HUNTSVILLE HOMES FOR SALE

Huntsville homes for sale; Profitable multifamily investment property in Huntsville is difficult to find. December 28, 2011
Filed under: Homes for sale in Huntsville AL,huntsville al homes for sale,Huntsville homes,Investment property in Huntsville — Philip Winburn @ 2:16 pm Edit This

Big fish at Guntersville Lake
I’ve worked with a lot of out of area investors looking for multifamilyproperty in Huntsville. One most be extremely cautious. Most of theavailable properties are in undesirable areas where it is very difficult tofind stable tenants. There is a high turnover and make ready costs betweentenants can be a cash flow killer. It’s rare that well priced properties indecent areas are posted on MLS. Most sales of desirable properties are aresult of word of mouth.
The other issue is finding hands on, consistent property management. Thereare few local managers willing to handle multifamily. From our perspectivethey are a poor investment of resources. It takes at least twice as manyresources to manage a $400 – $500 rental as it does to manage a $2,000rental. Our income from cheaper properties is a fraction of what we earn onthe larger homes.
There are only a handful of local managers that are taking on multifamilyproperties. It’s hit and miss on weather their clients are happy with theirservice.
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I do have friends who own a good bit of C class property Huntsville homes for sale that seem to have ahandle on managing them. They have a few properties listed, more that couldbe sold and indicated a willingness to continue management at least for atime. I’ve tried to convince them to do outside management because there issuch a need but they have their hands full with the properties they have andtwo sons involved in football and wrestling. Please let me know if you mighthave an interest in their properties.
I work mostly in single family properties. The cash flow may not be as goodas multifamily but appreciation, liquidity and ease of management are muchbetter.
Valley Mls, Huntsville Mls SearchValley mls, huntsville mls search; valley mls has limited features and can be difficult to use. If you have trouble or aren’t sure where to start just let us know what you are looking for and we will help. Http://www. Huntsville-homes. Com