Good evening, I am an investor doing research in the Birmingham Market.
Looking for C+ to B neighborhoods with fixer upper multi family properties ranging between 40 to 80k. What neighborhoods should I be looking into and what is the current market like in Birmingham, AL? Does this criteria exist in these types of neighborhoods? I'm looking to BRRRR a property. Thank you for your help!
We have a very low multi family inventory. I assume you're looking for 40-80k pre-rehab, correct? And at that price point probably duplexes or triplexes?
The neighborhoods that have multifamily here I don't think I would qualify as C+ to B (though everyone uses the A-D or A-F spectrum differently). A lot of people think Eastlake will continue to gentrify, but it's a gamble. Center Point is kind-of going downhill, or maybe just becoming saturated with investors. Tough to sell retail in there, almost everything is a rental. Both of those neighborhoods you might classify as C.
Let me know if I can help further.
those numbers fit single family property here in birmingham but not so much with multi-family.
@James Rodgers is pretty spot on imo.