Looking for investment homes in Huntsville AL
I live in central Alabama and unfortunately there are just not a lot of deals or opportunities here so I'm looking to investment in Huntsville. I figure with Huntsville growing its tech industry it might be a good place to find not only cash flow positive homes but homes that appreciate as well. However, I only have access to normal MLS listings. I'm looking to find some BRRR homes and I already have a pre-approval for a DSCR loan. I'm just here trying to connect with someone who can help me find my next deal. Thanks!
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@Eric Blair - let me clarify a few things about the Huntsville market, since I actually live and invest here.
It is not "hot" - rents are not going up, MF is overbuilt, and the numbers don't work on 98%+ of properties for sale unless you want to put 25%+ or more down and do a 30 year note. That includes wholesaler offerings.
In fact, the numbers are so bad, I may not buy more than one property this year locally - although we typically do find some deals every year in Q4, so we'll see. We are definitely on pace to sell more than we purchase accordingly, as we sold several investment properties that no longer made sense given the rent "correction" we've seen here.
I'd recommend exploring Birmingham or Montgomery, as you may have better luck finding cash flow positive options. Good luck.