All Forum Posts by: Shawn Costley

@Jordan Woolf, let me know what you find out.  I'm looking at buy and hold rental properties, but it doesn't appear that there's a huge demand for rentals in the area.  However, I may be wrong.  What are you seeing?

Shawn

Looking for a tree removal specialists in the Huntsville Alabama area. I may have some large branches and trees that need to be taken out and I’m looking for an estimate. Would like to know if anyone has had any experiences with any specialists in the area positive or negative.

Joseph:

Really appreciate the feedback and information!  Extremely helpful.  Are there any real estate agents you recommend in the area that work with investors?  I'll be heading to Montgomery on 18 Jan and would like to take a look around.

Thanks!

Shawn

Happy New Year everyone. I'm currently investing in the Huntsville AL area, but am giving some thought to doing something similar in the Maxwell AFB area in Montgomery AL. I'm kind of a standard SFH 3/2 kind of investor. Being a military brat, I'm somewhat familiar with rental markets outside of military installations.

I'd like to get some opinions from investors and/or real estate agents currently in the Maxwell AFB area:

1.  What are your general thoughts of the area?

2.  Hot ZIP codes in the area?

3.  ZIPs to avoid?

4.  Rental range

I'm doing my due diligence, but input from actual hands-on investors is always helpful.

Thanks for your time!

Shawn

@Jon Wright and @Mark A Story:  Thanks!  I have an opportunity to either wholesale/purchase a property there and was trying to gauge interest before I put a lot of time and research into it.  It's not far from UNA.  

What type of investing are you both into? BRRR, Rentals, flips....?

Shawn

Good morning!  I'm in the process of purchasing a rental property that comes with an existing tenant.  The tenant has a rental agreement in place that doesn't expire until April 2021.  In Alabama (if not US-wide) What are my obligations in terms of honoring the lease?  

My thought is that there's probably a certain time frame that the original lease is to be honored (e.g. 6 months - year), before I can incorporate mine, but would appreciate any insight.

Thanks!

Shawn

@Brett Hennessy I'd be interested in hearing more about North Star.  I'm in Huntsville area, but haven't heard of them.  What made you select them and have you been pleased with their services?

Shawn

I live in Huntsville, AL and I'm looking at a few rental candidates for my own buy and hold portfolio (primarily SFR, 3/2 or better). This will be my first purchase. What I'm beginning to notice in several old neighborhoods are patches of blocks where rehabs are taking place--which is typically a good sign. A few of these properties are being sold and are rent ready. The ones I'm looking at are less than $100K.

I'm working the numbers in the BP Rental Calculator and am trying to ascertain what to charge for rent. I know (via rentometer and rental comps from my agent) what the rent is for the older homes. Because my potential purchase will be a newer rehabbed home, what would be a safe percentage markup to use in my calculations? If I utilize the current rental rates of the older homes and the purchase price of the rehab in the rental calculator, I'm unable to achieve either the Cash on Cash ROI (minimum 12%) or desired Cashflow ($200.00).

I'm concerned about setting a rental price that may be too high for the area--especially when your one of the first few properties going through the rehab process.  Any tips, tricks, hacks or recommendations?

Also, should I expect my Cash on Cash ROI and Cashflow numbers to work on properties below $100K or is the property price immaterial?

Thannks!

@Einat Menashe, @Don Mangiarelli, @Phil Shearcroft welcome to the area.  I'm also in Huntsville and am pursuing wholesaling.  What areas of real estate are you interested?

Great information from everyone and thanks!  Looks like I have some more homework to do.  @Javier D., the neighborhood varies, but probably more central air than units.  The price on the home was greatly reduced in part to no central air.

Sadly for me, an offer was made on the home and is pending.  It was a nice gem for the area.