All Forum Posts by: Matt Bell

@Michael K. Smith feel free to send me a private message - I have a list of contractors, subs, realtors, property manager, closing attorneys, wholesalers, etc to get you started in the Montgomery market.

@Garnett Freeman II

We write our offers with just the street address and legal description is added later as part of closing documents.

@Jill Herzig we use CJ Hodges at Paramount Properties - 14+ years of experience, over 140 properties managed currently, ZERO evictions on tenants she has placed over those 14 years!

@Moise Demesier Sam Johnston at South Oak Title in Montgomery or James Martin in Montgomery are both friendly.

@Kevin Freeman welcome to BP. Happy to share my list of contacts from contractors to agents and insurance for Montgomery. Send me a private message or email. We have 30+ properties in the Montgomery area currently.

I have paid off 7 of my 11 personal rentals (have 24 in an LLC with a partner that are leveraged) but I am also putting in a place a secured line of credit on the 7 that are free and clear. With rates so low, I will have access to nearly $700,000 on my line at 4% interest if and when a good deal arises and then I can refinance that new purchase into a mortgage and pay off the line. I can also lend to friends at 9-10% interest and make an arbitrage on the rates but if I feel the market turning down I can probably call most of my money back in fairly quickly and be able to pay the mortgages on the leveraged properties as long as I maintain 20-25% occupancy. This gives me both economic security and allows me to scale some as deals arise.

We use Jason Head and CJ Hodges as our Realtors.  CJ is also a great PM.

@Andrew Postell

We use Sam Johnston at South Oak Title.

@Patrick J.

Very little appreciation in B and C class rentals. We invest here for the cash-on-cash return which for the vast majority of our properties is infinite since we were able to BRRRR all of our money out of the deals. I also do some personal investment in higher end rentals where I just put 20% down and my usual cash-on-cash return is 15-20% and I am seeing some appreciation in those of around 10% total in the last 2-3 years. We currently have 21 rentals we did BRRRR on and I personally have 7 rentals where I did a down payment.

There are various reasons why people would rent for $800 when a mortgage would be cheaper.  (1) They have not saved up the down payment; (2) They cannot qualify for the loan for various reasons; (3) they do not want to be responsible for maintenance of a property; (4) they plan to move in the near term and do not want to have sell a property that probably has not appreciated much a couple years down the road; (5) They don't even realize a mortgage could be cheaper but have a renter mindset because of how they were raised.  There may be other reasons but the few of our tenants I have known and spoke to directly (we use property management since we are out of state) reasons 3, 4, and 5 are most common.

@Matt Everling We invest there from out of state but I used to live there and know the market. DM me and we can connect and discuss by phone. We currently have 31 doors - mostly single family and mostly Brrrr strategy.