Hi Maria. We invest in huntsville and it has been great for us thus far. I'm not familiar with Montgomery's market. Huntsville has a healthy economy and is increasing in population. There are lots of strong employers in huntsville. Those are things I look for when analyzing markets. Feel free to reach out to me with any specific questions or for lender/realtor referrals.
Hi Maria. We invest in huntsville and it has been great for us thus far. I'm not familiar with Montgomery's market. Huntsville has a healthy economy and is increasing in population. There are lots of strong employers in huntsville. Those are things I look for when analyzing markets. Feel free to reach out to me with any specific questions or for lender/realtor referrals.
I grew up in Montgomery, live in Birmingham and have visited Huntsville plenty. First of all, I would recommend Birmingham over both cities discussed, but I want to answer your actual question also.
In terms of economic growth Huntsville definitely trumps Montgomery. I think in Montgomery you could probably get plenty of the "$30,000 pigs" that get talked about on BP so much, but if I, an Alabama native, were choosing, I'd definitely go with Huntsville. I read the Birmingham Business Journal online, I read articles all the time on developments in Huntsville. Take a look filter for "news". http://www.bizjournals.com/birmingham/newssearch?q=huntsville
@Maria A A. Both are great markets- the Huntsville market is getting harder and harder to find cash flowing properties. You can find more in Montgomery right now, however, both markets are great for different reasons.
Huntsville 42% of population is renters, last quarter appreciated 6.17%. The 3-year forecast is 3.45% so it will be slowing down a little bit compared to this year.
Montgomery 44% renters. Last quarter appreciated 1.39%, however, it is expected to appreciate over 3-4% in the next 3 years. So Montgomery is expected to appreciate higher than this year. So, it is a good time to get into the Montgomery market to buy low right now and take advantage of that growth.
Both are going to continue to appreciate, so either is a good decision. I do like both markets. Let me know if that helps or if you would like further info please PM me or email. Thanks
I tend to lean towards Huntsville myself, but I am from here. However, I am constantly watching the city grow and it had been doing so much faster the last few years compared to when I was still young and in school. If you come up with questions specific to Huntsville feel free to shoot me a message anytime and maybe I can help out.
@Louis Sutton I do a lot of investments in Huntsville and work with investors, realtors, PMs and wholesalers. I am constantly reading, studying and learning about this market from everywhere that I can get it from. Huntsville has a huge interest in military and weapons.
Updating my thread--- Huntsville has been hot and because of that properties are harder and harder to find and a lot of cash deals because appraisals have been a nightmare there. We have been doing more business in Montgomery lately because the deals are easier to find, pricing is lower and rents are still high. I have a great PM that gives us a discounted fee and a really low tenant placing fee. I would say that the best deals and higher cashflow has been Montgomery lately. Most areas that I am in for Montgomery are B class with 3-4% growth. 1% rent to value ratio. I still like CF in Birmingham too. There are a lot of auto manufacturers in AL in general and lots of jobs.
Updating my thread--- Huntsville has been hot and because of that properties are harder and harder to find and a lot of cash deals because appraisals have been a nightmare there. We have been doing more business in Montgomery lately because the deals are easier to find, pricing is lower and rents are still high. I have a great PM that gives us a discounted fee and a really low tenant placing fee. I would say that the best deals and higher cashflow has been Montgomery lately. Most areas that I am in for Montgomery are B class with 3-4% growth. 1% rent to value ratio. I still like CF in Birmingham too. There are a lot of auto manufacturers in AL in general and lots of jobs.
I'm still a newbie in this whole forum/website. Do you mind explaining what CF stands for?
@Melissa Nash I would love to pick your brain further. I grew up in BHam and have been fascinated by the investments there, but felt like Huntsville was a "better" area. Trying to educate myself further about everything
@Jordan Leithart lets set up a time to chat about the markets. They all have their own benefits but are all very different. Can you Direct message me? It won't allow me to add my personal email here. Send me your email and we can set something up. Thanks
@Carolyn Dietrich. Is my agent here in Huntsville. WE have had this discussion before.
I was looking at Montgomery and Mobile and decided on Huntsville because of the growth. Specifically the Toyota plants and also Facebook is opening a building there. Lots of potential renters coming to town.
@Melissa Nash Howdy Melissa. We spoke a while ago back when I lived in SoCal. @Jordan Leithart What part of Mission Viejo are you. WE just moved to TN from Lake Forest off El Toro. HI @Maria A A. I have invested in Huntsville now for the past 5 years and Have had good returns. It has always been a quality area with the industry always growing. I also invest in St. George Ut, and Pigeon Forge/Gatlinburg. Anytime you want to chat call me I will pm my number. I LOVE talking real estate.
I am a licensed Realtor in North Alabama, servicing HUNTSVILLE, MADISON and surrounding areas. Our market has really started to take off, as of January of 2018. A lot of companies are coming to Huntsville and building, which brings housing growth. A new Toyota Mazda plant, Facebook, a new baseball team, FBI, Blue Origin, defense contracts, etc. It is a market to consider, for sure!
@Samantha Soto Do you recommend any agents that work with out-of-state investors in the Huntsville, AL market?
My parents live in Mobile, AL and we were considering investing there because they've experienced a lot of growth with Airbus and other new companies but Huntsville sounds like a better emerging market.
I am from SoCal and have worked with Carolyn Dietrich now for the past 5 years. She has great deals and also has a the management company that takes care of all the boots on the ground issues also.
@Melissa Nash I am looking into Alabama as my first out of state investment. I, like yourself, am located in OC California and have only purchased MFs in the LB market. I would prefer a few multi family deals and have been really leaning toward Huntsville. Concern is the high foreclosure forecast and rent trending down a bit. Odd and a bit nerve racking to see rent go down in a Market. Thoughts, guidance and and assistance would be greatly appreciated.