All Forum Posts by: Chris Mignone

@Jonah Stevenson hey man. My company buys a ton of houses in Huntsville. Happy to chat.

@Eric Feldman

Let me know if you find someone. I may be able to give you some business.

@Henry Clark Amazing stuff my man! I’d love to do something like this. A buddy of mine just built a duplex on the water in Placencia

@Florencio Nayve yes. The vast majority of Madison, Morgan, and limestone counties should be prime appreciation plays over the next few years.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $285,000
Cash invested: $10,000

This property is a total of 2 acres. It has 2 duplexes and an ADU on it that were all rented slightly below market rents. There was also a camper on the property that had previously been rented out. There is another 1 acre of land that can be developed however we see fit. We may build more units when labor and material costs come down, or possible set up mobile home pads to lease out. We also may consider selling the property to another buy and hold investor if we came across the right offer.

What made you interested in investing in this type of deal?

We are always looking for solid properties to add to our portfolio.

How did you find this deal and how did you negotiate it?

Our property manager brought it to us before it went on the market.

How did you finance this deal?

We used a bridge loan from a national lender who specializes in working with investors.

How did you add value to the deal?

We made necessary repairs that had been deferred by the previous owner and have started freshening up the units.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $285,000
Cash invested: $10,000

This property is a total of 2 acres. It has 2 duplexes and an ADU on it that were all rented at or slightly below market rents. There was also a camper on the property that had previously been rented out. There is another roughly 1 acre of land that can be developed however we see fit. We may build more units when labor and material costs come down, or possible set up mobile home pads to lease out. We also may consider selling the property to another buy and hold investor if we came across the right offer. For now, it will cash flow and we are exploring different ways to increase that cash flow.

What made you interested in investing in this type of deal?

We are always looking for solid properties to add to our portfolio.

How did you find this deal and how did you negotiate it?

Our property manager brought it to us before it went on the market.

How did you finance this deal?

We used a bridge loan from a national lender who specializes in working with investors.

How did you add value to the deal?

We made necessary repairs that had been deferred by the previous owner and have started freshening up the units.

@John Gentry I think it’s easier to get a flip right now, than it is to get a good rental. Figure out if you have something to offer an experienced investor and maybe you can help them and they can help you in return. Just a thought.

@Shane Lyons what is it that you’re looking to do exactly?

@John Gentry I haven’t bought anything in Florence, but I’ve bought a bunch of doors in Gadsden and I can tell you that sometimes, buying cheap 100 year old houses doesn’t work out the way you’d hope. And yes, it’s very tough to cash flow in and around Huntsville right now, and there are definitely a lot of people buying “investment” properties, who are losing money every month.

@Ralph Richardson I love the entire northern Alabama market, not just Huntsville. Don’t sleep on areas like Athens, Hartselle, New Market, etc. we find lots of good deals in a 30 mile or so radius around the city.