Skip to content
International Real Estate

User Stats

3
Posts
0
Votes
Anthony Cornett
  • Pike Road, AL
0
Votes |
3
Posts

Military Community Rental Investments

Anthony Cornett
  • Pike Road, AL
Posted Jul 17 2014, 21:13

Hello All.  I was directed to this site by the owner of a national real estate advertising firm that caters to military families.  What a great site--tons of information.  I will try to be brief but informative here.  I am looking to connect with investors interested in properties in a military rich area.  I am a native of Montgomery, AL.  I have been fortunate over the years to become friends with many Air Force personnel and their families who come through Montgomery for OTS and ACSC here at our base--Maxwell.  Montgomery has always been a great rental market because of these wonderful families.

But Montgomery has it's challenges.  Mainly a school system that is not up to par to say the least.  The only options for good education is to be fortunate enough to get into the public school's magnet program, rent or buy in neighboring cities like Prattville or Wetumpka (schools are better, but still have challenges themselves), or send their children to private school which costs $10k/yr or more per child.

In my opinion, there is a tremendous need for a community that caters to these families.  My assessment is that these families need a safe community, a good school system for their children that doesn't kill their budget (great public education options), and an area where they can connect and network with other military families.

I am not a builder, but I have self-built 4 houses of my own, 8 others helping friends, and a few as an investment to sell--all new construction.  I am well connected in the communities here and know most all of the reputable builders and sub-contractors.  I am just someone who understands the building and development process, sees a need and feels there is opportunity for good investment and a chance to provide these amenities for our military personnel.

I want to develop an area like this.  I want to market these homes to military families who want to invest in a rental property as well as private investors who are looking for rental properties that cater to these families.  Along with the community, there would be an on site management company to ensure that the properties are well cared for and maintained.  It would be turn-key.  The community would be about 100 - 125 homes and 8-12 models from which to choose.  Because of the volume of homes built, the purchase price of these homes would be at minimum 10% - 15% below current market values for similar homes in the area.  And as far as amenities to draw these wonderful families in, they are second to none in comparison to what is available in this area.

Being really new to marketing something like this, I really have 2 big questions:

1.  Is my assessment correct?  Is there value in this for you who are investors?

2.  If so, who would be interested in knowing more and/or be willing to help develop the concept, marketing, etc. 

I hope to hear from those of you who have experience.  I am far from being an expert and welcome any advise or direction given.

Loading replies...