All Forum Posts by: Greg Spring

Try Astro Property management...their owner @Zachary C is a bigger pockets member and his team have been very helpful with our rental

I just put a home under contract near Bridge Street and Research Park as a rental for for my daughter that's a student-athlete at UAH. I plan on using Rocket City Mortgage, they have received several recommendations.

@johnwhite thank you...unfortunately I don't have access to USAA

Hi, my wife and I have a SFH under contract as a rental near UAH Campus and looking for an investor friendly insurance agent or Broker to insure the property. Any recommendations would be greatly appreciated, thank-you.

@Zachary C. Thank-you and @Brian Reynolds for the map. My wife and I live in Franklin, TN and have been scouring the Huntsville Market for a rental property to purchase near UAH...its definitely a sellers market 0-5 mins off campus.

@David M White your right and we decided to continue our search and follow up with the owner of the 104K home at a later date and see if he would be willing to drop his price

@Tim White Thank you for you for your advice, this is my daughters 2nd year at UAH as a student-athlete. My thoughts on the close proximity is to keep the home long term after my daughter graduates and continue to rent it out to students, and not drift to far north of the campus, due to crime concerns. We chose to continue our search and re-visit the 104K house after letting the owner sit on it a little longer, let him season for a little while. At 104K taking into account all expenses, the cash flow and our cash-on-cash ROI was too thin and didn't make sense, but it still was much cheaper than paying for residence on the campus. The plan with this home or any other home is too rent out the remaining rooms to her room mates. One more piece of info on the 104K house it has the potential for a 4th bedroom, allowing us to rent out 3 rooms, and my daughter would use the 4th bedroom.

Thank you Joseph, you have given me sound advice and wise words

Sorry for the delayed reply @The only special thing about this home is location and convenience to campus, it's only a 2 min drive from campus, 5-10 min bike ride, neighborhood is decent with other college rentals. Homes within this range are being snatched up by investor's. We are continuing our search but just hope I'm not missing a good opportunity.

Hi!

I have an opportunity to purchase a single family home, 4 bedrooms/2 bath home within 3 minutes of UAH campus in Huntsville, AL. It would be for my daughter who is a student-athlete at UAH and 3 other roommates. This would be my family, 1st rental property. We live approximately 2 hours away in Franklin, TN. We are looking to save some money on residence hall expenses over the next several years and keep the home as rental after my daughter graduates.

I am a pro member and have analyzed this property several times with the Rental Property calculator. It could cash flow right under $100, taking all expenses in account and saving for vacancy, maintenance, capex and paying for PM, not ideal metrics. The homeowner is a firm on a sell price of 104K on a home that has not been renovated at all and is about 10K more than other homes that have sold around it in the last 6 months or longer. My question is for anyone that is familiar with Huntsville market near UAH campus, is should I take the sell price and consider the other wealth generators(Appreciation, Tax Savings and Loan Pay Down). Any advice would very much appreciate, I need to make a decision fairly soon.

Thanks,

Greg