I'm considering three potential SFH properties in Montgomery AL. As I'm located in the Seattle, WA area, I would love to get some local insights into the areas these properties are located in.
1 - 3bed/2bath on Rosedale Dr. near Biltmore Ave (36107). From what I can tell this appears to be in the transition zone between a lower income area to the west and a better area to the east. What kind of area would Rosedale Dr be considered? Would $1000/month for a newly remodeled 1700 sq ft 3bed/2bath be realistic for this area?
2 - 3bed/2bath on N. Georgetown Dr near Hillman St. (36109). This looks like a better area than the Rosedale property. Any concerns I should know of around here?
3 - 3bed/2bath on Biscayne Dr near Queensburry Dr. (36116). Looks like a solid blue collar area. Any concerns I should know of around here? Would this area be considered better/worse/the same as the Rosedale Dr. property? Would $950/month for a newly remodeled 1500 sq ft 3bed/2bath be realistic for this area?
Thanks in advance!
I'm from Seattle and also looking at investing in this same area. Are you going thru a turn-key provider to find these properties or another method? Would love to connect to swap notes.
I've found these properties through a turn-key provider (ROI Turn-Key Properties) which I was connected with through Norada. Would be happy to connect and share notes.
No way to get those kind of rents in 36107 or 36109. 36116 is a B area, some C. I have been in Montgomery for 30 years. Let me know if you have any more questions. I can probably answer them. I could even ride by and take a look when I am in the area. In the 36116 area, one street may be fine, but the next street could be all crack houses. Some of the 36116 will be C or D areas within a few years.
Thanks for your response @Greg Parker . I would love to get your take on 36109 as that's the area I've been starting to focusing in on. Are there any areas to avoid or general concerns around 36109?
I am also considering a turn-key property through ROI. I would love to compare notes. Thanks @Greg Parker for the local insight.
Hello those on this forum. I have also contacted ROI. They gave me a list of properties that they have in inventory right now and the rents they expected to get for them. I have been doing some research with Zillow, Rent O Meter, and the Bureau of Labor Statistics. Maybe I'm off base here but I'm finding properties in the exact same neighborhoods that are at cheaper prices. Places that seem to be fully remodeled with hard wood floors, etc. My question to @Greg Parker is do you think Montgomery is worth looking at for a rental investment?
@Carol Kotchek , that's very interesting. I am currently looking at a couple of their properties in the Huntsville area and I was unable to find comparables for sale there at a lower price. I have bought several turn-keys in the past and have been happy with my returns (none from ROI yet) but I am just wondering if we are getting to a point in the cycle where turnkey isn't making sense. Their margins are getting squeezed and maybe we're better off just buying from the MLS. What do you guys think?
@Daniel Mills I don't know. I'm making an effort to research Montgomery. I contacted @Greg Parker as he seems like a good resource. The nice thing about turn key is it's all set up. And they have the property management. I think that's worth paying some premium for but not overpaying. Are you still researching buying from ROI? I'd like to know how that goes. And I am also interested in Huntsville. If I get really interested in Huntsville and Montgomery I'll take a trip out to Alabama.
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