Real Estate Broker · Bradenton, FL · Member since 2017 · 544 posts · 363 votes
Real estate markets in New York, California, and Washington, DC have had a huge run up. Have you thought about transitioning your portfolio to a better cash-flow market?
Perhaps you live in San Francisco or Los Angles and you've been priced out of investing locally?
Here's an opportunity to buy a 5 house income portfolio in the cash-flow powerhouse of Birmingham, Alabama.
Price: $225,000
Gross Annual Rents: $42,720
Cap rate: 9.97%
Cash on cash return: 22.59%
4 units are paid by section 8 HAP contracts, 1 is open market rent. All have long term tenants (5 years plus on average.)
They've done small things like new carpet, paint, etc. On the whole they are in good condition, but could require a small rehab of 3k-5k if a tenant moves out.
Since they are all currently rented there are no major fixes to be made. The owner has done a good job of addressing issues as they occurred.