Atlas awarded Pulaski Exchange development listing…

The developers of Athens most exciting new development have chosen Atlas Real Estate Advisors to represent them for sales of their project.  Pulaski Exchange (www.PulaskiExchange.com) is scheduled to break ground in 2017 and will feature over 20 commercial spaces including a market, offices and a restaurant in addition to 13 exclusive residential condominiums.  Just a few blocks from downtown, Pulaski Exchange is expected to be a one-of-a-kind destination designed on a pedestrian scale with unique architectural features and broad common areas.

Mixed-use project experience, along with an in-depth knowledge of the local market conditions, is what ultimately won Atlas REA the assignment.  “Interest has been strong already, and it’s still a few weeks from breaking ground.” said Matt Thomas, one of the principals of Atlas.  “The community is behind this development, and we’re very excited about being a part of such a thoughtful development that is unlike anything Athens has seen before.”

 

ADDA Board Chairman Chris Blackmon Quoted in Athens Banner Herald:

Click here for the full article about the search for a new executive director for the Athens Downtown Development Authority: http://onlineathens.com/local-news/2016-12-29/athens-downtown-board-set-interview-executive-director-candidates

Matt Thomas Featured in Athens Magazine Winter 2016 Edition

Athens Magazine recently ran a piece on Matt Thomas, one of the principal owners of Atlas Real Estate Advisors. To read the article in full, click here: “Heartfelt Care” article in Winter 2016 publication

Chris Blackmon quoted in Georgia Trend magazine

http://www.georgiatrend.com/October-2014/Athens–Clarke-County-Diversifying-An-Insulated-Economy/

New To Real Estate Investment?

The secret to building a successful real estate portfolio lies in an understanding of the fundamentals of real estate and remaining focused on buying only properties that meet those criteria. If you’re a new investor that’s just starting to consider real estate as an investment tool, below are a few tips to get you started:

Are You Financially Prepared?                      

It’s important that you have a firm grasp on your personal finances before investing in real estate. If you do not have adequate savings earmarked for investment real estate, do this first.  Real estate investing is not a “get rich quick” scheme –the most successful investors use real estate over time to build wealth.

What Kind of Property Should I Buy?

Real estate investing is an exciting field because of the many different niches and strategies you can use to customize your plan to fit your personality and position in life. There are literally hundreds of ways to invest in real estate, so find the strategy that best fits your lifestyle.

What are the Expenses Involved?

In addition to those expenses that are obvious (i.e. debt service, taxes, utilities, etc), many first-time real estate investors underestimate the unknown expenses.  As Dave Ramsey, the popular financial coach says: “you should expect the unexpected”.  Leave yourself some margin in your proforma for irregular expenses that might not appear on a profit & loss statement.

How do I Pay for the Property?

If you have the money, you can pay all cash and not deal with banks or loans.  Another option is to supply just the down payment and take out a mortgage to cover the remaining cost.  The terms of financing can be vital to your investments success and should be carefully considered.

Assembling a Real Estate Investment Team

Good property managers, accountants, legal advisors, etc will add value to your investment and should be seen as an asset to the process.

Conclusion

Atlas Real Estate Advisors is experienced with all facets of real estate investment, from single-unit purchases to portfolio management for institutions.  We would be happy to setup a consultation with you to help you develop your own personal investment strategy.

 

One Size Doesn’t Fit All

Over the past few years, we’ve all witnessed the meteoric rise of real estate, followed by an inevitable crash.  And, now the housing market is slowly recovering and trying to find a more stable middle-ground.

During the past 10+ years as an active real estate professional, one trend that I’ve observed is that real estate investors are active in both up and down cycles, regardless of whether housing in general is thriving or failing.  The buyers and sellers change, the pricing metrics change, the banks change their financing options, and the statistics on overall inventory will certainly adjust. But, investors never stop buying and selling.

Regardless of whether you’re an active real estate investor or just a spectator, you’ve undoubtedly heard someone in the past few years advertise a real estate listing as a “great investment”.  Phrases like “perfect for investors” and “what a steal” are commonly used by Realtors and owners to advertise their properties.  But, a closer look will tell you that one size doesn’t fit all in real estate investment, and these marketing slogans are often misleading.

Try this 5-question test to determine if you’re applying the property gauges on real estate as an investment:

1)  If a property that sold for $500,000 in 2007 is listed for sale at $150,000 today, is that a bargain price?

2) If the tax assessors office has a property valued at $300,000 and the seller offers it to you for $200,000, does that mean you have $100,000 instant-equity?

3) If you’re offered a property at $250,000, and a professional builder tells you the same property would cost $400,000 to rebuild, should you buy it rather than build it?

4) If a seller paid $100,000 for a property last week and has offered it to you for $300,000 today, does that mean it’s overpriced?

5) If your Realtor, appraiser, lender, attorney, “real estate friend”, etc advises you to buy a property, should you accept their advice?

If you answered “yes” to any of the questions above, you should reconsider your approach.  Sadly, most novice investors calculate value as the difference between what they buy a property for compared to the price the seller was asking, or the amount some third-party (i.e. tax assessor, Realtor, etc) says it’s worth.  These criteria should never be used solely as a reason for buying.  How much the seller paid for (or owes on) a property has no bearing on its value.  The same applies to how much it would cost to rebuild it, how much it sold for a few years ago or how much you think it will appreciate.

Real estate purchase decisions should be based on your personal financial situation.  If you need real estate in your portfolio for monthly cash-flow, your investment decisions will be very different than the person who buys real estate to offset their tax liability.  An investor who is investing their only $100,000 would approach an investment much differently than a billionaire investing $100,000.

Use caution when buying:  The property that’s a “great deal” for one person is not always a “great deal” for everyone as the headline on the flyer might say.