I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.
Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.
My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.
I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…
