All Forum Posts by: Mike Chavan

 @Brian P. I am looking in Huntsville area and single family homes

Is anybody familiar with any resources to find good property management companies that handle the north region of Alabama? Any investing experience in this area or any references? Thank you!  

Keep me posted, Matawan NJ

@Lane Kawaoka 
Hey Lane, Just to give you a breakdown of my situation, I'm looking to purchase my
first investment property in Alabama. Im 24 years old with a credit score over 760, I make a little over 100k a year at my job and I can comfortably save about 40k each year. I don't plan on using the BRRRR strategy.

My plan is to purchase a home with little to no repairs and rent them out. 
I would like to continue applying this strategy one to two times each year and let my properties pay for themselves while paying off my loans and making a little money on the side in the meantime. Eventually building a second source of income for myself semi passively to supplement my current job.  

I created this account to network, learn from the pros ( such as yourself ) and maybe get some good referrals along the way. 

My questions for you would also be:

- Should I shoot for a 15 year or 30 year mortgage and why?

- After reading your article, I was curious why you stopped after 10 properties. Was it the headaches of being a landlord or was there another reason? 

- When you say invest in turnkey properties, are you referring to properties with tenants already in place, or properties that don't require many repairs that you can purchase and immediately place a tenant in?

Thank you for the insight and taking the time to help the newbie! Any resources and articles/information are always much appreciated! 

I live in New Jersey and I am considering investing out of state in Alabama rather then in Jersey because I can see a higher ROI almost 10 times out of 10 over there. Had a few questions if anybody has experience in this area or just out of state investing in general...

- How do I go about taking out a mortgage in out of state properties
- Where can I find good property management companies 
- Should I purchase this property as an "investment property" or a "secondary property" (I do not own a home in NJ) 
- Where are the best places to form my team when looking out of state ( Contractors, handymen etc..) 


My overall goal is to purchase a home, rent it out, pay my mortgage off with my tenants money and make a little "passive" income monthly on top of it. Eventually I want to be able to (hopefully) own enough properties to rent out and match what I make at work with my rentals. Any advice or guidance would help. Thank you!