When real estate investors choose rentals and professional property management in Atlanta Georgia, they love their results! Investing in this market is a smart way to build passive real estate income and grow a portfolio—whether you live in the U.S. or invest here from anywhere in the world.
Getting "some" real estate investment income often encourages property owners to want more. However, building a successful portfolio is about more than merely buying additional rental houses in Atlanta Georgia, and hoping they generate the same returns as your first investments in this market.
Successful investors know that growing a real estate portfolio requires market insights, experience, and the best local help! Here's how a property manager like Compass Property Management helps local, long-distance, and international investors maximize income from a more extensive collection of properties.
We Know What Renters Want
A house that renters don't want sits empty while you lose money. Just because a home is high-quality or a place you would like to live doesn't mean it meets renter needs in Atlanta Georgia.
Building a profitable real estate investment portfolio requires properties that meet market demand and provide safe, quality homes for the best local renters. To accomplish that, investors must know what renters want and how to make it happen (while generating a profit).
When investors don't live in the area, it's challenging to know what renters look for in a home and how to make sure your properties are renter-friendly. Renters look for rental houses in Atlanta Georgia, that:
- Are in excellent locations with high walkability and access to retail, restaurants, recreation, highways, and transportation
- Provide safety with the right features, like outdoor lighting, Wi-Fi video doorbells, and plenty of secure locks
- Make it easy to work-from-home as-needed
- Highly-rated schools
- Up-to-date kitchen and bathroom fixtures
- New appliances
- Energy-efficient features
- Plenty of storage and parking
Finding new properties that accommodate these needs can be difficult without the right local experts to guide your search. However, not every potential rental property comes ready-to-rent with these in-demand features.
Choosing the Right Renovations
When choosing a property, it's critical to look at the potential and start with an excellent location. Then, adding the right renovations makes your rentals competitive in the market. Smart upgrades also help investors set the ideal rental rate to recover renovation costs and generate profit.
Without the right expert insights, investors can overspend on upgrades or add amenities that renters don't want (and won't pay for). Over-rehabbing a property can be an expensive mistake if investors can't recover renovation costs or find renters to pay the monthly rent that's too high for the Atlanta Georgia, market.
Whether you're a local or an international investor, minimizing the risk of choosing the wrong property or upgrades is crucial to your success! A property manager helps you make the best choices for each new property in your portfolio—even if what renters want in a home doesn't match your personal preference.
We Have the Research You Need
Before purchasing a property or considering upgrades, investors need to run the numbers and analyze a potential new property. If the numbers don't add up to more income, it's not the right fit for your portfolio.
There's no need to settle for a property that won't boost your income. Investors also don't need to grab anything available simply to make sure they have more properties than any other rental property owner in the area.
Your success depends on choosing the best rental houses in Atlanta Georgia that are the right fit for your long-term financial goals! A property manager helps investors with the research and analysis to make smart choices about new investments—before losing money on a bad property that will never make any money.
Work with a property manager to conduct rental market analysis that includes:
- Reviewing comps for similar rental properties
- Understanding market trends and current rental prices
- Estimating the potential monthly rent amount and comparing it to estimated property costs
- Factoring renovation costs into the start-up costs to determine a property's potential profitability
If you can't charge enough rent to cover the purchase price, renovation costs, and ongoing property expenses—with enough left over to count as profit—it might be best not to move forward with a property.
We're Here to Help You Grow!
Owning more rental houses in Atlanta Georgia should mean more rental income for local or international investors. However, without the best local experience and research to support your next property purchase, building a real estate portfolio can be a money-losing endeavor.
Let the experts of Compass Property Management help you find and manage your next properties! Our experience helps investors make smart choices when growing a portfolio for success. Learn more about the property management experience you need with a free copy of our "Guide to Finding the Best Metro Atlanta Property Management Company."