All Forum Posts by: Ryan Boltman

Thanks for the tips and advice all. If anyone knows of some good folks to connect with in any of the Key Markets for MFH (Cashflow) please PM me.

@Jeffrey Donis thanks for the insight I’ll look into these areas for sure.

@John Patton Thanks and agreed what I am seeing isn’t very promising I think I might need to look elsewhere or stick to SFHs in Birmingham.

@Evan Polaski thanks for the reply. I hear you and all good points. My concern is if I can’t find any inventory I don’t have much choice other than to look elsewhere. Hoping I find something but other than building something, not having much luck.

@AJ H. Thanks for the response and absolutely correct. I am looking for cash flow. Appreciation is a nice added bonus, but cash flow is the ultimate goal. In terms of immediate cash flow, that is always nice but if the market is good enough and the property won’t stay vacant for more than a month I’m ok with that. In terms of repairs etc, I am not looking at D grade or perhaps even lower C grade. I would say between B and C grade properties is the sweet spot for me. Nothing major needed just some paint, carpet etc.

The ultimate goal is to move up into larger multi family properties, but I don’t want to bite off too much just yet. That probably a 2-3 year goal at this time.

Peeps, hope all is well and you are all snapping necks and cashing checks. I have closed and found a tenant on my new Calera, AL property, so far so good.... I am looking next to buy a duplex, triplex for fourplex. Birmingham seems to not really have any real options for multifamily in terms of inventory from what i can see.... i have my broker looking but i am not convinced there is much out there. My questions are:

1. What are your thoughts on Birmingham AL for Multifamily and if good what are your suggestions on finding some good deals?

2. If like me and you think i need to shift my gaze elsewhere, what are the top 5-10 cities you would focus on for Duplex, Triplex, fourplex?

As always appreciate the time, guidance and collaboration.

Cheers

@Ravinell Wilson thanks, please PM the details of possible.

@Alicia C. Excellent news congrats!!! I am just about to close on my Calera SFH in the next few weeks. Agreed seems like an up an coming area. Hopefully I get it rented quickly.... once rented it's on to the next property!! 💪

@John Patton thanks for the insight makes me feel better about the decision. Got it, so it’s the homestead exemption that driving it up. Makes sense

Well folks i was contacted by a wholesaler and boom got a property the next day in Calera. Seems to be a good neighborhood, Cashflow seems decent. A few questions i have you the peeps out there...

1. What are your thoughts on time on the market for rentals right now there? i hear its about 21 days if priced right... but i do see a few there that have been sitting for over 30 days.... making me a little nervous.

2. Any thoughts in General about Calera, AL? Seems like a nice little town apparently a good school district, not too far from the CBD. House is new (built in 2019). I am excited but anxious at the same time as an out of state investor.

3. I was told property tax is pretty affordable. I checked and in Shelby county its about 0.5%. For some reason the property i am purchasing is around 1%... the sellers Agent told me that its due to it being an investment property that the taxes are higher... i am searching high and low to find this on the internet and cant..... is this true? I plan to call Alabama revenue tomorrow to verify.

Sorry for the long post any thoughts appreciated.