I am currently reading and attempting to implement the lessons in David Greene's book "Long Distance Real Estate Investing". I have struck out locally but feel confident I have built the skills needed to recognize and analyze a good deal. Thanks to "Set for Life", I am also in a good place financially to invest my hard earned money.
The Huntsville area appears to have steady growth, employment opportunities and generally favorable rent to home value ratios. Now I'm trying to find a trustworthy and reliable team starting with a good agent and property management company. Do you have any suggestions?
My goal is to find a purchase a 4-plex with a standard mortgage that will cash flow $100 / door.
Thanks for all the help and great advice as I continue this quest.
Huntsville is a small market. Even in Birmingham I was only able to find 3-4 good options.
@Gregory Schwartz I am an investor in the Huntsville market and it is a relatively small market however it does have a strong economy and is experiencing some growth. I know of some of a good agent and wholesalers in the market. DM me if you need their information. Best of luck!
Hey @Gregory Schwartz ! I've been investing long-distance in Huntsville for almost a year now and have a number of small multifamily properties there, all of which are cashflowing between $90-150 per door per month.
I completely agree that the team is crucial for long-distance investing. We have a broker we like okay, but the real cornerstone of our team in Huntsville is our property management team – Rocket City PM.
We've found Rocket City to be very responsive and to know the market incredibly well. The owner, Dennis Norton, is also a broker himself. Rocket City sometimes has off-market opportunities as well, when their other clients are looking to offload some properties.
I'd be happy to introduce you to Julie at Rocket City PM if you'd like. Just shoot me a direct message.
I appreciate all the advice.
@Annie Dickerson , I've heard some really good things about Rocket City.