All Forum Posts by: David Chappell

I think it mostly depends on the neighborhood. I own some where the estimate is around $100 +/- what I am currently getting, and then a few where it's off more than that. I made it a habit of every few weeks, exporting the available rental listings from a few PMs in the area, throwing them in a google spreadsheet and using the averages from those. 

I think it depends on the market and the neighborhood. Some areas are full of family so 3/2+ combinations are more rentable, where in other locations it may be singles only needing a small 2bed. I'm in Birmingham AL and still pretty new to this, but I spoke to a hedge fund buyer and they have a criteria of 3 bed/1 bath/1000sq ft/newer than 1960 as their baseline criteria so that's what I stuck with. These are other things I look for also, these may eliminate cashflowing properties from my search..but I would rather have better locations that will rent easier

- No weird floor plans
- Single story homes
- carport is nice, garage even better
- driveway, not alley access
- level lot with good draining, no large trees close to house
- no busy streets (40+ mph), look for wider streets on google maps those indicate higher traffic streets, people like privacy and quiet
- no corner lots if backed up to a commercial area

Hope this helps!

Also it's worth mentioning, I have zero MFH experience..only SFH in Alabama. So I am going with learning as much as possible from the sessions but more importantly, hoping to meet a few experienced investors in Alabama that are open to partnering with me and finding out where I can provide value to others to help grow my portfolio.

Hi Ryan and Senate, I will be attending my first Jake and Gino conference..super excited about it. Senate thats a good point, I want to set a plan in place to make good use out of my time. Do you have any tips on how to find other attendees investing in your market? They should make it like college freshman orientation where they pair you up with people investing in your state so you can make connections haha

What markets are you guys investing in? Would love to meet up between sessions and chat

Hi Alex, good morning! Didnt even realize you were in ATX too haha. For your strategy, I think thats a good one and that's what I am hoping to transition too in the next few years. Since 2020, I have BRRRRed 5 SFH in the Birmingham area and I am sticking with that strategy for now. Capital preservation and cash flow are my two main priorities right now, Im not quite ready to sink $75k+ into a MFH yet. Ive only been doing this for a few years, but I will say that finding MFH in Birmingham that aren't in D/F areas is going to be VERY tough. I've been looking for some small quads for the last year or so and haven't found anything yet. Most of them go pretty quickly off-market to local investors or investors with existing relationships with brokers. Every wholesaler I have spoken to in the area mention the same thing. So Im not saying it cant be done, its just going to be a little tough. I am hoping to transition over to a strategy similar to yours in the near future, but I feel that focusing on another market with more MFH may be easier. I feel like Im a little late to Huntsville but have opened up my search to that market as well as Tusccaloosa. Either way, sounds like youve got a great strategy in place! Would love to chat more, maybe we can partner up in the future.

He's a good contact to have, well connected with other investors in the area. What's your strategy and what kind of investing are you planning on doing in the Bham market?

Ive sold a few houses with Morgan Rector @ A3 Realty and she's great, feel free to PM me if you need her contact info.

@Greg Parker and his team are great!

 Charles - do you mind sharing your lender? I was working with a local bank in Bham but they no longer offer what I need, so Im on the hunt for a new partner. Thanks!

Ally (formerly Jones Warren) does great work. They have a $225 investor special inspection that looks over the major mechanicals (roof, foundation, electric, plumbing, etc) of the house to make sure its in good shape and avoids the cosmetic stuff to save money. They are responsive and can usually get out there within 48 hours and you get the report back same day usually.