All Forum Posts by: Shelby Ashley

@Deborah McDonough I'll check them out, thank you!

Hey guys,

Does anyone know of some good investor-friendly banks in/around Huntsville, Alabama? I don't have a down payment yet, but I'm trying not to let it stop me. Looking for some banks that offer flexible terms so that I know what my purchasing power

Thanks!

Shelby

Hey guys,

Does anyone know of some good investor-friendly banks in/around Huntsville, Alabama?  I don't have a down payment yet, but I'm trying not to let it stop me.  Looking for some banks that offer flexible terms so that I know what my purchasing power

Thanks!

Shelby

@Eric Thomas those are all important things to think about.  Thanks for your response!

@Michael Tincher thanks for your response.  Fortunately I've lived in Huntsville all of my life, so I have a basic understanding of the variances in property values across different neighborhoods.  You mentioned that you are an agent as well as an investor - have you been investing in Huntsville for very long?  I'm actually preparing to get my real estate license myself in order to gain a better view of the market from a "professional" perspective.  Thanks again for your

Today I came across what looks to be like a great deal. I should note that this is a HUD home...to be honest I don't know much about HUD and how that needs to factor in my analysis, but:

Asking price: $55,000

Sq. Feet: 1,502

Average rent for this zip code: $850

Nearby comps are listed at roughly $85/sq foot.

The factor I'm unsure about when trying to analyze is cost of repairs - this particular house doesn't look to be in very bad shape, it looks like just cosmetic work all throughout is needed. I've been trying to analyze a new deal every day as I am very new and inexperienced. I'd love for those with more experience to weigh in, especially when it comes to estimating the cost of repairs and considerations needed for HUD homes.

Thanks a ton!

Shelby

This is for an investment property - I'd like to hear about people who have been able to secure financing despite having an existing mortgage and no money for a down payment.

I'm looking to finance my first investment property, but I'm afraid chances of financing are slim as I already have a mortgage on my own home...does anyone have experience with this?  Were you able to find financing fairly easily?

Thanks everyone.

My name is Shelby Ashley and I live in Huntsville, Alabama.  I am in the brand-new, overwhelming stages of real estate investing, but this is what I have wanted to do for as long as I can remember.  I'm currently trying to absorb as much information as I can right now before I take the plunge into buying my first property.  I hold a Bachelor's degree in Finance/Accounting and an MBA in Management.  My goal is to obtain a real estate license within the next year.  I'm very passionate about passive income and my ultimate goal is to become financially independent within the next decade.  I look forward to connecting with everyone.  Roll Tide!