Looking for 1st deal

[Michael Behr]

Hello,

I’m looking for my first deal within 100 miles of Huntsville Al. I have a primary residence currently am open to making that a rental also. I want to buy and hold and have enough for about 20-25% of 165-175k for investment down payment. I would like cash flow. If I could find a multifamily to househack that may be a better option for 5%. I’m looking forward to connecting with agents, lenders, wholesalers, and other investors in Alabama 

[Lindsay Davis]

@Michael Behr,

Welcome to BiggerPockets! Since you have a primary residence in the area, you’re probably already aware of this, but it’ll be tough to find a property in Huntsville proper within your $165,000 to $175,000 budget.

Luckily, your 100-mile radius puts a handful of nearby (and more affordable!) markets on your radar. For example, places like Decatur and Hartselle—which are 25 and 35 miles southwest of Huntsville, respectively—could work well on your budget. As for the numbers, we’re seeing $150,000 single-family homes in Decatur yield $1,250+ in monthly gross rents, so there are definitely some strong candidates for cash flow in the area.