Introduction (Part 2)

[Bryan Mills]

Hi everyone, I've been on the site for some time now. However, I am re-introducing myself because I recently went through a job change (a huge upgrade, I'll add) and moved from Pensacola, FL to Birmingham, AL. This happened just as I felt I was up to speed on the Pensacola market, had done a couple offers, etc., but with the job shake up I put my real estate search on hold for a while. Anyway, I have spent a couple months in Birmingham now and am actively looking for a property to purchase. I am looking for a single family home to live in and gradually renovate, and convert to a rental in a 2-5 years. I'd like an area that I feel comfortable living in, and that would attract an acceptable pool of tenants. Looking for a 1% rule property, and aiming for an all-in budget of 200k or less (some flexibility on the budget). I like being close to downtown (where I work), so I have been looking in several of the surrounding areas. My thoughts are that maybe I could find something in south Crestwood or the decent parts of Avondale, but the market prices seem to disagree with my benchmarks so far. Has anyone had any luck finding 1% deals in those areas within the last 6 months, or have other suggestions with regards to locations?