All Forum Posts by: Greg Parker

I have put it over parquet and hardwood on slabs.  Might want to confirm with a flooring guy.

I have put LVP on 200 slabs.  Never had any issues.  I love that stuff.

If the floors look good but just smell bad, have a floor refinisher take a look.  My guy uses a commercial buffer(not a sander) to slightly rough up the surface.  Then go back with 1 or 2 coats of poly to seal it.  Probably $700-$800 for that house.

Plan B, leave the bamboo, put LVP right on top of it.

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.

2. Alabama

• Effective Property Tax Rate (2019): 0.37%4
• Typical Home Value (2022): $189,9766
• Annual Taxes on Home Priced at State Typical Value: $702.9

Right, the list of things to maintain and/or replace is never ending; rugs, AC filters, light bulbs, water filter in fridge, detector batteries, pest control, coffee maker, stove eyes and pans, silverware, bowls, glasses, sofa cushions, pillows, blinds, brooms, mops, vacuum, brushes, shower curtains, bath mats, beach towels.  Anything metal that is outside will need to be oiled or protected monthly from the salt air, door hinges, doorknobs, gates, hooks, handles, bikes, light fixtures, chairs.

AirDna seems to be the goto place for rather accurate data.

My STR on Dauphin Island generates about 50k yearly. That is if you don't take any of the good weekends for yourself, like I do. If so, knock that down to about 40k income. If you live far away and use a property manager, deduct 20% from that. So, you are at 30k. HO insurance 6k, flood 6k, propety taxes 3k. That leaves about 15k. Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out. Utilities, is a big one(5k yearly). Be sure to have an AC you can control by app. Every guest seems to think its ok to leave every door open when it is 95 degrees outside and then put the AC on 60. I have door alarms that start beeping after the door has been open more than 30 seconds. The guests will call and ask "why have all of the doors been beeping for an hour"? Read the note beside the door knob, "door alarm will beep if not closed within 30 seconds"....lol.

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.

2. Alabama

• Effective Property Tax Rate (2019): 0.37%4
• Typical Home Value (2022): $189,9766
• Annual Taxes on Home Priced at State Typical Value: $702.9

The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022. The metro area population of Montgomery in 2022 was 367,000, a 1.94% increase

Residents and large corporations are attracted to the State of Alabama's pro business climate of low taxes and Sun Belt weather. Montgomery is situated right in between the major cities of Atlanta, Birmingham, Mobile and the pristine beaches of the Gulf Coast. There are major manufacturers and distribution centers as local economic drivers that help support a high quality of life for its' residents.

Montgomery, Alabama is centrally located and perfectly positioned in the Sun Belt. The Alabama State Capitol in Montgomery is located 153 miles from the Atlanta, Georgia International Airport along Interstate 85. Birmingham is a short drive to the north of 92 miles while the port and surrounding City of Mobile is 169 miles away. Some of the countries finest beaches including but not limited to Pensacola, Navarre, and Destin are 3 or so hours from Montgomery for easy weekend trips to the waters of the Gulf of Mexico.
The City of Montgomery is the Capital of Alabama with a robust economic environment that has produced multiple awards of excellence at the Chamber of Commerce level. As consecutive Mac Conway Award Winners for Excellence recipients, Montgomery is well positioned through their "Imagine a Greater Montgomery" initiative to re-shape the city vision. The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.

Back in 2020, BiggerPockets also did an analysis with similar results. It found the five most landlord-friendly states to be:

1. West Virginia
2. Arkansas
3. Louisiana
4. North Carolina
5. Alabama

Yep, get the HELOC. Use the cash to buy a property, get it rented. Refi with a DSCR to pay back the HELOC. Repeat.

Find a local wholesaler and/or Realtor that works with investors.  And, are also investers themselves.

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.

2. Alabama

• Effective Property Tax Rate (2019): 0.37%4
• Typical Home Value (2022): $189,9766
• Annual Taxes on Home Priced at State Typical Value: $702.9

The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022. The metro area population of Montgomery in 2022 was 367,000, a 1.94% increase from 2021.
In a number crunch of 300 cities using 10 metrics ranging from home prices to tax rates to vacancy levels, WalletHub determined that Montgomery, Alabama, was the nation’s most affordable city for homebuyers. Rounding out the top 10 of affordable homeownership cities were Flint, Michigan; Toledo, Ohio; Detroit; Akron, Ohio; Warren, Michigan; Pittsburgh; Yuma, Arizona; Springfield, Illinois; and Palm Bay, Florida.

I can put you on my list for Montgomery, AL properties.