Looking to do my first BRRRR
I am looking to do my first RE deal. Despite its inherent risks I'm looking to do a BRRRR strategy because I do not have the capital to put down. Ive looked at a few areas and settled on Birmingham, Alabama.
Here's my ideal deal
Holding costs for 6 months: $8000 - estimate for interest & utilities.
All in $105,400
ARV: 145,000 to 155,000
Here's the question(s):
1. Does anyone have any experience in this city, and know if these numbers are possible?
2. Are there any areas in Birmingham, Al that I should consider/ Avoid?
3. Feel free to recommend other cities as well.