Who else is selling now in Huntsville or Madison, Alabama?

[Michael S.]

For my fellow Huntsville and Madison investors, I am curious to know who else is now selling one or more of their long term buy and hold properties.  

I am not referring to properties you bought for the intent of flipping.  I'm talking about a property you fully intended to hold for 10+ years.  

We have a property we bought in 2019 that we planned to hold indefinitely, as it is in a great location.  However, the appreciation on the property is now 6 figures, and it only breaks even on cash flow (granted, it is on a 15 year note).  As such, we can not justify holding it any longer, and are putting it up for sale next week after it gets repainted to show well.

We are still buying deals when they appear out of nowhere - although they have been few in 2022 (until the last month ironically - even one MLS deal which is an absolute unicorn).

I was simply curious to know how many other investors in this area have started cashing in their planned long term buy and holds.  Figured it was an interesting topic of discussion for this region. 

[Craig Stahl]

I decided to sell one in Toney and one in Meridianville that I planned on holding forever. They don't cashflow enough to pass up taking the equity now. I am also selling one in 35810 that has given me nothing but trouble. I am finding that my large 4 bed/2 bath houses in 35810 lose money. My small houses in 35810 make money.........I'm selling and taking the equity off the table. With profits from these 3 I will be able to lose $420,000 in mortgage debt and payoff 2 mortgages on other properties. I may be wrong but I suspect we are at the top in Huntsville and want to be in a stronger position to ride out possible recession........although Huntsville's economy is booming.