The problems in Atlanta and Oklahoma City

The problems in Atlanta and Oklahoma City

The problems in Atlanta and Oklahoma City

 

** Where not to invest **
I see a lot of people asking about one area or another as an investment destination.
This time I want to share two places I ** do not recommend **. It is worthwhile exercising my holdings in these areas, and recommending or not investing or exercising in others.
Note: I am sure many will disagree with me - but everyone and their experience (just add that I have been investing in the US for about 17 years and accompanying over 4500 purchases of rented checks in more than 25 US markets)

The areas in question: Oklahoma City and Atlanta

** What's the matter with Atlanta: **
In terms of market profile - there is space (size, country, location, business, etc.)
The problem with this area is ** the culture **. Saying: In all the years I have been working in the US there has not been a place where there are so many problems with tenants and suppliers. Tenants: Payment ethics, home maintenance ethics, breakdowns, communication and more. Vendors. . . Poor quality and reliability, poor communication, this word is not Mia and more.
For those who don't know it, it sounds normal. For those who only know Atlanta, that sounds normal. As one that invests in so many places our "noise" index from Atlanta was the strongest and much higher.
I don't think anyone who invests there makes a mistake, but only believes that better decisions can be made.
If you are active in Atlanta and everything is fine - blackmail.
If you do not share my opinion - for health.

** What's the matter with Oklahoma City **
On the face of it - no problem. Good place in the middle.
Still - after 14 years of sales and activity - the value of assets is slow and low, especially compared to other areas. Is it terrible? Not at all, is it likely that we can get more - yes (without vow or promise)
Second and lesser known problem - Assuming nothing has changed in the last + year, this country has a very, very strange law ** that less or less means that a foreign-owned (non-U.S. Poor) property must be sold within 5 years. Delusional and old law and I know of two cases where the state took assets. Is cause for concern that it will happen again - I guess not. But since I learned about this law, I either didn't refer to investments there, or worried about warning investors.
In my personal opinion, anyone who invests in this area does so from a ** kind of convenience ** or familiarity with the place and not from an analysis of the market.
Just saying that I had quite a few personal investments in Oak. City, I work there with a great team, I have friends there and I even like to visit there when it comes out, which means I really don't have anything personal against Oklahoma City. ** But I'm an investor first.
I don't think anyone who invests there makes a mistake, but only believes that better decisions can be made.
Hope I do not anger others (and if so, because I touch open sadness) and in any case I wish you success in any investment.



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Responses

  1. Atlanta and its suburbs (where most of us invest) is bigger than the entire state of Israel. So it doesn't give much to say "Atlanta". It might be useful, Danny, to specify a particular city/neighborhood that you have invested in, and it will help people here to learn from a negative experience. Beyond that, the team is the key word, have you tried the team in another city? Or in the same city with another team? Maybe the problem is with the team...

  2. Atlanta is a metropolis. It's like saying - Tel Aviv is problematic. In Tel Aviv there is Ramat Aviv, Tel Kabir, the Hatikva neighborhood, the old north, Neve Sha'anan, etc. And there are even Givatayim, Ramat Gan, Gassi Kacho in Holon and Bnei Brak. For an investor from abroad - all of these are Tel Aviv. Not to mention the satellite cities around Atlanta - which are part of the metropolis. There are problem areas in Atlanta, and there are excellent areas. I guess your experience is related to a particular area (or a few, certain areas), I would not necessarily project on the entire metropolis.

  3. I will add from my experience, in the last 4 years in Atlanta in the field of new construction and the improvement of the Atlanta market is excellent, easy sales compared to other markets since there is a lot of demand for houses, positive immigration, excellent weather and in general Atlanta is a strong and stable market, so I do not so agree with the generalization. But of course everyone has their own experiences.