Columbus, GA / Phenix City, AL Rental Investments

[Jake Snavely]

Hi! I just picked up my first deal in Huntsville, AL, but am starting to notice that finding deals in that market is becoming increasing lot more difficult. Someone turned me on to Columbus, Georgia. Strong military presence, strong rental market. SFRs under $100k in good areas renting quickly for $1,000-$1,100. Can anyone verify that this is true? And does anyone have experience in investing in rental properties in Columbus, or neighboring Phenix City, Alabama? Thanks so much!

[Donnie M.]

@Jake Snavely Those less than 100k SFH that rent for 1000-1100 do hit the MLS occasionally and go fast. We've had 3 in the past 4 months where out of state clients bought homes in the 70 - 78k range we rented them for $995 - 1150 but they usually get under contract in 3 or 4 days at most. Rehabs have been in the 6k - 10k range.

With that said, Bryan is spot on because you get those rents are in the better neighborhoods in the east side of town 31907 area.  I own two rentals in Phenix City and bought one for 34k and one for 39k put 10k in each.  Refinanced them both to get my money out but they only rent for $795 and $775 but property taxes are a little cheaper in AL.  Call me any time if you want to talk more about the market.