All Forum Posts by: Joseph Back

@Paul Engelman Would love to help you. Most out of state investors I work with target B-neighborhoods such as Forest Hills, Lakeview Heights, Montgomery East, and Dalraida. In these areas you are typically looking at a purchase price of $50,000-$75,000 for a 3BD/2BA brick ranch that will rent for $750-950. Send me a PM and I can connect you with a great team here locally.

@Joshua S. I agree with @Jonathan Pliszka, just take action. Start analyzing deals and making offers now. You may not get any accepted but you will learn a ton in the process. I learned more from owning my first rental property than from reading the all the books combined.

@Christopher Leet PM me and I would be glad to connect you with some of the local banks I use. I have financed small multifamily packages in the past with People's Exchange Bank, Kentucky Bank, Citizens Commerce Bank and Cumberland Valley National Bank. Happy to shoot you contact info for my banker at each, just PM me.

@Lily Eric Broberg I own a few single family rentals and a retail strip center in Montgomery and they are both doing okay during Covid. All of my single family rentals have continued to pay on time which is great. The 6-unit retail strip center has been a little more challenging as one of our tenants went out of business and one has only been able to make partial payments over the last 2 months. Overall though things are still doing well here I expect them to continue that way. The Montgomery economy is not very tourism or hospitality focused so employment has stayed strong.

@Emily Beatty Congrats, looks like a great deal!

@Jeremy Ballard Yes, please do.

@Josh Franklin I think the answer comes down to whether or not your business with you Dad could use the extra capital from the flip for future deals or if you have enough cash on hand to not worry about it. I try to BRRRR as many properties as I can and only flip it if the rent isn't high enough to make it cash flow or I could use the profit from the flip for a larger deal.

@Jeremy Ballard Not really, the only places I look for deals in are Montgomery, Prattville, Millbrook and Wetumpka

@Trevor Brown What part of Kentucky is it located? I work with a few good local banks in the Lexington area that I would be happy to connect you with. They work with out of state investors on multifamily deals regularly.

@Jeremy Ballard I agree with @Michael Atkins that East Montgomery is definitely the nicer place to live, but if you are looking for a nice balance of solid cash flow while also being a safe neighborhood I would recommend the following neighborhoods: Forest Hills, Lakeview Heights, Dalraida, Montgomery East, and Morningview.