New investor in Huntsville
I am a native of Huntsville, Alabama. I would like to start looking into investing into real estate. I have a great understand of Huntsville but don’t know where to start. For all my local investors I was wondering what to start looking into. Apartments, single family, or duplexes?? Or am I looking at the wrong investments. Anything will help. Thank you!
Tucker,
First, congrats on taking the plunge in real estate investing! I am also investing into real estate.
Since you are just getting started I would plan to read as much as you can about it and gain all of the knowledge you can, along with picking which market best first your skills/needs. I know several people who started getting into real estate investing by "Wholesaling" which is selling a contract of a property to a cash-buyer.
The single-family market in Huntsville is do-able in my opinion because there are several homes in the city that can be bought at the right price to cash-flow. The multi-family market (Duplex or higher) is a bit strenuous due to the high-price of these properties and how competitive the market is.
I like to focus on buy & hold properties to build my cash-flow and to gain passive income.
I also listened to the "BRRRR" audio-book by David Greene, he focuses on buy and hold properties as well. This book is a great start if you'd like to get into the buy & hold market, he basically talks about every step needed to obtain financial freedom with buy & hold properties.
Also, you can hit up the local REI meetings here in Huntsville. I know the Madison County Real Estate Investors Association meets every first Thursday of the month. This would be a great start for you to get familiar with people who are swimming in the same direction as you, if you know what I mean along with a great opportunity to network.
I love to talk about real estate and can do it all day. If you feel the need to ask any questions don't hesitate to shoot me a DM!
Good luck with your investing endeavors and I wish you the best!