All Forum Posts by: Samuel Coronado

Did you ever find someone? I'm looking as well. 

Ethan, what's this look like one year down the road?

@Michael S. and I are both locals interested to know. 

Hey, Ethan. I would be interested in this. I am local to Huntsville. 

Congrats on the new acquisition! 

What do the numbers look like month to month on this?

Congrats! 

I'm here in Huntsville and see the ground truth everyday. 

No. Just no. Huntsville is overbuilt and continues to be overbuilt. Several of the new apartments are offering all kinds of incentives because they cannot fill them. 

A lot of not-so-astute out-of-state investors are taking monthly losses just to hold real estate here. It's not the best situation for month to month cashflow, but there is a lot of institutional interest that may pan out in their favor. 

 I 100% disagree with that. I have clinical psychologists from Huntsville Hospital living in my MHPs because they're paying off student loans with a fury that would tickle Dave Ramsey. I also have a guy with 85-95k salary (mulligan on the 6 figure) with great credit that also lives in the park because he wants to be closer to family. These guys were vetted same as my Class A properties, but just live in a different mode where they understand getting a lower personal housing cost is in their favor long term, especially if they're young (35 and under). 

I did my first flip on a credit card at 19 years old. At 31, I still rely on credit cards a bit. It's a good time getting 0% at 12-18 months (Discover, Navy Federal, USAA, Independent Bank to name a few specific ones). I prefer this over the 2-5% origination points and 12-15% interest only payments from hard money lenders. 

 I have a 5 bedroom 4 bath in Huntsville I am looking to sell off market. I am the owner, not a wholesaler. 

The issue is not the Class of the property. The issue is people try to skimp on properly vetting tenants. I have people in a mobile home park who pay on time every time and take care of the properties very well. I've also had people in a nice house on acreage skip out and leave it infested with roaches. haha. 

Proper management cures most of these.