All Forum Posts by: Dawn Vought

I have a SFR in that zip code. It is a rougher area, but some blocks are better than others. Have never had an issue with the house when someone was actually living in it. I've heard from locals in the know that the area is gentrifying and coming up, but I cannot confirm the accuracy of that statement.

@Jeffrey Nordin - regarding management, most of the PMs loved to spend my money, encouraged repairs that I wasn't even doing on my own house, because they marked up the invoices a lot, and that's how they made the majority of their money, even though you also pay a monthly % of rent fee.  They usually started off good, but then degraded over a relatively short period of time.  I would have been completely bankrupted if I continued with them.  Your Property Manager is key (and the neighborhood).  Would only stick with B and A neighborhoods there, and use a PM that someone else recommends highly.

@Jeffrey Nordin - all three!  At first, all I took were Section 8 tenants.  I did have a few good Section 8 tenants, but when the bad ones trashed your house HABD just let them move to another house and didn't hold them accountable, so the Birmingham HABD were just as bad to deal with.  Then when you rehabbed all the damages (if you could find a contractor that didn't outright steal from you, which I had thousands stolen from me over the years with different contractors), the local element would come in and steal and/or destroy everything before the rehab was even finished, so the house would be vacant for even longer.  Honestly, B'ham was a nightmare for me (and about 20 other local NY investors who I know who all purchased through the same person here in NY).  I actually came out better than most of them did, but we all encountered the same issues.

Hi  Jeff,

My biggest advice would be to stick in the nice areas.  Mine were not, and were disastrous for an out of state investor.  Someone on this thread mentioned they had a great PM that they loved.  I would suggest finding out who that is.  I only found one good PM in all my years investing in B'ham, and unfortunately she wound up dying unexpectedly in her 30s.  I've since gotten out of the B'ham market.  I only have one house there currently that I'm just holding a mortgage on, so no rentals.  If you're local to B'ham, then you can probably be more flexible.  Good luck!

Yeah! Received $1,000 in my bank account this morning from my EIDL Application for my S-Corp. I applied 4/1, they ran my credit yesterday on 4/22/20. I only received the same email as everybody else about a week ago stating instead of $10K they were giving $1K per employee as a grant (so just 1 in my case - myself). I did apply for EIDL for my LLC as well, but there's only one member of that, which is my S-Corp. Didn't see anything come into that bank account.

I applied 4/1 also (for EIDL, not PPP), but did not see an email come in.  What was the Subject Line of the email so I can keep an eye out for it? 

Looking for an update...some have said that SBA said it would be 10 days to hear from them from the time EIDL was applied for.  Has anyone who applied for EIDL and it's been 10 (working?) days heard anything from the SBA?  Or gotten the $10K interim money?

No @Tiffany Jones.  If you're a sole proprietor you can apply with your SS #.

@David Hulit Thanks so much for posting this. I'm planning on applying for two entities I own. One's a Corp that does ecommerce among other things and the other is an LLC that deals with my SFR rentals. Hoping to get two $10,000 grants.