All Forum Posts by: Angela Davis

@Angela Davis Birmingham sounds like a winner. But whatever you do, don’t wait + don’t listen to people who aren’t in the game. Good luck and go get em !

Thank you Bud! Best of luck to you as well! By the way, any particular area in Birmingham you would recommend? Thanks.

0 Votes

Quote from @Evan Kline:

If you're looking at NC I would also second @Pat Lulewicz and go to the Triad. I'm most bullish on Winston Salem (I own 6 units here). It's still possible to cashflow a little bit (100-400/month on LTR), but Mid-Terms do exceptionally well here. We have two major hospitals, 5 universities, multiple anchoring global corporations.

Our worst preforming MTR cashflows $1000+ per month depending on utilities. Best does $2,200/month.

Feel free to reach out and private message me if you have any questions!

Thank you Evan! Really appreciated your feedbacks!

0 Votes

Quote from @Pat Lulewicz:

I do not invest in Birmingham, nor do I know much about it. I had previously looked at multi-family there and it seemed to pencil. With that being said, my understanding is that Birmingham will be more of a cash-flow market. As a Raleigh investor and Realtor, I can confidently say that Raleigh is not a cash flow market on Y1 rents...at least not from an LTR perspective. MTRs and STRs will get you there. If we find you a break-even LTR deal, you crushed it. We're a 2% CoC Y1 at best, but you will also enjoy the hyper-growth that has come in this market, so safe to say the Triangle is an appreciation play or patient capital as your rent rises for the next 5 years to get you to a cash flowing property.

If you want a good cash-flow market that's attainable from a price perspective and growing, take a look at Greensboro, High Point and Winston Salem (collectively the Triad). We have great deals here across any tenant class and property type.

Bonus: IF you do choose to invest in North Carolina, reach out to me about your lender downpayment situation. We have a local bank that I work with that does 15% downpayment, NO PMI investor loans between 6.375% - 6.875%

Thank you Pat for your advise. It was really helpful!

0 Votes

Hello BP friends. I recently joined the community and planned to start my 1st investment. Please see below for more details and happy to hear your thoughts!

Current Status: Sample picked few SFH in Birmingham and Raleigh--> Resulted (-$2,000) ~ (-$6,000) CF yearly

My Goal:

- Positive Cash Flow > Break Even CF > Appreciation

- No BRRRR at this time since it will be 1st time

Current Challenge: 6.375% with 30% down payment (consider the high rate impact the CF directly)

Questions:

1. Location: Birmingham or Raleigh? Any advice?

1.1: If Birmingham, any area recommendation?

1.2: Any other location recommendation is welcomed!

2. Based on the current market condition and high rate, would you suggest actively looking or starting some book reading instead?

Thank you!

0 Votes

Quote from @Heeyeon Chung:

Quote from @Jason Maguire:

I'd be careful with Binghamton- don't have the exact stats on me currently, but Binghamton is not a nice place & has been progressively getting worse over the years. I actually was just watching a video that said Binghamton was the worst place to live in NY. It's also kind of in the middle of nowhere and the only thing out there is SUNY Bing.

Please see the below link to Binghamton's crime stats. According to this site, Bing is only safer than 4% of U.S Cities. If you are looking for class A or B props, this is not the place.

Binghamton Crime Rates and Statistics - NeighborhoodScout

I'm from the Troy, Albany, Schenectady area & i think it adds a lot more value & there is a lot more opportunity in this area job wise & just in general more to do. There's also a wide variety of A-D properties, so you can find something depending on what exactly you are looking for.

I guess the main point i am trying to make, is don't just jump to the first spot with low prices because you are priced out of NYC, sometimes there's reasons as to why these towns are priced extremely low, so just some food for thought.

If you have any questions about the capital region area, let me know! I am not an agent, lawyer, or lender so have nothing to gain from giving any additional insight.

Hi Jason,
I am from the Capital region, too! Let's connect!

I also have a 4-unit in Binghamton. I am so glad I invested in the area. I know some areas are unsafe, but I see a value in investing in Bing!

Hi @Heeyeon Chung , you've mentioned "I know some areas in Binghamton are unsafe", can u please elaborate on which areas? maybe we can connect? Thank u so much!

0 Votes

Upstate New York, New York

Hi Misia, did you find the PM yet? I'm looking for PM in Binghamton as well, is it possible that you can share the details? Thanks in advance.

0 Votes

Upstate New York, New York

All Forum Posts by: Angela Davis

Angela Davis has started 1 posts and replied 6 times.

Post: Birmingham or Raleigh or Wait

Post: Birmingham or Raleigh or Wait

Post: Birmingham or Raleigh or Wait

Post: Birmingham or Raleigh or Wait

Post: Binghamton Rental Property

Post: Property Management in Binghamton NY Area