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Updated almost 6 years ago on . Most recent reply

User Stats

83
Posts
44
Votes
Michael Kay
  • California
44
Votes |
83
Posts

Birmingham / Irondale Analysis

Michael Kay
  • California
Posted

Hi!

I think I found a good REI deal in Irondale, AL (outside Bham)

I'm estimating a $130,000 purchase price, $1300 monthly rent. Here are my costs

  1. Maintenance reserve, 5%......$65
  2. Vacancy 5% .............................$65
  3. Management 10%...................$130
  4. Property Tax............................$114  (Jefferson County records show this as half this but realtor mentioned this number, getting clarification now)
  5. Insurance..................................$65

Anticipating some capex for a new driveway and repairing the crawlspace which had standing water in it.

Seems like a good deal otherwise. Thoughts?

Most Popular Reply

Account Closed
15
Votes |
27
Posts
Account Closed
Replied

I think the numbers are too low. 

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