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If you are going to pretend for a moment that you weren't from Atlanta and you were looking
at the Atlanta market as a potential investor, what would you list as the pluses -- the reasons
to invest here? And what would you list as the weak spots or things to be made by fault?
Well the plus is just being the location of it. I mean, geographically, you look at it
on the map and it's a pretty central launching platform for different parts of the country,
in fact, parts of the world. Its diverse which also works to advantage. We have people from
all walks of life and cultures from all over the world.
It's a very integrated city.
It is very much and then you have people from all over the world. So I mean in the society
or culture when it blends together you can find something for anybody. There's so much
to do in Atlanta for whatever your interest is. If you like to go the lake, boating or
just staying outside of the city. That's more of nature and mountains or whatever place
that you can visit. So in terms of activities or lifestyle, I think it will be kind to anybody
from all over the world. The market continues to be stable in its current state. And Atlanta
is one of the projected cities that when the market does return, it's going to appreciate
more rapidly than the rest of the country. In Los Angeles, Chicago, New York; those are
challenging areas even Miami and they're all very pretty popular cities to live in and
they're just going to be more challenging to bounce back from. And so as a whole, I
think Atlanta is just going to be more solid as a place to live in and as a place to invest
because of all the amenities that are located here. In terms of challenges, I guess it's
kind of a tougher question. It could take longer for the market to rebound. That could
be a negative. If you're wanting to do a short term investment, you may not make it as much
short term as you would make long term. And that could just go far as the volatility of
the market coming back. Population, it's stable and that is we have 5.5 million people here
in Atlanta which creates a problem of traffic. Getting around town, Atlanta is the second
worst country in terms of traffic. It's been that way popular. Just getting around is difficult.
More in terms of selling or what are some other perspectives that you want to look in
to.
Well as a foreign investor, I sort of specifically what would kind of, you know, U.S. is a big
place. You're often laying out one city against another so that there are always pluses and
minuses.
Right. And, I mean, because that's going to apply to anyone who are above me. There are
so many things in Atlanta in terms of buying property that you have to be wary of. Like
you've got all you're going down the list that you go through, the tax brackets and
how you tax financially on a property when you buy it. If you're buying it and you're
just trying to head out yourself, I mean, it can be challenging. You have to have an
attorney. You need to be in corporate here. And that costs money to do that. Each property
can cost you a lot more if you don't know what you're doing. It can be costly.
Yep.
We've seen people buying externally from other countries internationally that have gone themselves
not understanding the tax brackets, the tax laws here, in Georgia specifically. But the
United States, they have been very expensive. That cost them money and has created some
real issues. So not understanding the market; not understanding the finances of the process
of buying a property from beginning to end and then when you go back and sell it, you're
just down the road. I mean, if you don't have someone that knows what we're doing, the experience,
and it can cost a lot of money.