All Forum Posts by: Caleb Bryant

@Frank Konsella 
Welcome to BP! I'm out here in Huntsville so if you have any questions about the area just let me know!

@Derrick Aragon Yes, shoot me a PM and I'll send you my number

We use a modified checklist/repair sheet that I think was originally from fortune builders. It runs through all the items that go into doing a rehab and you fill it out as you go through the property or in your case, the pictures. We are here in Huntsville but it helps us make our offer over the phone vs driving to every property. It's not going to be perfect though so you'll then use your inspection period to verify your projections. 

I'd definitely be careful in the sub 75k range, unless a rehab is involved and ARV is 125+. Lot's of product in the area will look good on paper but operations are another story. I'd highly recommend visiting to understand the areas if you haven't already. Also talk to your property manager about the city of Center Point, they can be tricky to deal with when it comes to inspections.

@Derrick Aragon it's definitely not hype. Been investing here for 5+ years now and it's really starting to take off. Very familiar with the areas here. Seeing a ton of success in 35811, 35810, 35805

@Logan Day Huntsville is a solid area but it's also very desirable to investors so it's tough to find a deal. Birmingham is very area specific but there are deals to be had there if you work hard for them. I have a decent amount of multifamily down there in Birmingham but I'm targeting Huntsville for future purchases.

My investors have loved both 35805 and 35810. Rental appreciation in these zips is outpacing value appreciation, although I've seen sales moving higher in the wholesale space. 35816 is another to consider. Decatur has been very hot in the southeast and southwest sides of town for me as well.

For me it was investing in an apartment syndication. It was a 506b offering but through networking I had met and gotten to know the sponsors pretty well. Finally got a call one day asking if I'd like to invest in a 196 unit in the northeast side of San Antonio. Spent hours reading through offering documents, PPM, and pulled the trigger. It's been consistent cashflow since Q2 of owning and has appreciated a lot since, so exit should look pretty nice next year! Most people could have done a better job than me when it comes to underwriting, strategy, etc, but I was fortunate to be connected with good people. Ultimately it eventually led to me quitting my job and going into REI full time.

@Jessie Kristie 35603

*Note* def not an attorney and I'm not giving legal advice haha. If the wholesale contract has been recorded with the memorandum, then you should be good. When this situation happened to us they could not sell due to clouded title. We were paid our fee when they closed with the buyer they decided to sell to instead of us. In our case there was no back end buyer signed yet so no further action was needed, and we didn't want to renovate the property to rent so we felt us getting our projected fee was enough. We had spent a lot of time on the deal so we weren't about to get cut out entirely though.