All Forum Posts by: Greg Parker
Greg Parker has started 2 posts and replied 601 times.
Post: Rent to purchase price for under 180K
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Post: Section 8 rentals
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Sec 8 does well here in Montgomery. I have lots of out of state buyers that I purchase for that put them on sec 8. Several from the Miami area also. It is the luck of the draw with any tenant, sec 8 or traditional. But, the average stay of a sec 8 tenant here is 7.5 years, so that is a bonus. Most tend to act right so they won't lose their voucher.
Post: Texas just made it easier to remove squatters
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Alabama has it in place also. Kay Ivey(governor meemaw) passed it in 2024.
The new squatters law passed in 2024 gave owners of dwellings the right to have law enforcement remove squatters from property, provided the owner filled out a required affidavit. This was supposed to be an improvement over the former law enforcement response of "Sounds like a civil matter to me. Talk to an attorney."
The new law amended Alabama Code Sections 13A-7-7 and 13A-10-102
Post: 24-Year-Old PM Moving to the Southeast — Advice on Breaking Into Deals?
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Post: Looking to invest out of state. Will be my first investment!
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Purchase a house for 80k that needs 20k updates. Force some appreciation, maybe to 120k ARV. Rent for $1,000. After the seasoning period, refi your money back out and repeat.
https://www.biggerpockets.com/markets?market=Montgomery%2C%2...
Post: First time out of state investor - Need advice
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Concentrate on B or B- areas. Cash flow and appreciation. Put 50k down on 8, 100k properties. The volume will help you out with Capex. (probably not going to need 8 HVAC units all at once, or roofs, etc.) That should make you $300/mo. x 8 cashflow. $28,000 yearly = pay off 1 every 2 years, then it snowballs. Hopefully have them all paid off in 7-8 years, then you are making 100k a year passive income.
https://www.biggerpockets.com/markets?market=Montgomery%2C%2...
Post: investor friendly states
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Good info Melissa.
Also, consider squatter issues. Our Alabama Governor, Kaye Ivey(Governor meemaw) recently helped investors deal with squatters:
The new squatters law passed in 2024 gave owners of dwellings the right to have law enforcement remove squatters from property, provided the owner filled out a required affidavit. This was supposed to be an improvement over the former law enforcement response of "Sounds like a civil matter to me. Talk to an attorney."
The new law amended Alabama Code Sections 13A-7-7 and 13A-10-102
Post: Looking for Cash Flowing Long-Term Rentals in Class B+ Neighborhoods
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Post: Hard Money Loan Officer Wanted In Alabama!
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Send info please.
Post: Anyone still closing BRRRRs with less than 20% in?
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
We can hit those numbers on maybe 1 out of 5. But usually we have to leave a little money in the deal.
https://www.biggerpockets.com/markets?market=Montgomery%2C%2...