Looking for advice to start out!

[Jose Botello]

Are used to live in Cullman back in 2021 and fell in love with the Huntsville area. Wanting to get started in real estate in that area and I'm thinking that my best option is either fix and flip or BRRR. Is there something achievable in the area looking for any advice?

Thank you!

[Preston Dean]

Hi @Jose Botello

I can't speak for your market but

One thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 4

1. Your contractor

2. Your deal finder (agent/wholesaler)

3. Your property manager

4. Your Lender

My suggestion to find #2 & #4 would be to go to the top of this page and click on FIND AN AGENT & FIND A LENDER. There you will be asked your criteria and then after answering a few questions you will be matched with 3-5 agents or loan officers in your area. My suggestion would be to select someone with the most forum posts or most reviews. 

[Derrick G McIntire]

Hi Jose, those strategies are 100% possible. I'm a realtor who specializes with investors and property management in the area. Feel free to reach out if you have any questions!  

[Nina Penuela]

Hi @Jose Botello

It's great to hear that you're considering diving into real estate investing in North Alabama since you previously lived here, but a lot has changed recently! Both fix and flip and BRRR strategies can be viable options, but you will need a strong team to help you achieve your goals and preferences. I work for a management company that has been in business since 2004 in Florence, Alabama and we can help you identify properties to purchase, coordinate the potential renovations with our in-house maintenance team or preferred vendors and manage the property once it's ready to rent.

Best of luck, and feel free to reach out if you have any further questions about Florence or Muscle Shoals, Alabama!

[Nathan Williams]

Jose,

People often miss the first step in starting, which is to identify why you are starting. My son is suffering from a medical condition that requires large bills. I have to help him. What’s your why? Start there, it helps!

Next, what’s your goals? Will large sums of money get you there, or slow drips over time? When do you need it by? 2027?

Next, what do you enjoy? Write it all down.

Next, what exit strategies will achieve your goals? Long term holds (BRRRR), wholesale or fix and flip (money today), vacation rentals?

Next what csn you make work in your market? There’s no LTR cashflow in San Diego for example, but there is appreciation. In a rural area vacation rentals may not be an option.

hope that helps!