Hello from North Alabama Restorations and Rentals - Investor

[email protected]240-266-0291

Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
1w
Happy to take a look and see how we can help !
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Diana KhanPro Member

Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 672 posts · 237 votes

1w

Quote from @Richard Neese:

Hey Everyone! Richard Neese here coming from North Alabama. Cullman/Morgan County to be exact. I'm a value add investor that has a construction crew to do renovations, a property management team to take care of our rentals, and more! We currently work in Morgan, Marshall, Cullman, Blount, Limestone and Lawrence counties (All north Alabama ). I'm looking to connect and grow and i hope to meet some people that we can help and become a small part of their success story while reaching our own goals. I currently have around 80 doors and growing in SFH MF and some light commercial, even a few self storage facilities to boot. I'm looking to meet wholesalers, deal finders, and other people trying to CleanUpTheirCommunities and HelpGoodPeopleGetToABetterPlace. I run a meet up twice a month in Vinemont Al called cash flow and coffee, where we discuss local real estate topics and how we can help each other do more! I've been thinking about branching out and hosting it live through an online platform so if your interested in learning more about that please let me know. Looking forward to connecting!!!

Welcome to BiggerPockets, @Richard Neese! It's great to see someone involved in so many areas of real estate, from renovations and property management to multifamily and self storage. I also like that you're bringing local investors together through your Cash Flow and Coffee meetups. Building those relationships can open up a lot of opportunities.

I'm a real estate attorney and investor based in Maryland, and I work with property owners, landlords, and investors on contracts, ownership, and other real estate matters. I've seen how important good relationships and clear agreements are as a real estate business grows.

I appreciate you sharing what you're building in North Alabama. Wishing you continued success, and I'm happy to stay connected here on BiggerPockets!

[email protected]484-791-6200

Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
4d
Thank you for the warm welcome. Let me know if i can help you in any way. I just got back from the BP conference in Orlando. Were you able to go this year? Next year in Denver should be fun too !
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Matthew MorrowBusiness Member

Investor · PA - NY - NJ · Member since 2019 · 904 posts · 318 votes

1w

@Richard Neese Cash Flow and Coffee is a great name. Running a meetup is one of the best things you can do in your market. It turns you into the person people bring deals and questions to. Having your own crew and management in-house across six counties is a serious operation, too. Hope we cross paths sometime.

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Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
4d
Thank you! We want to develop out a Real estate Investing community in our small town. I've got a great team that supports me and some good sub contractors that fill in. Not sure i'll be up your way soon but my market is pretty hot for out of state investors
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Robin SimonBusiness Member

Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes

6d

Welcome to BP! 80 doors with your own crew and PM team is a pretty solid setup, the in-house reno side has to make the value add numbers a lot easier to hit. Are you mostly holding the SFH and small MF long term after the rehab or do you flip some of them too?

[email protected]

Harpoon Capital515 Reviews

Richard NeesePro Member

OP

Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes

6d

I flipped about 20 last year of our 40 ish projects . We are looking at holding a lot higher percentage this year due to the market cooling. We are typically under 225k and more specifically 175-190k 3/1 3/2's. this works for our rental matrix. allows us to have multiple exit strategies .

[email protected]248-408-3855

Brad SeidBusiness Member

Lender · Licensed in 28 States · Member since 2026 · 200 posts · 67 votes

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@Richard Neese Welcome, Richard! Impressive portfolio and great to see what you're building in North Alabama! If you ever need financing for your next acquisition, renovation, or investment property, I'd be happy to help explore lending options. Feel free to reach out anytime. Looking forward to connecting!

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[email protected]941-914-7779

Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
4d
Thanks for reaching out Brad. I always need more lenders ! We currently use Lending one, cross country and Kiavi on the DSCR side and local banks in North Alabama. One challenge i have is we are in a tier 2/3 markets and a lot of people are somewhat hesitant. If thats not you then we can have a conversation ! As a well established buyer/flipper/landlord we are sensitive to terms because i quote it out but if you can compete then lets try to do some business together. Once again i appreciate you commenting on my post !
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Ashish AcharyaBusiness Member

CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes

4d

Richard, seeing that you’ve flipped roughly 20 of your 40 projects and are now shifting toward holding more makes the tax side even more interesting.

At that point, I’d really want to keep the active flipping business and the long-term rental portfolio clearly separated. The tax treatment, bookkeeping, and planning can be very different between property you’re buying to resell and property you’re holding for rental income and appreciation.

