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Updated almost 2 years ago on . Most recent reply

User Stats

36
Posts
18
Votes
Aaron Kawamoto
  • Rental Property Investor
  • Mililani, HI
18
Votes |
36
Posts

Huntsville AL Questions?

Aaron Kawamoto
  • Rental Property Investor
  • Mililani, HI
Posted

Hi BP, my name is Aaron Kawamoto, I'm a real estate investor from Mililani, Hawaii. I recently completed a cash out re-fi, and I'm looking to invest some capital OOS (SFR/MFR). I'm very interested in Huntsville for its stable job opportunities (Red Stone Arsenal, FBI HQ, etc.) and reasonable (*compared to Hawaii) home prices. I understand the Huntsville market is hot right now, so buying a SFR/MFR off the MLS probably will not meet the 1% rule, but would like some sort of cashflow ($200 after expenses if possible). Few questions for any HSV locals or investors out there:

1. Is it possible to get approx. $200 cashflow off the MLS after expenses (including property management and umbrella policy)?

2. What areas of Madison County would you invest in for SFR/MFR (duplex-quad) knowing what you know now?

3.  Do you have any other lessons learned you care to share with a newer investor?  

Look forward to hearing any responses.  Have a great day!

Most Popular Reply

User Stats

128
Posts
35
Votes
Asa Ifill
  • Real Estate Agent
  • Huntsville, AL
35
Votes |
128
Posts
Asa Ifill
  • Real Estate Agent
  • Huntsville, AL
Replied

What's going on @Aaron Kawamoto! I will live in Hawaii one day! Congrats on completing your cash-out refi! Now it's time to purchase another property. I am an investor/realtor in the Huntsville, Alabama area. You are 100% correct on the job growth coming to our city. Facebook data center, FBI coming to the Redstone Arsenal and Amazon just put out their statement of adding a fulfillment center to the Madison area - this will bring 500 more jobs!! 

Yes, the Huntsville market is hot. But that doesn't mean there isn't any deals to be made on the MLS. I've seen several properties go within the last month that could potentially hit your 1% rule while gaining some sort of return.

QUESTIONS TO YOUR ANSWERS:

1. Yes, you just have to keep looking, it will not jump out at you.

2. Knowing what I know now, I would probably purchase property in the same area I did a year ago. I purchased a triplex in Toney, AL about 1-15 mins away from Huntsville and 5 mins away from the new Facebook data center! Toney, Harvest, Athens, Meridianville, Hazel Green and lastly, Decatur. These would be some markets I focus on for the next year or so since the Madison/Huntsville area is growing in price and forcing people to move outward into the areas I mentioned above. 

3. Some lessons I will share with you is to network, network, network. Find a good pair of boots on the ground here in the Huntsville area and gain a connection with them. They will be your best bet of purchasing a home in the area since you are OOS.

Good luck and I hope to connect with you soon!

Thanks,

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