Hello all! I am exploring Huntsville as a potential investment location. Where are the best places to invest in A- to B+ and C+ to B- SFRs properties? Looking for any insights that would prove valuable and/or a local agent who I can work with.
For what it's worth, Norada Investments boasts Huntsville as one of their hottest markets. They have some SFRs for sale on their site that are turnkey - newly renovated with tenants and management in place. You might wanna check them out. Let me know if you get anything out there because that's a market I'm considering investing in within the next year.
@Miles Presha — thanks for the mention. Inventory in Huntsville comes in waves. It’s not a lot but there are good investment properties to be had.
@Richard Olshove — Hi Richard. Most inventory there would be classified in the B neighborhood range. And not uncommon to find B+. I’d suggest taking advantage of a free strategy session with one of our Investment Counselors.
You're quite welcome. I've been binging on your podcast as well as a few of the other cashflow guys out there. Have been thoroughly enjoying them in my car rides around town. I'm in L.A. so my car is my 2nd home. I'll be closing on my house soon and will be walking into a ton of equity which I plan to use for investments.
One of my initial plans will be to reach out to you and your team to discuss some options in turnkey. Keep me on your radar......
@Marco Santarelli Would be happy to have a discussion. Who should I reach out to?
@Miles Presha -- Glad you're enjoying our podcast Miles. Smart idea to put that equity to work for you. Cash-flow is the foundation to a solid wealth plan. Feel free to to reach out anytime.
@Richard Olshove -- I just sent you a colleague request. I'll introduce you to an Investment Counselor via email.
Hope you had a nice weekend.
A - parts of Madison, downtown Huntsville, Five Points area, Hampton Cove
B - most of Madison, southeast Huntsville, Jones Valley,
C- research park, north of highway 72 around Jordan Lane, Athens/Limestone County (may move to B with Toyota/Mazda investment), Hartselle (small but growing), Harvest (along Highway 53)
D - north Huntsville (north of oakwood ave), Southwest Huntsville (Hood Road, Patton Road), Decatur, Michael Avenue in Madison
F - Triana
@Scott Anderson Thank you for the insight. This is extremely helpful. If I wanted to secure around $1k/mo in rent where would be the best place to purchase? IE best value, lowest cost but best neighborhood?
@Richard Olshove let me preface this with the fact that I'm not an investor in SFRs in Huntsville. I was born and raised there and that is where my rankings come from. I'm involved in real estate enough to know that sometimes it is difficult to invest when you have intimate knowledge of a place. I, personally, would not invest north of 565 and east of Jordan Lane but that is where you're likely to find properties that meet the 1% rule. In terms of decent rent/sale price ratio, I like the Parkway estates area near the intersection of Byrd Spring Road SW and S Memorial Parkway. You may also be able to find enticing deals in the square created by S Memorial Parkway, Mountain Gap Road, Hobbs Road, and Bailey Cove Road. The issue with the Huntsville market as an investor is that there are a ton of people in Huntsville that make $75-100k a year and real estate values are significantly lower than other metros. Due to that, the higher end apartment/house renters are generally going to buy a house rather than rent an apartment for $1,500 a month. Also, jobs here are extremely stable and (other than active military) people aren't as concerned with their job moving, which might stop them from buying.
Seeing quite a few small multis on the MLS in Huntsville for extended periods of time. Guessing these are in the scary parts of town, have issues or listing price is too high.
@Steve Weihe most of the multifamily stuff that has been on the market a while is located in rougher parts of town or is overpriced. I've looked at every multifamily on the MLS probably multiple times. If you want to PM me whatever you're looking at or have questions about I can give you my thoughts. I have no interest in buying anything currently on the MLS so no worries there.
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