Newcomer looking to learn and invest

19 Replies

Hello everyone,

I'm a recent arrival to the great state of Alabama. I'm coming from Texas and I'm here because of work. I work as an Information Systems Security Officer on Maxwell-Gunter AFB and I would like to learn about the area and connect with local like-minded investors.

I currently only own one house back in Texas, but I'd really like to get into multifamily here.

Please feel free to reach out and let me know if there are local events I can attend to network and learn. Thank you!

Hey Jonathan,

Welcome to Alabama! We have a local REI club meeting the third Tues of the month at Exit Realty on Dexter St right downtown. We meet at 6:00 for about an hour and a half. Look forward to meeting you there sometime.

I actually live in Prattville, though I try to make most of the meetings. Good place to network. I found several resources there to use in the first rehab I just finished this week!

Andrew Howell

Welcome to Alabama, we are slow from Texas and now in Huntsville AL. For appx 15 years. We are investors in Alabama and Nationwide, realtor and own an appraisal firm. What areas are you looking in?

@Jonathan Acosta-Torres Welcome to BP! and Welcome to Alabama! Have you decided Alabama or Auburn yet? You've got to pick one ;)

This is a  great state for investing. Good luck to you!

Rob Drum, Real Estate Agent in AL (#112849)
205-253-8756

(Auburn) @Jonathan Acosta-Torres , (Auburn), I agree with @Rob Drum(Auburn)  You need to pick a team (Auburn) to fit in to the (Auburn) culture in (Auburn) Alabama!  Whichever you choose (Auburn), is up to you, though. (Auburn)

Welcome to (Auburn) Alabama!  I'm originally from Auburn, myself, in case you couldn't tell.  (Auburn)  I still have 3 (Auburn) properties there.  (Auburn)

Good luck with your (Auburn) endeavors, wherever you choose to invest!  (Auburn)  lol

Were my (Auburn) messages subliminal enough?  ;-)

Hey Jonathan, I could probably answer any questions you have.  I have been working in some form of the Real Estate industry in Montgomery for 30 years. 

@Jonathan Acosta-Torres

Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
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Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
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Wishing you the best!

Dmitriy Fomichenko, Broker
(949) 228-9393
Originally posted by @Andrew Howell :

Hey Jonathan,

Welcome to Alabama! We have a local REI club meeting the third Tues of the month at Exit Realty on Dexter St right downtown. We meet at 6:00 for about an hour and a half. Look forward to meeting you there sometime.

I actually live in Prattville, though I try to make most of the meetings. Good place to network. I found several resources there to use in the first rehab I just finished this week!

Andrew Howell

 Andrew, thank you for that information, I'll definitely stop by one of those meetings soon!

Originally posted by @James Jay :

Welcome to Alabama, we are slow from Texas and now in Huntsville AL. For appx 15 years. We are investors in Alabama and Nationwide, realtor and own an appraisal firm. What areas are you looking in?

 James, I'm brand new here so I am not yet familiar with what places are good to invest in real estate yet. Prattville kind of caught my eye already though.

Originally posted by @Rob Drum :

@Jonathan Acosta-Torres Welcome to BP! and Welcome to Alabama! Have you decided Alabama or Auburn yet? You've got to pick one ;)

This is a  great state for investing. Good luck to you!

 Rob, everyone keeps asking me which one I'm for and I have no idea yet. I need a little time to learn about both and make my choice haha

Why's Alabama good for real estate? (not doubting it is, I just want to hear your reasoning).

Originally posted by @Zachary C. :

Welcome to Bama @Jonathan Acosta-Torres. You're definitely in a good area for investing, like the others have said. Feel free to reach out anytime and especially if you end up in the Huntsville area.

Best,

Zac

 Zac, Thank you, I appreciate the warm welcome. I'd like to hear your reasoning for why Alabama is great for real estate.

Originally posted by @Jody Schnurrenberger :

(Auburn) @Jonathan Acosta-Torres, (Auburn), I agree with @Rob Drum(Auburn)  You need to pick a team (Auburn) to fit in to the (Auburn) culture in (Auburn) Alabama!  Whichever you choose (Auburn), is up to you, though. (Auburn)

Welcome to (Auburn) Alabama!  I'm originally from Auburn, myself, in case you couldn't tell.  (Auburn)  I still have 3 (Auburn) properties there.  (Auburn)

Good luck with your (Auburn) endeavors, wherever you choose to invest!  (Auburn)  lol

Were my (Auburn) messages subliminal enough?  ;-)

 Jody, hahaha very subtle. I'm sure I'll pick one soon, just need a little time. Thank you for the warm welcome!

Originally posted by @Greg Parker :

Hey Jonathan, I could probably answer any questions you have.  I have been working in some form of the Real Estate industry in Montgomery for 30 years. 

 Greg, Wow! 30 years! I promise you I will definitely be reaching out to you for information. I'm looking into buying multifamily property. Would you say the prospects are good that I'll find some good multifamily properties here?

Originally posted by @Dmitriy Fomichenko :

@Jonathan Acosta-Torres

Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

Wishing you the best!

 Dmitriy, Very nice of you to provide that information, thank you!

Yes.  But, as you know, location is everything.  In Montgomery, location is EVERYTHING!!!  I can start keeping my eyes open for something and let you know.  I guess you can look me up on my profile and e-mail me if you want to(I think my info is on there).  And, definitely let me know if you are looking at a particular area and I can tell you if it is good or not.  Plenty of duplexes in D areas, a few in C areas.  Very few in A or B neighborhoods. 

And, if you have a minute this weekend, you can stop by and check out the flip I am working on off of Bell Road.  I should be there all day Saturday and Sunday.

@Jonathan Acosta-Torres ,

Well, I can only speak to my area of Alabama specifically but I know some of the stuff carries over to other areas in the state as well. The cost of living is really good compared to most areas which means (to me) that it's a little easier to afford getting into REI. Here in Huntsville we have a really strong job market and economy. It helps that city planners have been on top of their game and are looking forward when it comes to developing the area. That has helped bring a lot of technology and medical based jobs to the area and also some good amenities like google fiber.

Hey Jody, I actually work for Auburn University. Keep me in the loop when you get ready to sell those properties. It is hard to find anything here that will cash flow since the prices are so high. Me and a friend are working on a deal now we found through an acquaintance that should leave about $600/month after all expenses, so we are excited about that. A couple of guys here at work are wanting to buy some income property but they are having a hard time finding anything unless it is waaaay off of campus. I have full access to MLS, so I can send you some comps when you get ready to sell.

@Greg Parker , thanks!  I'll do my best to keep you in mind when it goes on the market, but I have a brain injury from Iraq, so if you haven't heard from me by early March, give me a shout.  lol  I'm planning to put it up late Feb/early Mar.  :-)

@Jonathan Acosta-Torres

We've got low property taxes, low state income taxes, and great rent to value ratios!

Especially in Montgomery! It's such a great buyers market compared to BHAM.  Compare days on market, and contract price/list price ratios between Birmingham and Montgomery. It's WAY better for buyers! Montgomery DOM is like +40 and contract/list is like 15 pts lower. Also, there's a ton of foreclosure inventory in Montgomery.

Plus, the barbecue here is better than Texas ;)

Rob Drum, Real Estate Agent in AL (#112849)
205-253-8756

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