Investor · Brentwood, TN · Member since 2014 · 28 posts · 5 votes
Hi Everyone,
I'm an investor from the Nashville TN area, since Nashville is way overpriced in the multifamily market right now l am thinking of possible investing in the Huntsville Al area which is approximately 100 mile from where I live so its close enough to drive to.
I am interested in buying multifamily Properties or a large enough portfolio of single family homes to support having a property management company oversee them.
Since I am not all that familiar with this market I am seeking advice and information on what areas would be good to invest in.
I see Madison and Decatur are close by too and wonder if they would be better than Huntsville itself.
i am not from the area and do not know much about it, but just wanted to comment on a statement you just made. any property you own can support a PM running it, if its one property or 300, as long as when you run your numbers you include that figure in your expenses ( and you always should, even if you are managing the property, your time is money ). just thought i would throw my 2 cents in, even if its worth a penny.
i am not from the area and do not know much about it, but just wanted to comment on a statement you just made. any property you own can support a PM running it, if its one property or 300, as long as when you run your numbers you include that figure in your expenses ( and you always should, even if you are managing the property, your time is money ). just thought i would throw my 2 cents in, even if its worth a penny.
You are right, l have always managed my own Properties and since Huntsville is about 100 mile away I definitely would need a management company to oversee them.
I wonder if you have a larger portfolio say 30 plus units as opposed to just a couple of units if you have a better chance of getting a quality property management company.
I do not believe that, you need to interview a couple and pick one that you feel best represents you and your interests. i would try and look for one that has maybe lived there all their lives or for a long time and knows the area well. i think someone with 30 units will get more preference from someone than one when it comes to getting them rented ( the PM will make more money ) but you should get the same service if you pick the right one for you.
I know their is a lot to learn in the real estate business. This is what makes Biggerpockets such a great place for all levels of investors to come to.
Property management companies in HSV that I have heard great things about are Rosenblum and Hamlett. I interviewed both and have had recommendations for both. Look into those.
Robert check out NARPM, Irem.org or the local landlord association for property managers in the area. When its a reputable company as Patrick stated you will receive good service no matter the amount of units.