Thoughts on Alabama as an initial spot to invest?
Member since 2024 · 50 posts · 36 votes
Hello!
Anyone have any thoughts on Alabama as a potential market?
I know it is landlord friendly, low tax rates, affordable...
Any insight?
TIA
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!
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!
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!!
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
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.
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!
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.
You can get financing for american properties through most of the big 5 banks in Canada. They use your Canadian credit score to qualify you. Last time I borrowed it was min 20% down, I went with RBC USA bank. They also charged a decent interest rate at the time (2011) which was 3%.
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.
You can get financing for american properties through most of the big 5 banks in Canada. They use your Canadian credit score to qualify you. Last time I borrowed it was min 20% down, I went with RBC USA bank. They also charged a decent interest rate at the time (2011) which was 3%.
Awesome, thanks!! I will look into that!