All Forum Posts by: Courtney Olson

Good morning,

I’m looking at a 4/2 brick home on an acre Lot in AL and I live in FL. I like the location and it’s currently rented. The structure and roof is good with some issues I want fixed:

-covert fuse box to 200amp cb panel

-storage shed/garage water damage

I’m seeking advice on how to make an offer with either the seller repairing these items (another investor I’m not sure I trust to do it properly) or asking for funds at closing (escrow). 
I believe the most I can ask is 2% for concessions but I’m wondering how the process would work for holding funds in escrow for repairs and satisfying the lender. 

Thank you,

Courtney

Hello,

I've been researching the Wiregrass region in Alabama (Enterprise, Ozark & Daleville area) with Fort Rucker (Novosel) being so close and curious if anyone has any good experiences with SFH? Also, I'm curious if military families rent in the Ozark area and how that area is for rentals.

Thanks!

Courtney

Hello,

I was wondering if anyone had a recommendation for a property management company that covers the Okeechobee, FL area for single family rentals?

Thank you,

Courtney 

This is fantastic information and confirms what I’ve been researching with these areas. Appreciation and long term play is my goal. 

I like Guntersville but what you said about getting long term renters being difficult confirms my concerns. 

Do you like the small towns on the outskirts of Huntsville?  I’m wondering how many renters will work out of Huntsville but want a little space and quiet for cheaper. 

That’s great info about the sports complex in Albertville!  I’ve been following that city as well. 

I’m researching new construction as well near BHM and Tuscaloosa but I have many concerns about NC. Any thoughts?

courtney

Quote from @Michael S.:

@Courtney Olson - you listed a lot of different areas of North Alabama that all have different characteristics, so I'll throw in my two cents here on them.

Huntsville - it is tough to find deals right now that work. A/B class are going to be negative cash flow unless you can find an amazing off market deal and/or put over 30% down with a 30 year note. Even C/D class that cash flow decently are harder to find now.  Several years ago, you could find a rough house in 35810, 35811, 35816, or 35805 for less than 100 a square foot, rehab it, and rent it for cash flow. Now, houses in those zips that need work are 150+ per square foot on the MLS, and even that much through some of the wholesalers.

Guntersville - we have one rental there that has done reasonably well. Rental market there for LTRs is not robust however, so make sure you have vacancy money built in to your projections. Probably a better STR market there, assuming they haven't change the rules on them

Athens - growing area, probably still a solid play for both mild cash flow and decent appreciation at this time with the right deal; we don't invest there, so I don't know that specific market well, but our west Madison properties rent easily. 

Albertville - should be a reasonable cash flow play;  would not go there if appreciation is your goal.

Muscle Shoals - no idea on the market there, sorry

@Michael Ewers mentioned Hazel Green and Meridianville - they are growing areas, but I'd be VERY cautious with new construction, as I don't see those prices being sustainable there.  Finding an older house to rehab in those markets would be a better option in my opinion.  

Madison - strong appreciation play, but negative cash flow without a unicorn deal or major cash down.  Our rentals in Madison are robust but all purchased pre-2021.  Property taxes in Madison city properties are also now ridiculous compared to 5 years ago, and greatly affecting cash flow potential (or lack there of). 

Decatur - cash flow play;  appreciation has lagged Huntsville/Madison/Athens though;  we don't invest there

Good luck. 

Quote from @Rusty Glines:

I am a Broker/Owner in Guntersville and have live here my whole life. Would love to help if you need it. I work with local investors too

Hi Rusty,
Thank you for reaching out do you have a certain area in the Guntersville area you like? I.e Albertville, Boaz, Arab etc…? 
I would take any recommendations you have for property management as well. We stayed on the lake last month and our family loved it!
Thank you,
Court

Good evening,

I’m starting my investment journey one house at a time in Alabama. I live in FL so I’m trying to network and learn the area while investing in Turnkey property as well.  I really like the areas of Huntsville and nearby such as:  Guntersville, Athens, Albertville, Muscle Shoals and want to purchase my next property in this region. 
I would really enjoy learning from others investing in this region and hearing your experiences with Prop Mgrs, Contractors and Rental income. 
Thank you,

Court

Thanks for the insight and I like the idea of increasing payments due to inflation. 

Good morning,

There is a home I’m interested in for a single property investment: 

Ask 160k, prob rent 1300/month , Elderly owner prob owns free and clear

I’m not dead set on this home but I like the property and the location!  For me to make a traditional offer it would have to be very low to make my numbers work.  

I can qualify for traditional bank loan 20% down but I’m exploring making two offers of traditional and seller finance. 

I would love hearing your thoughts and experiences in how to negotiate and what are the best options to sweeten the pot in a SF deal.  

I.e Balloon payments, interest rates

Thanks,

Court