Thoughts on Alabama as an initial spot to invest?

[Natasha Rooney]

Hello! 

Anyone have any thoughts on Alabama as a potential market? 

I know it is landlord friendly, low tax rates, affordable... 

Any insight?

TIA

[AJ Exner]

Quote from @Natasha Rooney:

Quote from @AJ Exner:

Quote from @Natasha Rooney:

Quote from @AJ Exner:

Hey Natasha,

It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)

With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.

From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.

Good luck!

 Thanks for the insight! 

I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian) 

Thanks!! 

Do you have a credit score here in the US? Might have a few options for full leverage there, but if not, likely sitting at around 65% LTV on anything long-term/DSCR

 No credit score in the US! haha I know it puts me at a disadvantage but I think its still workable.

Disadvantage, but not impossible!