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All Forum Posts by: John Patton

John Patton has started 9 posts and replied 301 times.

Post: Thoughts on this Deal?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

Boys, you have at it. That area is the wild wild west. Ride um cowboy ...........................................JP

Post: Bundle of 19 Birmingham SFR homes, ​Occupied and Cash Flowing

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

 Wow, Man you must have an amazing PM to get that money out of that property in that area of town. They shoot and steal over there. Good luck JP

Post: Have to be a licensed contractor to Flip?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

They want their pound of flesh or as they say permit money. Had these few weeks back. Tile man was ready to come in. Forgot to get ask my plumber to get the permits for all his work and ended up pushing back tile man 1 week until inspection. Good luck JP

Post: Thoughts on this Deal?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

Chris, run don't walk  from this area. The live bands at the Oporto Armory have long gone as well in this area. LOL. Next time you are looking at something in Birmingham, I would be glad to do a drive by.

Good luck. JP

Post: Thoughts on this Deal?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

Just studied the picture. I bet these duplexes are on 77th street south or Oporto - Madrid Blvd. Just guessing with 4 lane busy highway. Just a thought... JP.

Post: Thoughts on this Deal?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

What's the address? Neighborhood may be ok or maybe its in a crime area which is were you don't want to be. I have a home in a great B- area but is within 200 yards of bad apartment complex with a creek in between but bad folks still walk the street. You need to have some one ride the area between 11 am and 1 pm and you will have a better idea. I look for how people keep their yards and their cars. One block can make a huge difference. Just my thoughts. Good luck JP

I believe you. Have a house in Hueytown that requires paid garbage service. I paid first year but passed it on to tenant the next year and explained the reason. No problem. Even if it was, I would not let $120 year or so from keeping property from being trashed. Just my thoughts. Good luck JP.

Post: Birmingham AL market

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

I can eyeball it for you and let you know my take on the neighborhood, value ( in my mind) and rent. Now I am old school. Stay away from any address with SW Or West. Good Luck JP

Post: This is going to go really fast at this price (28K!!)

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

what is exact address?

Post: Lease expiration coming.

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 206

I have leases that last 2 years. After the 2 years the lease is year to year ending in early summer. I do not go month to month after lease expires. We have either a 1 year or 2 year lease, that's it.

As far as keeping the tenant on the property, if they keep the property up and they do what their are asked to keep it up and they are paying with the late fees, I say keep them. You know what you have in hand and you don't know what's in the next tenant. The cost of changing tenants could cost you as little as $500 or as much as $2500. Is it really worth it?

If you notice the late fees come around Christmas and the start of school. Plan for it and expect it.

Good luck JP