All Forum Posts by: Bryan Hartlen

Having it underwritten by an RMLO can also increase its value.

@Freddie DeFilippo / @Jean M. Did you pull the trigger?  Good or bad experience?

@John Underwood - if you're keeping as a rental; do you need to do the QT when you eventually decide to sell it?

@Chris Seveney & @Eric Krikke: I agree that typically it's true that C (and even D) class assets will have higher expenses and weaker appreciation, but it's also typically true that they cashflow at a higher rate per invested dollar.  So it's not necessarily true that A or B class properties are the better approach. It depends on what your goal is (cashflow vs appreciation), how much time you want to spend managing tenants (or PMs) and if you're buying value-add or turn-key rentals (I'd argue that value-add lets you minimize on-going expenses as you control the rehab). 

@Bryan Miles, I haven't done it myself but Simplifile lists them as accepting e-file (https://simplifile.com/services/e-recording/e-recording-counties/e-recording-in-Alabama/)

@Peter Philando not yet.  The property we were looking at went under contract (for more than we were willing to offer).  

@Greg Parker, @Robert Hansen & @Peter Philando - Sorry for the late response but wanted to say thanks for sharing your experience.  

Hi all.  I'm wondering if anyone has come across a guide for Montgomery neighborhoods?  Something similar to the Birmingham one here on BP (see this link https://www.biggerpockets.com/...).  I've searched but haven't found anything. 

Assuming there isn't; can anyone shed light on the Westend / Westgate neighborhoods (south or east of Fairview Ave)?  Is this a C class?  How bad is crime?  On the rise or declining? 

Thanks in advance!

@Jim Holmes I sent you a PM.

It’s going to be hard to reposition your units and get top rents while old tenants and (I’m assuming) poorly maintained properties are nearby on the street.  

So, if you can handle to the worst case scenario (no tenants = no cash flow) while rehabbing, then I would raise rents on existing tenants as soon, and as much, as possible. This will clear out most of the undesirable tenants and will let you rent the first repositioned units as being the ‘first’ to come in a new up and coming neighborhood.  

The other option is to work your way down the street, one duplex at a time and plan on first couple units rents to be less than rents you’ll be able to get for the last couple. Once all units are complete you can increase first units to market rents during the next leasing cycle.