New member introduction

[Alex Saidenstat]

Hey everyone,

I'm Alex, a 43-year-old investor with a credit score of 767. I have around $100K in liquid capital and access to a $50K HELOC at 6% for the next 10 months before it transitions to a variable rate.

I have a unique situation where I earn a living through sports betting, which limits my ability to show traditional income growth. Because of this, I’m looking for investment opportunities that maximize my current capital and financing options.

I'm considering investing in Birmingham, AL, where I’ve found several SFHs in the $30K–$40K range that I believe I could rehab for about $25K and rent for around $900/month. I currently live in Wilmington, NC, so Birmingham would be about an 8-hour drive for me. While I’d love to invest locally, most properties here are beyond my price range.

Right now, I’m compiling a list of potential properties, underwriting deals, and reaching out to Realtors. I’m planning a trip to Birmingham in the next week or so to meet with agents, build my network, and hopefully find my first deal.

If anyone has experience investing in Birmingham or has recommendations for agents, contractors, or lenders, I’d love to connect! Looking forward to learning from the community.

Thanks!
Alex

[Jay Hurst]

Quote from @Alex Saidenstat:

Hey everyone,

I'm Alex, a 43-year-old investor with a credit score of 767. I have around $100K in liquid capital and access to a $50K HELOC at 6% for the next 10 months before it transitions to a variable rate.

I have a unique situation where I earn a living through sports betting, which limits my ability to show traditional income growth. Because of this, I’m looking for investment opportunities that maximize my current capital and financing options.

I'm considering investing in Birmingham, AL, where I’ve found several SFHs in the $30K–$40K range that I believe I could rehab for about $25K and rent for around $900/month. I currently live in Wilmington, NC, so Birmingham would be about an 8-hour drive for me. While I’d love to invest locally, most properties here are beyond my price range.

Right now, I’m compiling a list of potential properties, underwriting deals, and reaching out to Realtors. I’m planning a trip to Birmingham in the next week or so to meet with agents, build my network, and hopefully find my first deal.

If anyone has experience investing in Birmingham or has recommendations for agents, contractors, or lenders, I’d love to connect! Looking forward to learning from the community.

Thanks!
Alex

 Be careful in Birmingham. Lot's of sharks in those waters. We have and do lend in Birmingham and have seen lots of folks buy 45k houses put in 30k and expect them to be worth 120k-130k but they are actually worth 80-85k.  Understand the neighborhood and understand what makes a house go up in value and what just makes a house livable.