All Forum Posts by: Tim White

Really depends in this situation.  You definitely want easy transition so having tenants in place is good however if the units are rented at below market rates, have major deferred maintenance, or just not good tenants in place you may want it empty.  After going through three evictions in the last two months I personally would not like the headache of dealing with sour tenants.

Hi @Richard Cumberbatch,

I am a Huntsville investor. I personally invest in 35805 and 35758. I have successfully done BRRR in both areas. Overall most of Huntsville is growing and if the numbers are right you should be able to do a Refi in most areas of the city.

Hi Jay,

I am a local investor.  Have you looked at any of the local REIAs?  You can find them on meetup or facebook groups.

Hi Brian,

I am local investor here and I have some contacts that could help you out especially on the contractor side of the business.  DM me for more information.

Get the properties under contract at the numbers that work for you then send the contract over to a closing attorney.  They will verify all of that information.  If it is a wholesaler they should be direct with you as they would have equitable interest in the properties.

Hi @Alex Sabio @John Mocker wrote up a great review for insurance.  I personally have my rental properties covered with Statefarm.  Before selecting them I did call around to other agents in town.  If you want my agents contact information, DM me.

@Tyrell D Bradshaw I personally started investing out of state in the community I grew up.  I did not use a property manager as many of them charged extremely high fees and were unresponsive.  What I did do was read Mike Browns Landlording on Autopilot and implemented some of the systems he had in place.  One thing I got from the book is to run the rental as a business.  This meaning having roles in the business and one of yours would be the property manager.  Don't tell tenants you are the owner however you are the PM and have to consult with the owner on decisions.  It enables you to past blame onto someone else.  With that if you are afraid to charge a late fee or evict someone property management may not be for you so hire a professional.

@Shawn Costley @Dave DeMarinis and @Samuel Garrett made some good points.  My wife and I personally manage around 25 units in the area and I generally look at Facebook market place and see what properties are currently renting for with both like and kind.  With the rental appreciation over the last 18 months many properties neighboring one another with the same floorplan may have $100+ spread in rent.  I personally would still run my numbers on the conservative side.  If the numbers don't work move on to analyze the next deal.  This all depends on your goals.

@Account Closed who is also a property manager in the area.  There are a few other companies that I may have missed.  I personally manage my own properties and do not work directly with any property manager in the area but 45 days is a long time in the current market.

Hi @Michael Balducci, Congratulations on your success. I am a local investor who has sucessfully BRRRR'd a few transactions in the area. I am also attending the conference in Nashville. On the local level there are a few Real Estate Investments clubs in the Huntsville area that may interests you. Most of these groups are on facebook and have monthly meetings:

Tennesse Valley REIA (Free Monthly meeting held at Newks at University)

Madison County REIA

North Alabama REIA