All Forum Posts by: Account Closed

I would save that cash for a rainy day or as your back up and try to find some "other people's money" for down payments on SFH. If you own a home with equity then take out a home equity line. Might as well put that equity to use. Or take out a 401k loan for the downpayment on a few rentals. And then pay it back asap with your cash flow. I have even heard of people taking out 0% for 1 year cash advances on credit cards and using that as a downpayment for a rental property. If you have no other option but to use your own money I would definitely set some aside as a safety net. Once you get the financing the trick would be to find the deals below market value with equity already in the home when you purchase them. Then down the road you can refinance and pull out that equity into hard cash to put down payments on more properties. And the cycle continues......

will do.  Thanks guys!  Much appreciated. 

I appreciate using Bigger Pockets to network with realtors, lenders, and companies ect.  But I'm finding it hard to connect with true investors that can give me an unbiased opinion on the markets and areas in general.  I have searched all the forums and can not find anything on anyone discussing the different areas of Birmingham.  When I do get a small piece of info on an area it is from a company with homes for sale in that area.  So all this said is anyone interested in sharing their opinion on the different areas of Birmingham for both C and B class properties with out intentions of selling me anything or referring me to anyone?  

Thanks y'all

I am curious to know the areas as well.  Can anyone provide the answers to Larrys post?

I'm trying to diversify and move into another market.  I already have 5 properties in Indy.

@J Benoit I'm looking to buy turnkey properties.  Any suggestions on companies that could help me?  

I primarily invest in Indianapolis and I am looking to expand my portfolio into another market.  Birmingham Alabama has been on my radar for awhile and I'm looking to take it one step further and dig deeper into researching this market.  

Can any of you investors out there give me your thoughts on this area?  

What does Birmingham have going for it that makes it a good market to invest in? 

Much appreciated.  

I got my start in Indy 5 months ago and bought 5 properties.  I've met several turnkey providers, lenders, and realtors.  I am an out of state investor as well and Biggerpockets is how I made all my connections.  Send me a private message/colleague request and I'll tell you all about my experiences.  

awsome.  Thanks everyone!

@Andrew C. Nope!  Go see it.  You'll  enjoy the experience and will be able to start the process of establishing those trusting relationships.  You will also have the opportunity to pick there brains for a few days and learn from them. Ask questions and take notes.  If you want to take this seriously you need to get on the ground yourself and see everything in person.  

If you don't go there you are putting a lot of trust in someone you don't know.  There are people out there that will treat you right and look out for your best interest however how can you be so sure that the individual working for you is one of these people.  It's to risky for a new investor and you miss out on learning and networking opportunities.  

Buying site unseen is more for an experienced investor who has already established his ground team and done the lag work.