If you are investing in Prichard, AL or thought about investing in Prichard... what is your strategy for ROI?
a. Do you own properties and collect decent rent?
b. Any creative rental strategies if so: residential rents, commercial rents such as rehabilitation hones, etc.
c. Flip ???
Also do you have issues with city officials during rehabbing, etc?
Prichard, AL has an extremely high crime rate, poor school districts and a ton of other problems. You most likely will be able to pick up properties super cheap (30k) there, but will be renting them out for 400-500$. Not many property managers want to manage those properties so if you do manage to find a property Mgmt co willing to manage that property they are probably not the property Mgmt you want to be doing business with because any smart reputable property mgr would already know the headache of dealing with these kinds of properties is not worth it.
Look to West Mobile or Semmes or across Mobile Bay in the Fairhope area.
Prichard is an buy and hold part of town. If you're not local, or playing with 30k plus you'll be better of buying in Mobile. However for local investors, rentals in PA are making money. Also it's election time and the people of Prichard are tired of the corruption and I believe a new local government will elected and may change some things around in a positive way.
@Cesar Nomito are there talks of other municipalities (cities) taking over Prichard completely, i.e Saraland or City of Mobile?
I haven't heard anything of that, from my understanding this upcoming election is supposed to be a changing of the guard in the Prichard leadership. The previous mayors stole all the money for the city and better representation is upcoming but that remains to be seen.