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All Forum Posts by: John Patton

John Patton has started 9 posts and replied 301 times.

Post: Home insurance for a rental property

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

@Anjesh Dubey

I just changed to Auto Owners. I also recommend using a broken. I quit State Farm 8 years ago.

I also have about a large deductible of about 4200. I figure I can self insure that with a line of credit oh my personal home. Good luck.

Post: Buy over priced Sfh now or wait

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

I have a Sfh under contract to sell which I bought 10 years ago in C neighborhood. After purchase and 2 rehabs, roof and a/c. I will end up with about 50% appreciation.

Question is do I do a 1031 exchange with low inventory or pay about $8000 in capital gains. Or wait for the foreclosures to come in the next 4-10 months with cheaper home prices.

In other words pay taxes now get better prices or HOPE I get lucky and find 3 B+ home in 45 days that are reasonable priced. Thanks

Post: Real estate investing in Birmingham Alabama

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

@John Patton

Also run from Center point,Tarrant city and bessemer.

Post: Real estate investing in Birmingham Alabama

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

@Eli Alon

Stay away from Birmingham schools.

Jefferson county schools are ok.

Better appreciation and lower taxes and lower insurance in Shelby county and St Clair county. Good luck.

Post: Homeowners insurance deductible

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

My current deductibles are $5000 in order to keep costs down.

I have 4 C class homes worth 100k each that cost more than 100% more than a 3 year old home in a B class in different county.

Any thoughts. Thanks

Post: IDEAS FOR RURAL LAND ALABAMA

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

@Jacqueline Kinkle

What county?

Post: Birmingham AL, Clubs or Groups

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

@Nicholas Voge

www.Aia club.com

Post: Birmingham beginning to disappoint

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

@Ryan Boltman

I bought a property in Calera 3 years ago. Very pleased.

In reference to taxes, the reason you have to pay 1% is because you can’t get a homestead exemption.

However the homeowner insurance is half of homes I have in 35215.

My Calera house valued at 160k costs me 2350 a year in taxes and insurance.

Homes in 35215 valued at 90k cost me about 2100 in taxes and insurance.

Good luck.

Post: Finding boots on the Ground

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

@Lamar Washington

Follow the schools. City of Birmingham no. Center point is terrible for landlords. Bessemer No.

Check Jefferson county schools.

I love Hueytown and Shelby county and st Clair county but they aren’t cheap. You get what you pay for.

Good luck.

Post: Finding boots on the Ground

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

@Lamar Washington

Are you sure you want Fairfield. Even Walmart left there 8-10 years ago. I want even drive thru there and I used to hang out there 50 years ago. Good luck.

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