All Forum Posts by: Leah McNell

Hello to all! My husband and I have narrowed down our search! We are now focused on buying an investment property near Montgomery AL (preferably Prattville/Wetumpka/Deer Creek areas). We are looking for 3 bed 2 bath listed for roughly 100K. We are currently both in the military and would like to rent our home out to military members (as we know how the process works!) . We will be in the Montgomery Area this March through April. In this window of time we are looking to buy a house. We have reached out to a few Real Estate agents, and property managers but have not yet felt like they have been the right fit for us. We want a real estate agent who understands what we (as investors) what we are looking for (not just a pretty house). We have also only come into contact with one property manager successfully. Is there anyone out there who is currently living in Montgomery who could help us out? Does anyone have advice for how to best approach this market? Does anybody know the best areas that rent? We are motivated to find a good deal and buy a good deal in the very near future but just need a little more insight into this market. Thank you! 

-Leah 

@John Wijtenburg So true. I am reading the ABCs of Real Estate Investing and there are three or four chapters that talk in depth about how critical it is to form relationships like those your mentioned above. Now that we have narrowed down our search (for the most part), our next step will be creating those relationships that will hopefully lead us to find a great Broker/potential property manager. 

@Mari Pearce Thanks for the encouragement. It is a little daunting to be overseas, but my ultimate motivation is to start now so by the time we get back to the states I can get into Real Estate full time. It excites me and will allow me to be my own boss. 

Also, thanks for the advice. We were actually looking in those areas and really liked the Chalkville area the most. It is good to know our research has paid off! Question for you...did you purchase a house in the states while you were overseas? If so what "must dos" should we be aware of. Right now, we are thinking about finding a Broker that can help us potentially find a house that meets our criteria. From there we will most likely hire a property manager. Is this smart? Thanks! 

@James Wise I saw that link in a previous post and that guide is GOLD! Thank you!!!!! 

Hello all. My husband and I have been doing a lot of research about out of state investing. We are currently in the military and stationed overseas, but would really like to start investing now. One of the areas we have been doing some research on is Alabama, specifically Birmingham. We will be in Alabama in March/April for training and would like to use that time to be boots on the ground, take a look at neighboorhoods and potentially find a great investment. Does anybody have tips on what we can do beforehand to prepare us for March/April? Would anybody suggest any other areas in Alabama? Thanks for your responses in advance! 

Mike Alt and Rob Sawyer- Thank you! Very valuable info here!

Love this insight. Real property owners renting to others in Syracuse is just what we were looking for. Thank you all for your inputs. We will continue to analyze houses in Syracuse, but may need to look elsewhere. 

All great advice thank you! We knew the Syracuse was not going to make us millions, but if we can generate a few hundred dollars a month we will be happy....more of a learning experience for us right now. I will have to look into the NY Landlord laws. That plus high property taxes may be a deal breaker for us. Again, thank you all for your inputs! 

Hi all! My husband and I are looking to purchase a house in the Syracuse area and rent it out to a long term (non-college) tenant. We are looking in Syracuse because I am from there (currently in the military) and familiar with the area. We are also interested in the surrounding towns/cities of Syracuse. Any advice on potential growing areas in Upstate NY? Also any advice on how to best factor in the yearly tax payment for NY houses while still generating a small cashflow? Long post short, just looking to learn from those who have bought a house in the Syracuse area and see if they have any tips/trick on how to best go about doing so. Thanks!

Hi Rob. We are currently living out of state, but I am from Syracuse and we are trying to see if doing a BRRR strategy in the area would be a possibility. The biggest LIMFACs for us are taxes and finding a good location that would appeal to renters (preferably long term renters not college students). Do you have any advice on this? Wondering if it would be possible to meet with you all virtually ( I know that is asking a lot). Thanks!

Hello! This is pretty cool info here. We are looking to do exactly what you are doing in Syracuse but are concerned with the taxes. How did you factor in the taxes into your budget while you are rehabbing? Are you expecting to be able to find a renter, pay off the taxes and still generate a small cash flow or are you planning on taking a loss the first year with the expectation you will be able to generate cash flow (with yearly tax rate payment and mortgage payment) in the years to come. Interested to hear your thoughts! Thanks!

@Tom Ott Thank you!