I'm moving to Alabama and I am investing in the area. I'm specifically looking to house hack a duplex/triplex/fourplex in the Enterprise/Dothan area and then branch out from there. For the past few months I've been in the education phase and will continue to do so, but it is time to move a step forward. In running deals through the calculators on BP I've begun to notice a few of the same realtors, some of the same types of housing, and areas of interest that I need some ground truth on. While I know there is plenty of opportunity in the Montgomery, Birmingham, and Mobile areas, I'm not there yet. I need a local base of operations first to learn the ropes and get the basics down.
Does anyone have any leads on investor friendly realtors in the Enterprise/Dothan and surrounding areas?
Contractors, insurance brokers, repairmen, property management, and lenders as well?
I start my cold-calling, cold-emailing next week, and would like to have something to crosscheck if possible.
I'll also be headed that way for the Thanksgiving break to put eyes where only Google maps has been to get a feel for the neighborhoods and folks in the area. I'd like to meet a few folks face to face if they are around during the holidays, but I know that may be a stretch. If there are in any investors in the area, I've got a free coffee and/or beer waiting for you if you have the time for a meet up.
@James Lloyd Welcome to Bama! It's a great place to invest! You're definitely right to start taking action. You'll be amazed how the people you need will show up, once you start moving forward. Good luck!
James I'm in Dothan. I'm an investor/developer. There are always deals to be found, but they are very difficult to uncover in this market... especially down here in the wiregrass area. find a good realtor in Enterprise and Dothan. Honestly, if you find one that understands RE investing they will probably take any good deals for themselves first. Just keep that in mind. It'll take several months or longer to build a network, and it will always evolve. Contractors are tough bc the market is good and there are not many tradesmen left in the world. Everything is expensive.
Right now I encourage all investors to sit on cash. You'll know when a good deal comes up. Banks are not motivated right now. They are happy to sit on REO and leave it vacant for a LONG time. Again, there are deals out there but hard to find and lots of investors hunting. Courthouse steps are filled and hardly any deals to be had there.
@Brent Smith thanks for the info, it sounds like tough times. I'm committed to figuring it all out, so it'll be a good challenge. I'm in the area now looking around and starting the relationship building. Multiple folks have already said the same things you have. Especially about the plethora of investors. Its a different environment than I'm used to for sure. Then again, I'm new at this and everything is different from what I'm used to. How did you find success down here among the challenges and do you have any recommendations for realtors? Or do you have a few minutes to spare some local knowledge over a coffee?
I’m only working on new development these days but always keep my ear to the ground for motivated sellers of existing property (residential and commercial) that can be renovated or even repurposed.
Stay in touch on here but if you’re in Dothan I’m happy to try and rendezvous over a hot drink.
Solid advice @Brent Smith I’m looking for B&H opportunities in Dothan as well. Travel there once a quarter for work. Hopeful we can meet soon.
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