All Forum Posts by: Scott Doyen

Hey Terri, I also live in the Sacramento area! Good to meet you. I invest out of state -> Huntsville, Al. 

If you have any questions about Huntsville, feel free to Direct Message me! 

Totally agree with Sean! ^

Yes it’s strange that it is not as discussed as much on BP but I assure you the competition is there. Every deal I’ve looked at that fits my criteria is gone within a week. Sometimes off market within a day or two. Not sure right now with what’s going on if that is still true but definitely for 2019. One issue is the lack of inventory. You will notice other bigger cities like Indy or KC get a lot more attention (also good cities). 

As far as Price to Rent Ratios, it depends on the area. I mainly do B class outside of the city proper and generally aim for minimum 0.9%. Again these are harder to find and generally require some light rehab (5-10k). Within the city proper I’m not so sure. Some areas you can probably achieve 1% or higher but depends on tenant class. If you are going to be owner occupant you already have a huge advantage and I would target some property whereby you can put in sweat equity - whether that be Multi or Single. 

I am a fan of Huntsville. Good jobs, good schools, pretty good weather. The prices on the homes are very affordable and Price to Rent ratios work better than other cities. I'm mainly in the SFH space there so can't speak too much about the MFH, but I'm sure there are great options for you if you plan to house hack.

Very interesting comments. In my opinion, it’s still too early to tell what’s going to happen. I side with @Jay Hinrichs that if some real estate crash were to occur, it won’t happen in a matter of weeks. Due to many investors/homeowners taking forbearance, it’s likely to be a while before the impact is shown on the market. 

As investors we should be in it for the long term and if anything, this reminds us to have sufficient cash reserves (6 months+) and not be over leveraged. Some opportunities surely will present themselves with less competition but I am personally hesitant. I’d rather take this time to learn, retool, and build up cash reserves as too much is in flux currently, but everyone’s different. Stay safe!

Yes my partner and I have one SFH!

Good to hear! Best of luck - looking forward to seeing the after pics.

How is this going Gorden? Excited to see the results :) I am very fond of Huntsville! How has the rehab been affected by the lock-down situation?

Currently using @John White as my buyer’s agent. He’s very knowledgeable about the area and started out as an investor. Highly recommend!

For PM, I am currently using Dietrich Rentals. They generally focus on A/B class areas. Been using them to manage the property for about 3 months so far. Have had some hiccups with the property but they have been very helpful and responsive throughout!

Message me for any questions and I can share my experience.

@Account Closed Thanks! Yeah we will hang tight for now- we just contacted our Property Manager and they told us they will let us know if anything comes up. So far they have not heard back from tenants, but if our tenants are indeed impacted by the lockdowns/virus and can’t make rent, our PM will reach out to us and we are willing to listen and work it out.