All Forum Posts by: Greg Parker
Greg Parker has started 2 posts and replied 601 times.
Post: I am new and want advice
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Quote from @Michael S.:
@Trent Stevens - new investors should not be looking at C/D properties in Montgomery in my opinion. Those will be rough areas, and very high risk for bad outcomes with tenants and/or property damage.
Just curious - have you been to Montgomery before? You might want to visit it first, and make sure anything you invest in there is a solid cash flow play; appreciation there tends to be limited, especially with the lack of growth there.
SFH in Huntsville/Madison does not cash flow right now unless you have a high down payment, go C/D class neighborhood, or you find a fabulous off market deal. Appreciation has slowed given how rapid everything went up over the past 3 years.
I think Birmingham may be your best option for what you're looking for if you want to invest in Alabama, but I do not have any investments there, so I can't be of much help there.
Good luck in your real estate journey.
@michael s Have "YOU" ever been to Montgomery before? Your information is not correct. We have been experiencing 1% yearly population growth for years. Property values in solid B areas have seen 40% appreciation in the last 5-6 years. Maxwell AFB and 10 colleges/universities give us a great rental market.
Post: New to real estate
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Consider Alabama in your research. 2nd lowest property taxes in the nation.
Post: Need advice owner finance…
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
If the seller terms are better than the banks terms, go that route. It will be a no-loose situation for the seller if you are going to fund the renovation/updates and get the rent rates up.
Get title insurance. You don't want to get the place looking good and find out there is a long lost sibling with interest in the property.
Post: Questions about Series LLCs
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
I asked an attorney years ago, how many properties should I have in one LLC. He asked me, "how many can you afford to loose in a frivilous lawsuit"? If you don't mind losing 10 properties, put 10 in one LLC.
Post: Bay Area Newbie looking to invest both in CA + out of state
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Check Alabama posts. 2nd lowest property taxes in the nation behind Hawaii.
Post: investment out of state
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
I can answer any questions you may have about Montgomery, AL.
We can still hit the 1% rule or better on sf in a solid B area.
Post: Florida Investor looking to venturing beyond State lines in the South East region
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
That is a good price range that will work in Alabama.
Post: Alabama Foreclosure Redemption Right - Can I sell the property I bought at foreclosur
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
Its definetaly a gamble unless you have personal info on the owners, deceased, no heirs, in prison, etc. For specifics, contact @Denise Evans, the Alabama expert on these matters.
Post: Bad credit, minimal cash and starting over in life . . . Is there hope for me here?
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
BP has plenty of info on wholesaling tips and tricks. I need to do more of that myself.
Post: Bad credit, minimal cash and starting over in life . . . Is there hope for me here?
- Realtor, Contractor, Property Manager
- Montgomery AL and Dauphin Island, AL
- Posts 653
- Votes 530
1) Read BP articles, lots of them.
2) Listen to all of the BP poscasts.
3) Read the best RE books, Rich Dad, Wholesaling, etc.
4) Find good deals for current investors(basically wholesaling), bank the cash for your first deal.
gp