Atlanta home dilemma
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By: bobwings
So am I from the victims of Pacific Holdings. I bought a house in Riverdale, a suburb of Atlanta a year ago, got a few checks and then the company's troubles started.
I signed with a local management company and it turned out that the house was uninhabited and required minor renovations. I contacted a local contractor and did the renovation and now I am in a dilemma.
On the one hand, the situation in the area is good, very hot according to Zilo and the prices are constantly rising. The forecast for the coming year is 9% according to Zilo and I have also read on other American sites that the situation in the area is good because there is a positive flow of population and a thriving economy. On the other hand after all the troubles of the past year I do not so much want to mess with management companies, be under pressure from possible mishaps, tenants, etc. It occurred to me to try to sell the house immediately, even at the cost of some loss.
What would you do instead? Is it possible to be calm if a good local resident tenant manages the property?
It is important to note that at least according to Zilo this house has risen by 15% in the last year but since I bought expensive (consciously because I was convinced by Pacific) there is still a good chance of capital loss.
