause more maintenance problems on rental property.

10. Population Growth

For perspective, the United States for the last 3 years has had population growth of 0.8%.  However, the I-75 corridor including Chattanooga and Atlanta has had meaningfully higher population growth.  See data tables below.

Chattanooga, TN

Atlanta, GA

Summary

As you can see from the facts above, the area between Chattanooga and Atlanta is a great place to invest.  

If you would like to learn more about great turn-key rental properties for sale and off-market deals.  Fill out the form below.

5 Ways to Avoid Foreclosure

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Foreclosure is the action of repossessing a home if the owner fails to keep up with their mortgage payments. The reasons homeowners go into foreclosure is usually unpredictable, but can often result from being laid-off, the inability to handle mounting debt, divorce, or even transferring jobs to another state. When foreclosure happens, the owner not only loses their home, but they also would owe their lender more money, and it could seriously damage their credit. It’s safe to say that foreclosures are not fun, so here are 5 tips on how to avoid them.

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3 Ways to Lower Your Utility Bills

Whether you split the utility bills with your roommates, or you pay for them yourself, your electric, water, and gas bills have got to get paid! And we know what it’s like having all of those bills add up in the end. It can practically empty your wallet! Well we have got some good tips on ways you can reduce those utility bills and save some more money. (more…)

3 Ways to Prepare Your Investment Properties for Fall

 

 

 

 

 

 

 

 

 

 

 

 

 

Now that fall is upon us, it’s time to start thinking about ways to eliminate the last-minute rushing to prepare your investment properties before the cold months arrive. For the owners who manage their properties by themselves, take out your pen and paper to take notes because with these 3 tips, you’ll transition into the latter half of the year with ease!  (more…)

Are Millennials Destroying the Real Estate Market?!

Why is Buying a Home Not a Big Deal for Millennials?

Depending on who you ask, the Millennial Generation are people born in the early 1980s to the early 2000s. It’s the generation who came of age after The Great Recession. Although the housing market has recovered since the economic downturn of the late 2000s, Millennials are still living with repercussions that other generations didn’t experience in their youth.  (more…)

When is it Time to Upgrade Your HVAC?

These tips are ensured to help you save money and stay comfortable when it comes to replacing or repairing your HVAC.

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As a Rule of Thumb

Is your HVAC system more than 10 years old? Is your furnace, boiler, or AC running a lot, making you pay more than you should be in energy bills? It might be time to start considering your options when it comes to replacing it.  Now, don’t jump up right this second and make an expensive purchase.  (more…)

5 Signs a New Roof is Needed

How Can You Tell if a New Roof is Needed?

The roof of a home is an important thing that most homeowners might overlook without even thinking about it. How do you know if it’s time to make repairs to your roof? How do you know if it’s time to replace it all together?

Before you spend any money, determine if you need a new roof by asking yourself these important questions:  (more…)

How to Spot a BAD Property Manager

Is Your Property Manager Showing Any of These Traits?

The stress of managing your own rental property can get pretty intense, so when the time comes to find someone else to do the job, you might just jump at any opportunity without thinking too much about it. If being a successful property investor is a goal of yours, understand that you shouldn’t just pick any property management company, you need to employ a professional to manage your investment properties on your behalf.

In the article “9 Reasons to Hire a Property Management Company,” we discussed all of the reasons you should hire a property manager, but in the list below, we’ve compiled five red flags that a property manager might not be the professional they say they are.  (more…)

9 Reasons to Hire a Property Management Company

Why is Hiring a Property Management Company So Important?

Although managing a rental property can have a rewarding financial outcome, doing so requires a lot of time, effort, and hard work.  On paper, managing your own properties might seem more convenient. Considering the commute, constant maintenance calls, and countless hours as a landlord, you’ll find it is much more impractical.

You might find that you’re not even having time to do anything that you actually enjoy anymore. Hiring a property management company will take all of the workload off of your shoulders. It gives you the time to live your life while still making money. Here are some of the tasks that a property manager will handle for you:  (more…)