All Forum Posts by: Myron Fletcher

@Matthew McDermott DM sent

Can someone please send me some recommendations on property managers in the Huntsville, AL area.

Looking for a reliable contractor for HSV, AL. Any recommendations will be much appreciated.

@Conner Daniel

No problem. Let me know if you have more questions. Be creative and think outside the box. You can house hack two years in a row. Buy a duplex this year and buy another one next year and look. In two years you have 4 units.

@Conner Daniel

The 4 plex market in HSV is hotter than ever. I too house hacked when I first got started. The issue is the same 4 plexes back then were 99k and today they are 250k. Still not bad considering the income they bring in but the 4 plex market has increased in price dramatically but you can still get good returns. Be sure to stick to the 1% rule and really find the deal that best fits your criteria.

For me it was based on cash on cash return, downpayment, and cash flow per month. Get a pre approval because the market is hot and the sellers won't make a deal with someone who doesn't have a pre-approval.

The issue your going to run into in HSV is trying to find a 4 plex that's not fully occupied to qualify for the FHA loan. My team focuses on 4 plexes and for the most part they have all been occupied. But you might have better luck with the duplexes in HSV.

Thats my two cents. Hope that helps.

The issue your going to run

I agree 100%. Being an investor in multifamiles in HSV we see that there is no slowdown in the momentum in the market whatsoever. The rental market is fabulous and has grown tremendously over the last 10 years. We just closed on 6 more units this week and they are fully occupied units . They were on the market for 1 day before they had several offers on them. The market is hot and things don't last if they are priced right. We have even noticed things priced way outside of the norm going faster than expected. HSV is the place to invest. If you have any leads on multifamilies let me know! We are always looking to add to our portfolio.

I am new to real estate rental properties (just got my LLC established in Alabama). Through a connection with the loan originator that helped me finance my personal home, I will be talking with a banker about financing options on 3/30/18. I am interested in getting single-family homes, duplexes, quad-plexes and/or small apartment complexes. I am mostly interested in financing options that minimize the us of my own capital. Could you please share some advice on some good questions to ask the banker regarding financing options?