New Investor In Birmingham, Looking to Connect

New Investor In Birmingham, Looking to Connect

Matthew HeckmanPro Member
Investor · Member since 2024 · 21 posts · 19 votes

Hi all,

I'm looking for my first rental in the Birmingham area, and am working on building a strong local team. I would like to connect with investors and investor-friendly agents in the area, especially those who have familiarity with JCHA/HABD housing authorities and BRRRR experience here.

What I'm looking for:

Agents who:

- Work with investors regularly and can pull off-market leads, expired listings and comps

- Know which neighborhoods rent well to voucher tenants and can give honest ARVs

- Are comfortable writing aggressive offers on fixer-uppers

Investors who:

- Own Section 8 rentals in Jefferson County and are open to a call

- Can share what has and hasn't worked for you

A few questions I'd love input on:

1. How has your experience been with the Jefferson County Housing Authority (inspections, how long until rent starts, payment standard increases) compared with the Birmingham Housing Authority?

3. Who do you trust locally for contractors, property management or DSCR lenders

4. What are typical rehab costs per square foot for a rental-grade rehab in Birmingham right now?

Feel free to reply here or send me a message so we can connect. I’m happy to share any research or information I have as well to return the favor how I can. 

Thanks in advance!

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  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 931 votes
    13h
    Quote from @Matthew Heckman:

    Hi all,

    I'm looking for my first rental in the Birmingham area, and am working on building a strong local team. I would like to connect with investors and investor-friendly agents in the area, especially those who have familiarity with JCHA/HABD housing authorities and BRRRR experience here.

    What I'm looking for:

    Agents who:

    - Work with investors regularly and can pull off-market leads, expired listings and comps

    - Know which neighborhoods rent well to voucher tenants and can give honest ARVs

    - Are comfortable writing aggressive offers on fixer-uppers

    Investors who:

    - Own Section 8 rentals in Jefferson County and are open to a call

    - Can share what has and hasn't worked for you

    A few questions I'd love input on:

    1. How has your experience been with the Jefferson County Housing Authority (inspections, how long until rent starts, payment standard increases) compared with the Birmingham Housing Authority?

    3. Who do you trust locally for contractors, property management or DSCR lenders

    4. What are typical rehab costs per square foot for a rental-grade rehab in Birmingham right now?

    Feel free to reply here or send me a message so we can connect. I’m happy to share any research or information I have as well to return the favor how I can. 

    Thanks in advance!

    You're doing the right thing by building the team before buying. For a first rental, I'd focus on the numbers, realistic rehab costs, and having a solid PM and contractor you can trust. I'd also keep out-of-state on the table if Birmingham deals aren't penciling. The Midwest has some lower entry-price opportunities for BRRRR and Section 8, and having the right boots on the ground can make investing remotely a lot easier.

  • Austin GoetzBusiness Member
    Lender · Minneapolis, MN · Member since 2026 · 22 posts · 6 votes
    12h

    Hey Matthew,
    DSCR can be a great way to get into an investment property. 15% down payment is the minimum requirement but in some cases it can be higher like 20% or 25%. Those loans are normally going to come with prepayment penalties. If you can qualify using traditional financing, I wouldn't rule out qualifying based upon your income. You can typically get better interest rate financing that way. If you have any questions about nuances of DSCR, qualifying or want to run through the numbers I am happy to be a resource for you as someone who has experience lending all over the country. Feel free to reach out.

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