The Rise of Johns Creek, Georgia | Real Estate, Life Style, and Restaurants

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panda

panda

Well-known member
This a investment home I am closing on June 28th, 2013. Most of the homes in this subdivision are 3bed / 2.5 1800 sq/ft and look a lot of the Portisol plan on Rising  Sun in Woodbury. The type of investment properties i look for 4 bed / 2.5 bath SFRs between 2000 - 2500 sq/ft which is my sweet spot. I target homes that are right under $200k in the high end neighborhoods with the top 1% school district of northern Atlanta.

School profile:
Elementary School ranked #2 in the state.
Middle School ranked #3 in the state.
High School rank #7 in the state.

I listed the home for rent on the MLS for July 1st, 2013 last Friday. I received 15 phone calls and 3 applications on Saturday.

I eliminated application 1 immediately and met with with applicant #2 yesterday who is young family with a 6 year old and a 2 year with credit score of 690 and good income. Yesterday they asked if i can lower the rent from $1650 to $1600 for a 2 year lease.

Applicant #3 is a recently divorced doctor with two teenagers ages: 14 and 18. Credit score came out at 813, income: more than what i make a year, with strong cash reserves. Applicant #3 offer two month security and offer the full $1650 for 2 year lease. 

Accepted applicant #3 today.

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Baby Panda, why are people with respectable incomes and great credit (like the doctor) renting brand new 4 bed SFRs that are dirt cheap? If they are so attainable why aren't they buying these homes themselves?

Congrats on the newest purchase, by the way. It is a beautiful house.
 
There is always a group of people who are in transition and aren't quite ready to settle in one place.  The guy just divorced got the kids, maybe he wants to keep his kids in the same school district till they graduate in two years then he plans to move to irvine.
 
qwerty said:
then he plans to move to irvine.
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HAHAHA!!

But hey - who says it's a "he"?!  :P I took it to mean the doctor is a she. More often than not, the mom gets the kids.
 
How do you plan to furnish the family room?
Where do you put the bed in Bedroom 2?
Where do you take a shower in Bedroom 4?
Love the triangular wedge over the pantry door.
 
SoCal said:
qwerty said:
then he plans to move to irvine.
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HAHAHA!!

But hey - who says it's a "he"?!  :P I took it to mean the doctor is a she. More often than not, the mom gets the kids.
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But most doctors are men. Well, the good ones at least :-)
 
I like the efficiency of the 2nd floor. They make up for the lack of a 1st floor extra living space (although the study can be used that way) by having a loft on the 2nd floor.

This would sell for $700k+ in Irvine and rent for what? $2700?
 
SoCal, the doctor is a she and is transitioning from a divorce and want to keep their teenage kids in the same high school. Man, I want to write a book once i find that my theories are real. In Johns Creek we have 3 Shady Canyons which are all private JC golf courses. Unfortunately these 3 Shady Canyons have the highest divorce rate compared to any subdivisions in Johns Creek. One of advantages I have is that i don't compete with Irvine apartments as there are no apartments in this 1997 Uni High school cluster. I concentrate investments on buying into the lowest price 4 bedroom SFRs subdivision into this this school disctrict.


One day I want to write a book on my real estate investment theories. $3 Million net worth, $200,000 passive income through strategic SFR investments in 7 years, You can do it too!

SoCal said:
Baby Panda, why are people with respectable incomes and great credit (like the doctor) renting brand new 4 bed SFRs that are dirt cheap? If they are so attainable why aren't they buying these homes themselves?

Congrats on the newest purchase, by the way. It is a beautiful house.
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Baby Irvine said:
One day I want to write a book on my real estate investment theories. $3 Million net worth, $200,000 passive income through strategic SFR investments in 7 years, You can do it too!
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But I can't stand the heat (even in the Inland Empire).
 
Baby Irvine said:
Did i mention that my annual salary is 3/4 of what she makes a year? Eat that too Qwerty! :)

SoCal said:
"the doctor is a she"

Eat that, Qwerty!  :P
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wait, is that supposed to make me feel bad? or make you feel bad that she makes more than you?  :)

qwerter probably makes more than most female doctors, not sure about male doctors though.
 
Baby Irvine said:
One day I want to write a book on my real estate investment theories. $3 Million net worth, $200,000 passive income through strategic SFR investments in 7 years, You can do it too!
Click to expand...
Put me down to purchase an autographed copy, please.
 
Socal, I did a lot of soul searching last year. Sort of like that movie.. "Zoolander" "Who am I?" "What am i supposed to do with my life?"

I know some guys buying $50,000 homes in the war zones, rehabbing them and flipping them. This was an investing niche that i was never really interested in. Also I realized very quickly that being a buyer's agent really sucks. Did i ever tell you this story about a Korean couple in their 7 series BMW from New York called me to show them some country club homes in Johns Creek? After 3 homes, I smelled that these guys were taking me out for a ride so i dropped them off at the club house and just drove off. They had to walk almost a mile to get back to their cars. hahaha!  :)

I like the listing side of country club homes. Now, that side of being an broker/agent really interests me.     

SoCal said:
Baby Irvine said:
Unfortunately these 3 Shady Canyons have the highest divorce rate
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Don't you mean "fortunately"?  ;) Your investment strategy is complete with a local breeding ground for the future "perfect tenants". What more could you ask for.
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Baby Irvine said:
One day I want to write a book on my real estate investment theories. $3 Million net worth, $200,000 passive income through strategic SFR investments in 7 years, You can do it too!
Click to expand...

Is that a mistype? You meant $30 million net worth?  :o $3 million is peanuts  :P
 
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