All Forum Posts by: Matthew McDermott

Hi Brian. Hope you're well. We focus exclusively on being the best property manager in town. We would love to support you in your growing portfolio. Please reach out at your earliest convenience.

Quote from @Richie Thomas:

@Matthew McDermott thanks again.  I hadn't considered Decatur up to this point, but I will.  I went to Big Bob Gibson's BBQ last time I was in town.  Investing in Decatur would give me an excuse to go back!

 Awesome. That's a must in Decatur. I'll show you some more next time you come :)

Quote from @Richie Thomas:

@Matthew McDermott thanks for adding your input.  Glad to hear that your experience with the cap rate in the suburbs was comparable to that of the city proper.  What's your take on the path of progress as Huntsville and Madison start to become pricier?  Is new construction following any one path in particular, or spreading out in all directions?

You bet man. Path of progess, it seems to be going in each direction. I don't see it going a ton south of the Tennessee river right below South Huntsville. I also don't feel it much going farther east past hampton cove and Owens Crossroads, although those are 2 good areas. I think New Hope and Hazel Green seem to be quite promiseful. A lot is happening in building up Harvest and Athens although I think it will take longer in Athens because there is still a lot of space before then. My favorite submarket of HSV is Decatur. My office is in HSV but I personally live in Decatur. The costs are lower but the commute is easy making it the perfect sister city to HSV and thus I believe powerful from an investment stance. Any growth in HSV directly takes Decatur with it.

I have a property management company right in the heart of Huntsville. And when I moved here my first assumption was that Hazel Green was too rural or just too far out to get good rents.

I learned within the first year managing properties in all the surrounding areas that I was very mistaken. Not only is it not too much of a commute for most renters, it is actually a preference by a sizeable portion of the rental pool. What I thought was too rural, to many is exactly what attracts them to there.

Just yesterday I was speaking with a potential tenant who was saying he needed a place but did not what to be within city limits. Some like the lower regulations. Some like the country/laid back feel. And others want a big yard for the family and to not be 15 feet away from the house right next to you.

Now, that's all fine information. But what does it mean when it comes to rent? I've learned the following for this area:
1. Demand is indeed lower outside of the city like in Hazel Green
2. The Supply in Hazel Green is very low
3. Which means that point 1 & 2 make rent prices significantly higher than I expected them to be in a rural area.
4. The Rental Pool that does want to be there is willing to pay to get into the low supply that is available.

In summary, I have found that my initial thought was wrong about Hazel Green. It provides a lower cost of entry than a property in the city but not at the expense of much lower rent. I find it very comprable to the investments my clients are making in the city when it comes to Cap rate, etc.

Great question and good luck to you with growing your portfolio.

That is in line with what I am seeing. I calculated a deal just yesterday that came out at 7.9%.

@Shakir Elvin

Hi Shakir. We are the fastest growing full service brokerage in town.

We focus specifically on Investors. Speak the language. Run the numbers. Etc.

We have agents, property management department, corporate housing department, and a remodel department.

We take what BP refers to your "Core 4" and bring it down to your "Core 2." The other being a lender which we can set you up with.

Message me privately and let's talk about your goals and see how we can help.

Matthew McDermott

Bedrock Income Properties

@Myron Fletcher

Got it.

@Myron Fletcher

Send me a dm, we might be able to help.

Awesome job. Those look like great numbers and your speed was incredible. I think this is the absolute best place in the country to buy and hold for everything that is happening and going to happen. Congratulations!!

@Dennis N.

Welcome Dennis. I'm the Owner/Broker at Bedrock Property Management in Huntsville. I've heard of you guys but never knew anything about you personally. Thank you for your service for us and our country. Can't respect that enough. Would love to meet you sometime.