All Forum Posts by: Account Closed

I like Indianapolis and Birmingham for the lower purchase prices compared to the other cash flowing markets. Helps newbies like us get more bang for there buck with limited funds. I like other markets too and will eventually move into them but this is where I got my start for now and so far I have no complaints.

Matt M. Find a few Mentors and take notes! Local investors in the area of interest love to help newbies out and talk shop. Then you buy them dinner :) Also read BP forums and Podcasts every night. No joke! If you don't enjoy these readings and podcast regularly then perhaps real estate investing is not for you. It takes commitment and passion to make it in this game. Some got it and some don't! At least that's what I think from my 8 months in as a real estate investor.

@Kevin Trumbull best place to find what class a neighborhood is is to determine it yourself. Do the research and make your own opinion on the property class. Crime rates, vacancy rates, poverty rates, rents, purchase prices, the quality of the homes, the supply and demand of the areas, and many more can all be found online and pieced together to classify a property. The local investors are also a good resource to confirm your research. But ultimately you should be the one deciding the class. Trust nobody and don't believe everything you read on some online rating tool!

My advice is: 1)choose a market/markets that work for you. (Cap rates, location, weather, economy, ect) 2)research what the best options are for that market (ex SFH vs Multi Family, C vs B class, ect) * multi units not recommended for beginners 3) establish your team. Lenders, insurance, agents, turnkey, property management ect. 4) start slow and educate your self every step of the way. Lots of help here on BP for that.

biggest lesson here is don't invest in D class nieghborhoods.  Strong C and B only.  

Probably need to be more specific. I wish it was that easy to put a post like this and start making money.

I did this back in November and this is what happened. Once the HELOC was finalized my credit score went way up as a reflection of a credit increase. Then when I eventually used up all the credit it dropped a bit. So overall it only dropped my score like 5 points. What I did though is bought 7 properties using the HELOC as down payments on the loans and locked in all these great rates these days. This way I don't have to wait for any seasoning period and can start a great cashflow immediately. It will take years to get 7 properties from using the entire HELOC on one property and then refinancing it 6 months later. Just a suggestion... Both ways have its pros and cons

So me and the wife just completed our trip to Birmingham and thought we would share our experience and thoughts. Birmingham is a small city but you would never guess from the way it is spread out. The terrain is beautiful with lots of tree lined streets and hills throughout. Seems like lots of action going on downtown. A new ball park was built recently with lots of revitalization going on around it. From store fronts to hotels and condos it seems like something is being rehabbed on every block. A new area of restaurants in what's called Uptown was very impressive as well. The BBq in Bham is no joke. From Saws, to Jim and Nicks, Mug Shots and some oyster house in the NW side all were amazing. The huge medical center was unreal. They have pretty much an entire building for every specialty and a beautiful campus that is obviously one of the major industries in this market. The C class neighborhoods really aren't all that bad in my opinion. Some streets were cleaner than others but all in all "not to shabby." Like everyone says you can see the little pockets in there that really pop. Depending on the rehab job and who you got managing your home it might work. I could see some cool little streets that seem to be making a comeback. The rehabbers in these areas are truly doing a good deed for their community and I'm excited to see what happens in these areas in the future. There seems to be one hot spot for the B class properties and that is clearly Center Pointe. But even Center Pointe can be a little street by street to some extent. Generally speaking though they are all great looking homes with awsome curb appeal and large private backyards. It's very quiet and peaceful throughout. Lots of trees and hills that gives it a sort of upper class feel to it. You can see a rehab going on on every street, or streets that have been completely rehabbed in its entirety. Definitely lots of action in Center Pointe. In my opinion it seems like Birmingham as a whole is moving in the right direction. All the construction and revitalization that's clearly seen first hand has got to mean something. Seems like the hedge funds have established a presence, decreasing supply and increasing demand which hopefully would give Bham and chance for appreciation and increase in rents. But even if this doesn't happen the homes are still cheap enough to make some great cash flow and that makes me happy. Thank you Birmingham for the great experience. Now hopefully you can make all the rehabbers, realtors, managers, and of course investors some money. Time will tell...but I'm in!

For me. Being inexperienced and out of state makes turnkeys so attractive. Even if you do pay a little more for them. The stress levels are lower and you collect the rent right away. Hands off easy way to invest in real estate. Trying to do it by myself during my growing years of real estate investing is to risky in my opinion and could potentially cost me money through a bad deal, bad rehab, or bad management. I'm not there to monitor this process.

Please Help. All opinions welcome. Looking to get both C and B class props in Birmingham. 1). B Class SFH 3/1 1800 square feet (addition done on the back) Large Corner Lot No garage Built 1959 Located in Center Point 35215 area code Irwin Schools Price $70,000 Rent $850 New roof, hard wood floors, new HVAC. Older windows. New paint and basic cosmetic stuff. 2) C class SFH 3/1 962 square feet All brick. Located in Bessemer 35020 Hard wood floors, new HVAC, updated plumbing. New paint and basic cosmetics Price: $50,000 Rent : $700