My Partner and I just got into contract on a 4 Plex in south Huntsville AL. It is our FIRST deal, and now we are getting to wonder if the huntsville market is a good market for buy and hold. When we put our offer in there was only one for 4Plex on the street for sale and now there is 4! Is there a reason all of sudden multiple units are now up for sale? Is Huntsville a stable enough market to keep our fourplex fully occupied? We are buying in an area where school ratings are a 10. It is only 10 min from RedStone Aresonal off the Bailey cove area. Please if anyone has investment properties or knowledge of the huntsville area and market, let us know if we are picking the right area or if we should go into a hotter market like houston or somewhere.
Thanks, Michael P
Just my opinion: When I think of the entire Huntsville area, I think of racial divides, issues with health care, and larger than average low-income families. I think real estate is relatively cheap and that makes me assume that rents and appreciation are low too but here are a few things I just learned about the city:
Right now, Houston is extremely competitive. I've been looking for a multi-family with a 10% cash-on-cash for about 6 months now with no luck. I also manage a mailing campaign and work with a few agents... If you know of anything, let me know, I'd partner up.
Best of luck,
Frank S., Houston
Thanks for the reply Frank! I didn't know that Boeing and the state is going to be investing more in the area which makes it seem stronger. I know what you mean in Houston, I have been working with a few agents there and its tough to find a 10%+ deal. I will definitely reach out to you if something great hits the radar!
The Huntsville area and market is very strong. The rental market in Huntsville and surrounding areas is also very strong. With that being said there are lots of areas that are not so great, as there is with any city. Without knowing the location of the property it's hard for me to say anymore than that.
Thanks @blakejarrett! Im flying there to check it out this week. Wish me luck!