All Forum Posts by: Joseph M.

Did a quick search on apartments.com and see places renting in Birmingham as low as $400 month I found an article from a few years ago saying Birmingham was the most affordable market in America . How much have rents gone up since then? https://www.al.com/business/index.ssf/2015/03/birmingham_is_the_most_afforda.html In L.A and CA there is a lot of talk of affordable housing , some of these new development projects have some “affordable units “ set aside but I think it’s always going to be kind of like winning a lotto . There is just way too much demand . The politicians make promises of “affordable housing for all “ but it seems to be the carrot they use to get people to vote for them .

People that have made more in the stock market will likely say the stock market is better and those that have made more in real estate will say real estate is better . As far as sub2 deals where one can earn over $70,000 in equity in 17 hours , I don’t see why the seller would go for that if it’s a not distressed deal . Sure there are no realtor commissions but even the commissions wouldn’t add up to that much .

@Nathaniel Lofton OTR is a really interesting area , used to have one of the highest rates of murders but has really turned around , never been there but read quite a bit about It . Seems to be a lot of really hip bars and restaurants there now and the lofts .. reminds me of the downtown L.A renaissance in a way . Does the loft cash flow pretty well ? Prices seem really high there now . Do you rent it long term or short term on Airbnb etc ?

@Marisa Rowe Is that property in Detroit in a neighborhood that seems to be changing ? I know Detroit has been turning around from what I’ve heard .

Also there already is a resort with that name with almost 4000 reviews on TripAdvisor . What’s the syndication opportunity ? A value add deal to turn it from a 5 star hotel to the world’s first 10 star hotel ? Lol https://www.tripadvisor.com/Hotel_Review-g293734-d2554306-Reviews-Pullman_Marrakech_Palmeraie_Resort_and_Spa-Marrakech_Marrakech_Tensift_El_Haouz_Region.html

What are the numbers ? What price have you discussed ? What is the after repaired value and what would it take to get the house into condition for after repair value? 

@Account Closed

Yeah I have heard of amounts of $75,000 or so being offered and even turned down in L.A. 

What you said makes a lot of sense since you paid $35k but gained $300k in value after remodel . 

Was this a new property or one that you had for a while and decided to buy out the tenant ?

@Michael Plante

Interesting and creative strategy!

@Michael Plante You are able to bring in $1000 cashflow after expenses on $50,000 cash investment in FL these days ? Or maybe I read it wrong .

As far as savings account best I’ve found is ascent from customer’s bank. Need to keep a $25k minimum, pays 2.25% .