huntsville investment homes

Huntsville Skyline
It is extremely difficult to find decent multifamily property in the MLS. What I usually find are properties that are overpriced or in marginal neighborhoods.
The link below is to the 41 available multifamily properties I could find in Madison County. With the exception of one or two that are overpriced, all are in declining neighborhoods. Except for the over priced ones, I wouldn’t consider managing any of the properties.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115325617
I keep seeing these same properties go on the market, eventually selling and then within a

Huntsville Alabama Downtown park
few months come back on the market when the purchaser realized his mistake.
Merrimack Mill Village is still a very risky neighborhood. There has been some renovation and there is the performing arts center and a few businesses. There is however a very high crime rate. At one time we tried to manage a property in the neighborhood as a favor to the owner. It was a huge nightmare. We did find one good tenant who broke her lease and moved after there was a rape down the street. The other tenants were unreliable and there was a high tenant turnover. Repairs and maintenance were constant both from the tenants and the age and construction of the property.

Huntsville Alabama Skyline
My preference is single family homes. It is more difficult to cash flow single family homes but appreciation, liquidity and ease of management is much better. I know this is contrary to your business plan but I have been approached by far to many owners who didn’t understand what they are getting into with multifamily investment property and came to us in desperation. We learned from experience that it was a poor use of our resources to try and manage low to modest income multifamily properties. We turn down two to three requests to manage multifamily properties every month.
If you were to consider single family homes my recommendation is to focus on schools first then commute time to Redstone Arsenal and Research Park and then availability of shopping.
I searched for properties that might be candidates and found one standout at the link below.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115325642


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Huntsville Alabama

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