All Forum Posts by: Jason Grey

It all depends on you. Here are a few questions to ask yourself that may help you to answer rent or sell. (You may or may not have asked them already....

If you hold on to the property until the note is fully paid off, would you continue to rent or would you sell it then?

If you sell now, how would you invest your approximately $80,000?

Can you get more rent for the property to get out of a negative cash flow situation?

Do you expect the potential selling price/value of the home to continue to appreciate?

There are other questions of course but these will get you on the right track to make a decision that best aligns with your personal goals.

ps.

If you personal message me your address I would be happy to send you comps on your address. I'm a broker here in Huntsville.

pps.

Concerning the 'double rent', that is a bad idea. Avoid.

@Gaurav A. There is no more room for Madison to grow. Huntsville has annexed land and now literally surrounds it Madison. Hazel Green is still convenient to the Arsenal and Research Park (30 minutes or less) and offer a more country feel. To me, Hazel Green is now, what Madison was 20 years ago when I first moved to the area. 

The new home builders have recognized that and they are flocking to the area.

My experience is anything within 10-15 minutes from schools or grocery stores, the easier it would be to rent. My opinion is that Hazel Green will be the new Madison. Plenty of room for positive growth.

This 3 bedroom 2 bathroom is being used as a student rental. Each room is being rented for $400 per month.

The property is within walking/biking distance from The University of Alabama in Huntsville (UAH) campus. The neighborhood is coveted for student housing. 

The closed-in garage can be converted to a 4th bedroom for additional rental income or the entire house can be rented.

The laundry is contained in the closed-in back patio and I would recommend the installation of a coin/pay-per-use washer and dryer.

This is an off market property. Contact me directly for pictures or to arrange a video walk-thru

Huntsville's rental prices have been relatively flat for the last 2-3 years owing to the fact that they were relatively high for the last 5-6 years. I would say that they are now reaching equilibrium. I would agree with your analysis that rental prices will be on the upswing again soon as over the last several months we have seen major announcements on jobs growth for the Huntsville metro. (Toyota-Mazda plant, Facebook, BAE Systems, etc). Additionally many would be first-time home buyers are being forced to rent because of tight inventory on resales and new home builders not being able to keep up with demand.

1% rule on turnkey rental property is usually a good starting point.

I have heard of and used Redstone Title. They are associated with Redstone Federal Credit Union, the biggest bank/credit union in the area. My dealings with them have been traditional purchase/sale (They were very good to work with). I just don't know if they handle the more investor specific products/transactions.

Add to the list of Investor friendly attorney's "North Alabama Title and Escrow". 

I am sure other will have suggestions as well. All the ones I have mentioned I have personally done deals with and can say it went smoothly. 

Tons. We are blessed in this area. There are many others.

Harrison, Gammons and Rawlinson

Brinkley and Brinkley

Moore and Helms

Hi Samira,

I would be able to help. I just messaged you.

Sincerely,

@Jim Genis.....

Are you buying and holding in Huntsville or are you flipping.

I am a real estate broker in the Huntsville area.