All Forum Posts by: Dena Puliatti

@Andrew Syrios I agree with you that real estate agents are not the best on reality rents.  Better to use an investor agent/property manager.  That way you know that we are telling you the best information because we work in that industry and have to answer to you once the property closes.  We all know comps can be skewed to close a deal.

@Luke Ache Welcome to Huntsville!  There are good opportunities here, but this is more of an appreciation market that a cash flow market.  That being said, the rental market is booming. Much better to have someone in your property covering your expenses and making a little income while you watch it appreciate.  Quads, if you are aggressive enough to get them, are appreciating rapidly, even in some of the C class neighborhoods.  While 12 month leases are the norm, there are more quads recently that are accommodating short term clients with a much higher yield.  Of course, management fees will be higher on short term rentals because they are labor intensive. 

Sending you a PM.

I would recommend Alabama Closing and Title.  Jami Blanton is excellent.

Go ahead and pull the toilets and replace them.  New toilets aren't very expensive, and it will save you a headache.

Congrats on your real estate foray! For off market deals, you are going to want to connect with a wholesaler.  As an agent, I occasionally will have another agent call me about one they have coming up to see if I've got a buyer. Definitely connect with an investor agent/propertymanager.  We operate differently than a residential agent.  Make sure the person you choose is knowledgable in rents.  As a property manager, I buy and manage for my clients. I'm always straight up with them about rent because once we get it closed, I have to get what I said I could in rents.  You don't want an agent giving you top comps just to close a deal.

Agreeing with everyone here on this one.  You may also have the obstacle of obtaining the Certificate of Occupancy.  

@Account Closed. Completely agree.  This is certainly a buy and hold market in Madison County.

Definitely call around and see who you click with.  If you have an investor agent, even better.  Having an agent that is knowledgable about the rental market is crucial.  Otherwise, you could get high rent comps to get to the closing table, and then be disappointed in the rent you can attain.

Are you on the mailing lists for local wholesalers?  That may help. Before you drive or send out mailers, make sure that your preapproval is ready, otherwise you will be wasting time.