All Forum Posts by: Joseph Back

@Cody Landry I am a full time investor and wholesaler in Montgomery and would love to connect. Montgomery is a great market for building a portfolio of cash flowing rentals. Send me a PM and I would be glad to connect you with the property manager and contractor I use.

@Kevin Freeman I am a wholesaler and rental property investor here in Montgomery and would love to connect. PM me and we can meet up for coffee or lunch.

@Kevin Jabbar I am an investor and wholesaler here in Montgomery and would love to help you out. Regarding a realtor, I have worked with @Michael Atkins a number of times on investment deals and he is great. Also, regarding a closing attorney, I close 5-7 deals a month with James Martin at Martin Closing Services and have always had a great experience. PM me and I can share their contact info with you.

@Josue R. I am an investor and wholesaler here in Montgomery, AL and would love to connect. Definitely one of the greatest markets in the country if your focus is cash flow.

@LB Williams Great job! I am a fellow investor in Montgomery. The cash on cash return on that deal is amazing. If you are still looking for a bank to do a cash out refinancing, I would recommend Trustmark Bank. They are local and just completed a refinancing on a single family rental in Montgomery for me. PM me and I can send you my banker's contact info.

@Scott Emsley I am a fellow real estate investor in Kentucky and would love to help. What city are the duplexes located in? If they are in a smaller rural town in Kentucky I would say you need to get a really good deal because if you ever need to exit the investment and sale them it will take much longer to find a buyer. 

@Patrick Bavaro great work on the renovation. I am an investor and wholesaler here in Montgomery and would love to help you in anyway I can. Completing a BRRRR here is definitely possible but like in any market right finding the right deal is challenging.

@Chace Cottles I agree with @Peter McDonough regarding the roof costs. Just take the replacement cost and divide it by the remaining life and make sure you are putting that much money aside each month to account for eventually having to replace the roof.

For your second question I would just look at Census data for the whole city and see what the population growth rate looks like, this will be a big driver of future housing demand and appreciation. For example, in Montgomery the population has been rather stagnant and actually declined slightly over the last 5-10 years, therefore, I would not expect much if any appreciation going forward. Flipping the coin to the other side, Huntsville's population has been growing at a very fast rate over the last 5-10 years and therefore has a much higher probability of having future appreciation and growth.

@Brandon Castillo The rental market in Lexington is very hot despite Covid. All of my rentals across Lexington are renting extremely quick. Hard to tell you what yours should rent for without knowing exactly where it is located and the quality of the finishes on the inside but overall $775 for a 2/1 near the Summit should rent very quick. To get a more accurate picture for what nearby properties are renting for you should sign up or a free trial for Rentometer and test it out for your specific property.

@Matt Bailey advice is great.

@Ryan Hazelwood I am 24 and own 40 rental units in the Central Kentucky area. I run and own my own wholesaling business which has allowed me to amass a large portfolio of rentals very quickly.