All Forum Posts by: Kiley N.
Kiley N. has started 8 posts and replied 222 times.
Post: Tertiary market voted the best place to move in 2022
- Honolulu, HI
- Posts 231
- Votes 192
Guys, guys, we should be happy that investors get turned away by these kinds of google searches.
Post: Huntsville International Airport-Dream Chaser Landing Site
- Honolulu, HI
- Posts 231
- Votes 192
Originally posted by @Michael S.:
So let me get this straight - we could potentially land a spacecraft here, but still can't get Southwest airlines here? Sure, that makes sense.
That said, thanks for posting.
LOL
Post: Advice for repositioning an entire portfolio
- Honolulu, HI
- Posts 231
- Votes 192
@Daniel K. Careful you don't cut the flowers and water the weeds - especially with a good team in place.
Check with your lender to see if you can refi all of your debt onto one house and have the other ones free and clear. Then maybe you can stick a heloc on those for a rainy day or a sunny opportunity.
Great problem to have - good luck.
Post: Condos in Huntsville
- Honolulu, HI
- Posts 231
- Votes 192
Originally posted by @Michael S.:
@Ankit Garg - interesting feedback from the bank on this - I understand the HOA finances concern by the bank - I do not really understand their concern with the owner occupied number of condos though - I wonder if that is unique to the bank you talked with.
We have not gone the route of investing in condos, as the HOA fees can sometimes be prohibitive to making the numbers work.
For banks, in general, historical data suggest that owner occupants are more likely to value and protect their property in addition to having a perceived higher vested interest in managing the HOA properly. A high percentage of investors in a given project can be viewed as a higher risk for mis-management of the HOA and/or likelihood of numerous owners walking away from the investment entirely if values dip.
Doesn't seem like this will be the case in Huntsville anytime soon but good to see underwriting standards are in place despite the competitive market.
Post: Home Inspection Misses Roof Replacement
- Honolulu, HI
- Posts 231
- Votes 192
If this was in Huntsville let me know.
Post: Looking to purchase my first rental property in Harvest, AL
- Honolulu, HI
- Posts 231
- Votes 192
Tough to find under 100k in Harvest these days.
Post: Partnering with the Seller
- Honolulu, HI
- Posts 231
- Votes 192
DK: Let's chat. I'll DM you.
Post: Huntsville Multifamily Market
- Honolulu, HI
- Posts 231
- Votes 192
Either or. I prefer it split out from the rent but have seen it combined as well.
Post: Huntsville Multifamily Market
- Honolulu, HI
- Posts 231
- Votes 192
@Conner Daniel: Huntsville MFH has been on a tear and competition has been particularly hot for 4-plexes in good areas. House hacking on an FHA can certainly give you a leg up on some of the competition. Just be careful about getting into bidding wars and allowing that advantage to take you beyond your underwriting. Securing a good off market deal would help as well.
@Luke Hadden : I have not seen RUBS implemented on MFH in Huntsville. More common is a flat monthly utility reimbursement fee which removes much of the complication.
Post: Huntsville Market & Covid-19
- Honolulu, HI
- Posts 231
- Votes 192
Agreed. Multiple offers at asking. If these conditions continue we are gearing up for a crazy summer as sellers realize that they don't need to fear a COVID discount here.
I took a dive into the AL COVID numbers and Huntsville is holding up well relative to the other major cities in AL. Time will tell if the relatively low case numbers can be maintained.