All Forum Posts by: Jeremy Galloway

 I'm not sure if the 90 days grace period is required. The listing agreement (state specific) would have the details of the "grace period". It could be 0 days possibly if that is how it was written. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $175,000
Cash invested: $175,000

Triplex has $575 for Unit A 3/2, $750 for Unit B 3/1, and $700 for Unit C 1/1.

What made you interested in investing in this type of deal?

Cashflowing triplex and it was under the 1% rule.

How did you find this deal and how did you negotiate it?

On the market. Since I am a Realtor, I was able to make concessions that other buyers couldn't make.

Another week of investment opportunities in the Birmingham metro area of Alabama. 

Offering a quick video rundown and also a link to the last 45 days of potential opportunity 

See more properties here- Weekly Properties in Birmingham

Offer any feedback on this sort of marketing and if you are a Realtor looking to refer someone to this market, please DM for questions. 

Thanks, 
Jeremy

@Mark Davis I'm not seeing the link to Graymont Ave working for me. Could you resend it? 

Hi everyone, 

I pull data from the Greater Alabama MLS (Birmingham) every Monday and I send it through my list. If you are interested in getting on-market deals that are either below value and/or great rental rates, click the link below where I go over these properties.

Weekly Properties in Birmingham

Thanks!

Jeremy

Evernest- https://evernest.co/

Hunter Krug [email protected]

Signal Properties- https://www.signalrents.com/

Mark Byers- [email protected]

Morning All!

I would go to a site like this to confirm flood issues- https://alabamaflood.com/map It's what I like to use on properties especially off-market where the flood zone doesn't get disclosed. 

Poverty and crime rate- I think @Account Closed insight into the petty thief and break-ins is pretty spot on. Occupied houses won't have those same issues as occupied. 

Growth possiblities- Huntsville metro will probably be taking the #1 spot for population soon, but there are still a large healthcare system here in Birmingham (UAB), manufacturing, and facilities that are still coming to the metro area. I don't see the rental market drying up any time soon. As for the appreciation aspect of it, probably won't see it in the C-class neighborhoods here (you are buying it for great cash flow). We are way behind new construction here in Birmingham and with about 2-3 months of inventory, the appreciation of the B and A class neighborhoods are going 12-18% YoY pricing. 

I feel that Birmingham will always be a favorite at the national level for out-of-state investors and the returns they will provide in housing. 

Here is a list of "portfolio lenders" here in Birmingham that I've either used or have been recommended by other investors locally here.

Central State Bank- Susie Waits (205) 605-0350
BancorpSouth David Salter 205-602-7163
Eva Bank Stephanie Linstrom 205-422-8863

@Ken M Middleton I don't have any contacts available for P.C. sorry

@Chino Perez Birmingham is still rocking and rolling with rentals. You can find ROI about 15-18%. There are already properties that are section 8 for sale. If you want to turn a property into a Section 8, need to find a contract and a PM that knows how to get a house ready for section 8. From what I can tell, there are more renters than there is section 8 housing here in the Birmingham Metro.