All Forum Posts by: Andrea P.

I live in Italy.

I rented my SFH in Huntsville since 2011 with

http://www.rosenblumrealty.com

No problem so far.

  @Samantha Soto, please consider me as beginner. In the place where I live (and I was born) we have concrete houses only. Just buying a wood house was pretty strange to me.

By working hard, you should buy houses below the market value (i.e. foreclosure and/or rehab), in this task the local investors are obviously advantaged. 

The higher the house value the lower the ROI, since the higher income people have more chance to get mortgage. This is why they are not willing to rent (low ROI).

The lower income people rent because the bank do not lend them money, so they are willing to rent (higher ROI) since they have no other options.

In my opinion Huntsville is a special case because it is populated by a lot of military (due to the Redstone arsenal). They live just few years there, then they are willing to rent because they stay there for short time (or just they have no long term plan). This should push the rent demand (high ROI). Furthermore they have government steady salaries (low risk).

It is a matter of the risk and the effort you could take. 

Since I live in Italy I could not afford a high risk, A travel to the US could cost me thousand dollars.

Since the US real estate is not my core business, a lower ROI and having an asset in foreign currency is fine for me. Finally I work few hours per year for the tax return.

My property manager get 10% of the rent, he is not willing to manage the property rented for lower than $900-$1000. Since he should deal with low income/problematic tenants. He explain me an eviction costs at least $600 + all the opportunity costs (vacancy).

I try once to arrange a backyard maintenance from Italy and finally I understood that it was better/cheaper to leave the task to the PM.

As a general rule the higher the rent the lower the issues. Every issue should be an extra-effort for the PM and an extra-cost for you. Finally I agree with the PM in not having low income tenant.

I payed the property $104K and I rent it for $975. It is not a great deal, but I had 15 days of vacancy in 5 years and the most expensive issue was $600 for the roof.

@Samantha Soto actually Madison, AL 

I have StateFarm for $129K SFR the payment is $771 per year.

I got it with local agent.

I am out of continent investor. I left the house in Huntsville 5 years ago, totaling 15 days vacancy.

Due to the long distance I opted for lower risk (low ROI) SFR $104K for $975 month.

The weak Euro and stronger Market prevent me to invest Further in the US.

I think Huntsville has good ROI and low risk.

There are a lot of people (military) living there for few years. They have a good job but they are unwilling to buy due to the short period of time they expect to spend in Huntsville.

I have a rental SFR in Huntsville. I left it in 2011. 15 days of vacancy. It is managed by Rosenblum

I live  Europe and I have a house in Huntsville since 2009.

I left the US in 2011 and immediately I rented out the house I had just 15 days of vacancy until now.

Right now the Euro is weak so the rent is virtually increased.

I am an Italian who spent few year in the US.

Friendship in Italy are like the money in the US.

I trust in my Property manager in the US just because I pay him and he has local competitors. Rather than trusting in the PM itself, I trust in the competition among them.

In Italy (especially in the south) you could trust in a PM just in case you intimately know him. You have to trust in the person not in the market.

That is my very personal opinion.