All Forum Posts by: Erin Elam

Hi Chris,

Piggybacking on what @Tal Simpson said... Find you someone with boots on the ground that works in these communities, it is different from block to block. With regards to the upward swing in rent, I'm believe so with some of the economic growth we're seeing entering into the market within the next few years and the current market stats. Birmingham and Huntsville both have acquired some pretty interesting contracts for companies moving / expanding into the region. 

As far as value appreciation,  it's going to be very "hyper-local," speaking from Birmingham. While our city isn't massive, it is spread out and appreciation is going to depend on the township you're in. A Broker report just released for our market as a whole from our Association of Realtors shows sales down 2%, median and average price range up 7% and inventory decreased by 14%. This was comparing June 2017 vs June 2018. Our sales are suffering, mostly due to lack of inventory. However, our prices are going to continue to rise.

With those stats and our current market, depending on the class of property you're interested in, I do expect rental rates to continue to rise. I know far too many people that are selling their primary residences and pushed into rentals just for the fact they can't find anything.

Hope some of this helped some... Good luck!

@Charlie Gomez - Texas is a great location with many different markets. Austin can be expensive but some of the other cities just north of Austin are a little more affordable (Round Rock, Georgetown, etc.). Also, I just moved from the Killeen area which is north of those cities. It's right next to Fort Hood (Army post) which is a large rental market. A lot of investors look there. I've lived in that area three times (my current rental is there). If you have any questions about that market just send me a message. I'd be glad to give you some details and/or answer any questions.

I own 13 properties in Oklahoma as I live here.  Great market, but just like anywhere, there's good and bad.  My suggestion would be connect with someone local and experienced, who may be able to help you locate turnkey properties already rehabbed, occupied and with property manager.  The play here is definitely cash flow, not appreciation because the markets that do appreciate the most here, still are no where near the appreciation on west coast markets, most the better ones are around 4-5% per year, but the cash flow numbers in the best of the best neighborhoods isn't as good as the B/C blue collar, and section 8 properties.  Its pretty easy to find good 1.5% or better rental ratios here in the B/C areas.  In the AA areas, you're lucky to even hit 1%.  The rule here is live in the AA communities but invest in the B/C pockets, or sometimes you get lucky on a property that needs a lot of rehab first.

Tulsa has some great areas. Depending on what price range you are looking for. Pretty easy to still find a house for 100k that rents for $1000. I manage about 500 SFR in Tulsa and own about 75. Typically lease up time in that range is about 2 weeks if priced right. Never had a vacant house stripped but have had some Ac condensing units go missing

I am looking to purchase our first 5 or 6plex in either North Carolina, South Carolina, or Atlanta, Georgia. Is there any one who has a realtor they would recommend that I can reach out to in order to get listings sent and help search for a good property?

Thank you

Know of anyone reputable in the Gwinnett area for remodels?