Investing in Montgomery, AL

17 Replies

Hello everyone, I just visited the Montgomery area and am interested in buying distressed properties, fixing them up, and renting them out. The properties I was looking at are in the 25-30K range, rehab cost would come to around 10-15K. Based of of research of the areas I am looking to buy, the rents are in the $725-775 range. I have met with broker who also provides property management services and who introduced me to contractors in the area so my question is has any else in here invested in the Montgomery market and if so what have your experiences been? V/R Wes

I have been buying, selling, renovating, and new construction in Montgomery for 28 years.  Let me know if you have a question about a specific area or specific property and I may be able to give some insight. 

@Greg Parker I am currently looking at two quadplexes in Gilmer Ct. They both need a little work but would be closer to properties fitting the 2% rule. I was curious if you had any insight into this area of Montgomery

I personally wouldn't touch them.  But, if you have a PM that can handle C- properties, you could probably get a good deal and some good cash flow.  Anything below Fairview Avenue and West of Cloverdale is rough.

I actually just purchased an SFR using AHF. Worked with Jennifer and Caroline. They are both great.

Originally posted by @Wesley Whitehead :

I actually just purchased an SFR using AHF. Worked with Jennifer and Caroline. They are both great.

Which house did you buy? I am curious to see if its one that I have on my list. I am a recent investor in the Montgomery area too. Best wishes.

We have been very successful in the Montgomery market - growing to nearly 30 properties in approximately 3 years.  We are selling some off so we can recapture some equity for a move into multifamily.  If you are interested in talking about Montgomery market just send me a message - we are definitely not exiting and plan to keep a number of properties.

Originally posted by @Peter Philando :
Originally posted by @Wesley Whitehead:

I actually just purchased an SFR using AHF. Worked with Jennifer and Caroline. They are both great.

Which house did you buy? I am curious to see if its one that I have on my list. I am a recent investor in the Montgomery area too. Best wishes.

Peter,

The address is 3723 Narrow Lane Rd.  Jennifer Bozeman from Alabama Home Finders manages the property and she has been great.  She has turned down several unqualified applicants that I wouldn't have thought the disqualify which is great learning lesson into what question one should be asking about prospective tenants.  Peter, please PM sometime as I will be moving to your neck of the woods this summer.  Would love to hear your experiences in Montgomery as well as potential places to live in SoFlo.

Originally posted by @Wesley Whitehead :
Originally posted by @Peter Philando:
Originally posted by @Wesley Whitehead:

I actually just purchased an SFR using AHF. Worked with Jennifer and Caroline. They are both great.

Which house did you buy? I am curious to see if its one that I have on my list. I am a recent investor in the Montgomery area too. Best wishes.

Peter,

The address is 3723 Narrow Lane Rd.  Jennifer Bozeman from Alabama Home Finders manages the property and she has been great.  She has turned down several unqualified applicants that I wouldn't have thought the disqualify which is great learning lesson into what question one should be asking about prospective tenants.  Peter, please PM sometime as I will be moving to your neck of the woods this summer.  Would love to hear your experiences in Montgomery as well as potential places to live in SoFlo.

Hi Wesley, just curious how your Montgomery rental is working out. I’m looking to buy there as well. We’re you able to get a good renter in there quickly?

Hi Wesley Whitehead, 

I am interested in investing in alabama and was hoping to pick your brain about your experience in investing in that area. Did you end up making money? Do you recommend it ? please let me know if you recommend that area and if not, why and where do you think is better. Thanks!