Looking for 100k properties

56 Replies

@Robert Perez Alabama has a pretty strong rental market with cheap houses. I’ve recently expanded my wholesaling business there in addition to Nashville (which does not have 100k houses). Tuscaloosa and Birmingham cash flow well, and Huntsville is appreciating with new jobs and the expansion of the NASA hub there.

I agree with @Will Clark , Birmingham has a ton of housing in that price range. I've had good luck there with buy and hold at this price point, there are many very nice neighborhoods where you don't need to spend much over $100k.

Kansas City, Oklahoma, Nebraska, Tennessee are some I've heard of that would fit that. I'm local in Kansas City. There is C-B properties for 80K-120K. Low vacancies here too. 

Originally posted by @Will Clark :

@Robert Perez Alabama has a pretty strong rental market with cheap houses. I’ve recently expanded my wholesaling business there in addition to Nashville (which does not have 100k houses). Tuscaloosa and Birmingham cash flow well, and Huntsville is appreciating with new jobs and the expansion of the NASA hub there.

Will, do you wholesale any commercial multifamily, specifically 8-20 units?

 

@Robert Perez

This resource I put together may help: Link to Home Values by City Spreadsheet

You will want to investigate the cities showing median home values at 100k or less. 

Essentially this will yield the cities that have the largest inventory of homes around this price point. 

The properties at 100k will also likely be located in C (on an A to F scale) neighborhoods since D/F properties will be in the mid to low five figures in these areas with median values at 100k.

 

@Robert Perez Kansas City is a great market for properties in this price range. We focus on B class neighborhoods in the $100K-$120K range in the suburbs of Independence, Raytown, S. Kansas City and Grandview. 

Originally posted by @Will Clark :

@Robert Perez Alabama has a pretty strong rental market with cheap houses. I’ve recently expanded my wholesaling business there in addition to Nashville (which does not have 100k houses). Tuscaloosa and Birmingham cash flow well, and Huntsville is appreciating with new jobs and the expansion of the NASA hub there.

You are correct! Huntsville is about to BOOM within the next 5-10 years. 

Will, do you have any properties in Huntsville or near it that you are looking to wholesale? 

I thought you were looking to buy 100,000 (Quantity) properties. I was like “damn that’s a goal”


I have 2 and am close to putting 10 Tiwnhomes under contract. Maybe one day I’ll have “100k” properties :-)

Originally posted by @Asa Ifill :
Originally posted by @Will Clark:

@Robert Perez Alabama has a pretty strong rental market with cheap houses. I’ve recently expanded my wholesaling business there in addition to Nashville (which does not have 100k houses). Tuscaloosa and Birmingham cash flow well, and Huntsville is appreciating with new jobs and the expansion of the NASA hub there.

You are correct! Huntsville is about to BOOM within the next 5-10 years. 

Will, do you have any properties in Huntsville or near it that you are looking to wholesale? 

I am hitting Tuscaloosa hard right now, the rental market there is really inticing. Most everything hits even the 2% rule, and vacancies are very low with multiple colleges in the city.

 

Originally posted by @Neetu Nagi :

@Will Clark buying in Huntsville what are the important things you suggest we should look into or keep in mind

 I am just breaking into the market myself, but right now I am playing it safe and focusing mainly on houses near the NASA center and other large job suppliers because those always sell and rent well. I wouldn't be opposed to investing in some of the "rougher" neighborhoods though, because in 10 years those will likely be the hottest spots.

Not so much the purchase price but also look into the rents. 
many homes that sell for 75 k get 

600-700 rent . That’s ok but not great . 
you can buy better quality homes and 

get same rate of return . Look for 

higher rents , like 2 % of PP.