All Forum Posts by: Greg Parker

Yes, I have built several in the Montgomery area, but the only way I have found to make money here is in the larger custom homes. The big builders have the market wrapped up in SFR affordable. They have a small margin of profit and some of that comes from the land development. And, they have volume deals with the Realtors. They work all of their deals in volume; suppliers, subs, agents. But, one way you can profit in the gentrification outskirt areas is to find old vacant lots that can be bought dirt cheap and build a small house there, and buy vacant run-down houses and have the fire department do a practice burn, haul off the debris and build a small house there.

I agree, go with vinyl in a B property.  There are some great durable affordable options out there.

Based on my experience, you can not build affordable housing and expect any cashflow.  But, check on section 42 properties(if they are still around).  It is a tax credit deal that will offset taxes on your other profitable properties.  But, the new pending tax code may change that also.

I am a Realtor in Montgomery, Alabama. Don't worry about hurting an agents feelings, if they are not bringing the deals you want, just move on the next one. And, don't trust them with your contracts, they are not lawyers. If you find a property not on MLS, just have a closing attorney do all of the work for you. Typical closing around here is $450.00 for attorney fees(compare that to the real estate commission on a 150,000 property-probably 9,000).

Hey Jody, I actually work for Auburn University. Keep me in the loop when you get ready to sell those properties. It is hard to find anything here that will cash flow since the prices are so high. Me and a friend are working on a deal now we found through an acquaintance that should leave about $600/month after all expenses, so we are excited about that. A couple of guys here at work are wanting to buy some income property but they are having a hard time finding anything unless it is waaaay off of campus. I have full access to MLS, so I can send you some comps when you get ready to sell.

Yes.  But, as you know, location is everything.  In Montgomery, location is EVERYTHING!!!  I can start keeping my eyes open for something and let you know.  I guess you can look me up on my profile and e-mail me if you want to(I think my info is on there).  And, definitely let me know if you are looking at a particular area and I can tell you if it is good or not.  Plenty of duplexes in D areas, a few in C areas.  Very few in A or B neighborhoods. 

And, if you have a minute this weekend, you can stop by and check out the flip I am working on off of Bell Road.  I should be there all day Saturday and Sunday.

Hey Jonathan, I could probably answer any questions you have.  I have been working in some form of the Real Estate industry in Montgomery for 30 years. 

No way to get those kind of rents in 36107 or 36109.  36116 is a B area, some C.  I have been in Montgomery for 30 years.  Let me know if you have any more questions.  I can probably answer them.  I could even ride by and take a look when I am in the area.  In the 36116 area, one street may be fine, but the next street could be all crack houses.  Some of the 36116 will be C or D areas within a few years.

Great deal.  Any words on how you found the property?  Was it formally listed?