With your own construction crew and property management operation as well, I’d also make sure the costs are being tracked cleanly by project and property. That becomes increasingly important as you move from a handful of deals into a 75+ door portfolio.

If you're planning to hold a much larger percentage going forward, this could also be a good time to revisit the overall entity and tax structure rather than waiting until the portfolio gets even bigger.

Sounds like you’ve built a pretty impressive operation in North Alabama. Best of luck with the continued growth.

Feel free to DM me, I’d be happy to send over a few resources that might be helpful.

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Richard NeesePro Member

OP

Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes

Thanks for comment and great insight. We are currently and have been working through this process. I have multiple entities with a split between higher risk and lower risk assets. A construction company entity, property management entity and brokerage entity. We aren't perfect and area always looking for ways to improve. We recently ran into issues where banks weren't using our flip income in their underwrites so we've done exactly what you are talking about and starting breaking out Holding, flipping, construction etc... We definitely need to connect . I'm working on live streaming my "Cash Flow and Coffee" investor meet up i do. Maybe you can be a guest speaker for us at some point !

Cristopher McDonald

Investor · Richmond, VA · Member since 2026 · 7 posts · 2 votes

@Richard Neese welcome, and thanks for your service. Fellow veteran here (20+ years, retired), working toward my first small multifamily around Richmond, VA. Running your own construction crew and property management team is the part I'm curious about: at what portfolio size did bringing those in-house start to pay for itself?

Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
3d
We started building out a construction crew almost immediately. As I started taking down houses around COVID we struggled to get reliable subcontractors so i started looking for full time employees eventually apply for H2B visas for seasonal workers.
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Cristopher McDonald
Investor · Richmond, VA · Member since 2026 · 7 posts · 2 votes
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@Richard Neese that makes sense. Unreliable subs are what push a lot of people to build their own crew, and H-2B for the seasonal work is a smart way to staff it. One more question if you don’t mind: the 45 to 50% of gross you run on your multis, is that what you underwrite going in, or what the buildings actually ran once you owned them? I’m trying to work out how far to haircut a seller’s expense numbers on older buildings.
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Gregory AcsPro Member

Lender · MD · Member since 2025 · 249 posts · 94 votes

Welcome, Richard! Sounds like you've built a solid operation in North Alabama. With around 80 doors and ongoing value-add projects, I'm curious how you're approaching financing as you continue expanding. Are you mainly using cash, traditional loans, or portfolio financing?

Richard NeesePro Member
OP
Rental Property Investor · South Vinemont, AL · Member since 2026 · 39 posts · 12 votes
3d
Thanks for Reaching out Greg. I'm guessing you are familiar with Alabama. When i deployed to Iraq my Unit commander was a Warrant Office CW3 to be exact. We have a mix for our capital stack. understanding what works best in different situations has been a strength for us. It can be exhausting though. Relatioships with Private Lenders, local banks, using our own cash, Construction loans, DSCR lenders, Hard Money, and even Uncle Tony who really makes sure he gets paid. We are always looking for Solid partners though.
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Stevan Stojakovic

Financial Advisor · FL · Member since 2024 · 478 posts · 119 votes

Welcome, Richard! Hitting 80 doors across SFH, MF, and commercial while running in-house construction and PM is an incredible operation. North Alabama is seeing some fantastic momentum right now.

As you continue taking down those value-add projects, having the right capital partner for bridge and portfolio DSCR loans makes a massive difference in scaling without tapping out your liquidity. I'd love to connect.. Keep up the great work impacting the community!

Juan Hasbun

Lender · Fort Lauderdale, FL · Member since 2020 · 49 posts · 10 votes

1d

Welcome, Richard. It sounds like you've built an impressive operation and, more importantly, the infrastructure behind it.

A lot of investors can acquire properties. Far fewer have an in-house renovation team, property management, and systems in place to effectively manage 80+ doors across multiple asset types.

From a lender's perspective, investors who have construction and management capabilities under one roof tend to have a significant advantage because they have more control over timelines, budgets, and tenant retention.

I also like your focus on community improvement. The best projects aren't just good investments, they're properties that make neighborhoods better and create housing people are proud to live in.

The Cash Flow & Coffee meetup sounds like a great resource for newer and experienced investors alike. Building local relationships before you need a deal, contractor, or lender is something that pays dividends over time.

Wishing you continued success as you grow the portfolio. North Alabama has seen a lot of investor interest over the last few years, and it's always great to connect with operators who are focused on long-term value rather than just chasing transactions.

Looking forward to following your growth and seeing what you build next.