All Forum Posts by: Ethan Wilson

 It's been great! We've been able to push rents higher than expected and plan to refi soon to pull out our equity.

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Value-add 4plex for assignment in Arab/Guntersville, AL (40 mins from Huntsville). Asking 325k, Message for details!

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@Vanessa Switzler We have some apartments in Huntsville and just outside of Athens. Both are strong markets but as @Gino Barbaro said, it's gotten expensive. Seller expectations are still high and out-of-state investors are often meeting those expectations. 

In our experience, demand for Class B/C housing in still through the roof. The cash flow is strong, but that's subject to the deal you buy. We managed to get in at good price points with favorable terms on both of those assets.

Happy to be a resource for you in the area!

 Try our guy Perry Keenan with Keenan & Associates. He's done our past 2 complexes in the Huntsville area.

 It was a cold call! We walked it with a few different local contractors to get an idea on cost.

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $200,000
Cash invested: $80,000

This is a 5plex we bought back in November just outside of Athens, AL (about an hour from Huntsville). We put 50k down, 30k in renovations, and the seller financed 150k at 5%. When we bought it, there was 1 unit occupied, bringing in $340 per month. Two months later, it was fully renovated and 100% occupied bringing in $3,500 per month. We estimate its value to be over 400k, so we plan to refi and put the proceeds into the next deal!

 Strongly recommend Titan Construction! They do great work and are super reliable. Here's Carter's number: 256-724-0770

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $1,530,000

Just closed on a seller financed 24 unit in Huntsville, AL! This is a Class C value-add. The terms are: 10% down, 5 year balloon, 1% interest only for 1 year, 4.75% on a 30 am for 4 years. Down payment + reno budget came from investors.