Montgomery Rental Market
Hi Folks
A buddy of mine did pretty well investing in rental properties last year in Montgomery. I can definitely see why, employment driven predominantly by Government/Education, low property values, low taxes, and good rental rates - you can definitely achieve the 1% rule. I would also point out that investors tend to focus on other markets a little more (Kansas City, Cincinnati, etc.) which should make picking properties relatively easier.
I've been looking at 36109 and 36117 zip codes, but it seems that there's bifurcation within the zip codes (i.e. Forest Hills vs. Pecan Grove, etc.). I'm looking to connect with individuals here, but also keep a discussion here on Montgomery as everyone is really interested in Hicksville.
Strategy: I'm really focused on maximizing the returns of each property. I can get to $300 of cash after expenses (mortgage/interest, taxes, insurance, and property manager fee) - this can lead to 10-15% cap rates. But I recognize that you need to factor in capex, property up-keep, and vacancy. Is the math faulty?