All Forum Posts by: Jeremy Galloway

@Jamie O'Brien

Hi everyone, 

Had a lead come off of my website about a condo they are wanting to sell off the MLS for about $215K. The condo is south of Birmingham, Alabama in an affluent part of town. It has a renter in there until May '18 (maybe just when the lease is up). The owner has asked the renter to lease option but the renter doesn't have the credit to gain a loan for the property. They have owned the property since 2007 and paid $218K for the condo then. It looks like the prices sold in the condo area is stalled around $200-220K. It's a 3/2.5 and is only 10-year-old house/neighborhood.

The reason for selling the property is that they just had a baby and they don't want to worry about the property... he is managing it own his own. 

I am meeting the owner this afternoon to get some eyes on the property but before I go I would like some insight from the group on other information to gather. Issues to be aware of since it's being rented out until May '18 (inheriting a renter)

What different strategies can I give the owner, so I can gain the property if I want it? I was thinking about lease optioning it, taking on the mortgage payment, subleasing it to the current tenant, and giving them a 2-5 year option on the lease. Would I also consent to perform the management of the property as well?

THANKS EVERYONE!

B.S. in Biomedical Sciences and Masters in Exercise Physiology. Both from Auburn University! War Eagle!

Birmingham- Mark Branson http://www.bhaminspectionpro.com/

He has inspected a home for me personally. No issues with referring him. 

@Jamie O'Brien 

Coleman Construction in Pelham, AL . http://colemanconstruction.net/

Let David know that I referred you! 

@Xavier Taylor I would say online vs actual classes would depend on you. I don't have the time/schedule to fit in a classroom session throughout the week, and I can knock it out quicker doing an online course as well. If you need the classroom setting, you probably would learn better as well. 

https://arec.alabama.gov/apps/SchoolStatsWF/defaul...

Look at the website above to see what would be a good fit for you. 

I'm looking at getting it done in the summertime here in Bham. 

Also, some places will do a cram session the week/weekend before you take the exam to make sure you are ready. 

Real estate licenses? Are you doing an online course or classroom pre-licensing hours? 

There is quite a few. Is there any particular towns/districts that you are shooting for in Birmingham... Like a top 3 or 5?

War Eagle Jake! I agree with @Donnie McGriff, connect with @Helen Kirk there in AU/Opelika. Have you started doing any rentals since it's college town?