I’m a new investor interested in Florence Alabama

[Erik Pacpaco]

Hello, my name is Erik and originally we are from Honolulu, Hawaii. The reason why I am writing is because I wanted to introduce myself as a new investor who lives in a market that he cannot afford so we have to look to other markets in order to find deals that can meet our criteria such as the 1% rule. A friend of mentioned Florence, Alabama and I became interested in the area especially after reading David Greene’s book Long Distance Real Estate Investing and finding out that there are deals that can be made there. I’m primarily interested in buying and holding by using the BRRRR strategy. That is, buying properties at a low price, renovating it, finding a tenant to rent it, refinancing and repeating the process over again. If there is anyone who would who knows the area, I would love to hear from you and connect. Thank you!

[Denise Evans]

The key to success is finding a good property management company that can also supervise renovation. That is harder to find than bargain properties.  Cruise through the forums and read the horror stories by investors who had bad management.

Shop for the property manager FIRST. There are bargains in every market in Alabama.  Also, don't be afraid of rent-subsidized housing (Section 8)