All Forum Posts by: Greg Parker

What city?

I am sitting in my STR on Dauphin Island as I am typing this. My property has appreciated about $100k in 2 years since I have had it. Some facts:

+  The west end has erosion and flooding issues.

+  Waterfront property prices range from $500k - 2M.

+  Across the street properties start at $400k.

+  I am all in on my waterfront for around 600k and bring in about 50k income.  And, we take all of the good holidays for ourselves(memorial day, labor day, 4th, Thanksgiving, Christmas, Fish Rodeo)

+  It is a great family vacation area, not like Orange beach with the endless condos, strip malls, etc.  Lots of fishing spots, parks, beaches.  The preferred method of transportation is golf carts or bikes.

+  Reach out if you have any specific questions.

Interview several property managers.  Search BP for PM's in your area.

Ask for:

+ sample LMA(lease management agreements)

+  fees, pets, tenant placement, 

+  maintenance agreements, AC filters, inspections, max amount they can spend without your approval

Depending on the location, also consider a STR property manager.

Alabama.  Second lowest property taxes in the nation.

Very leandlord friendly.  And, our governor just signed agressive anti-squatting legislation.  Basically, if you are a squatter....we are sending "that" uncle to have a discussion with you...lol

You can get 2 houses in B areas in Montgomery for $250,000.  125k house will rent for $1,050 -1,150.

And, second lowest property taxes in the nation behind Hawaii.

You literally said, you are looking for buyers in Alabama.

I literally said, I have buyers.

Did I miss something??

I have buyer in Montgomery, AL.

Stay where you are.  

+Find a local Realtor that works with investors, or a wholesaler.  

+Use the cash to buy something.  

+Get it rent ready.  

+Finance your cash back out and repeat.

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.

2. Alabama

• Effective Property Tax Rate (2019): 0.37%4
• Typical Home Value (2022): $189,9766
• Annual Taxes on Home Priced at State Typical Value: $702.9

The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022. The metro area population of Montgomery in 2022 was 367,000, a 1.94% increase

Back in 2020, BiggerPockets also did an analysis with similar results. It found the five most landlord-friendly states to be:

1. West Virginia
2. Arkansas
3. Louisiana
4. North Carolina
5. Alabama

Sure, what types of properties are you looking for?