Updated almost 6 years ago on . Most recent reply
Best way to move forward
I'm going to be a new investor I've decided that I want my focused niche in buy and hold.
I've done my research and I would like to use the BRRRR method or creative finance (since I have an excellent credit score). I'm young so time is on my side, but I have a full-time job as an engineer so I lack the ability to go and do wholesaling. I also recently got a new job in Huntsville so most of my focus and in the new job to make sure I can keep it. Does anyone have any options on how to further define my path forward and how to get up and quicker?
I've been searching in my market that is red hot right now, I'm trying to get my analysis practice down but I'm not liking how the numbers are looking.
I look forward to this discussion thank you in advance BP members.
Most Popular Reply
@Samuel Smith I would recommend researching states with similar growth and observe the housing market from when population counts started to increase. You can google something like "(Denver, San Diego, Seattle, etc.) population growth" and it should provide you with counts from 2010 - Present. You'll be able to see when housing prices started appreciating, and where they're at currently. You can then find a census that aggregates the average home price over time and compare the correlating data points (Zillow is one source that provides that information). This will give you a an idea of Huntsville's potential market growth.
So while others may shy away from new construction because they don't know what's going to happen, you can approach your situation with relevant data to make an informed decision. Remember, Huntsville, Alabama is far from the only city/state to experience expansion on such a scale.
At the end of the day, regardless of your findings, what @Joe Villeneuve said is correct. Either the numbers will work, or they won't. It's up to you to determine your risk appetite.