All Forum Posts by: Hunter Terryn

Quote from @John Underwood:

I need a warehouse. I would buy up some of these along with some canisters of R22 refrigerant. You can still get decent deals on new R22 jugs on FB marketplace.  This stuff may be more valuable than gold bars soon.

 I wonder how long it would take to setup an installation company, and how many units they could install in the next 4 months before the ratings change! Know a good HVAC crew?

Great response from @Ryan Lockstein. Only thing I'd add is the typical "seasoning" requirement from conventional lenders. They want to see you own the home for a period of time before they'll refinance (usually 6 months). So if you finished the rehab and put a renter in in 3 months, you'd be stuck with the rehab costs for another few before you could cash-out. Private/hard money lenders don't have the same seasoning requirements. 

As for finding the deals, there are a lot of ways to funnel inventory your way. But once you set something up you should be prepared to follow-through with any good leads and be in a position to buy. No sense in driving for dollars if you're not ready to pull the trigger on a good deal that comes of it. Definitely some value in learning how to analyze and nailing down that process. So I like the wholesaler list approach until you're ready to rock. Once you're in a good position to buy, get with an agent who specializes in investment properties and they'll be your boots on the ground. 

Good luck out there!

BP Fam,

I met with Ben Kayatta of Xcalibur Services recently and he shared some upcoming changes to the HVAC industry that I felt compelled to share with you all. These changes will likely impact pricing in a major way:

1. Expected 8-12% increase on material costs. This is the normal, annual increase, should be reflected for most vendors after Jan. 1 2023. Inflation is real and it's of course impacting pricing on materials. 

2. Federal govt is changing minimum efficiency ratings on equipment in the Southeast US (check for your region if not in the SE). Planned increase from 14 seer to 15 seer. This of course will require any new systems being installed to meet those ratings (more $$).

3. They are also changing the way they calculate the seer, which will cause most systems to effectively "lose efficiency". The net result is that we'll be jumping up from 14 seers to 16 seers requirement. 

With all these factors combined, Ben and other experts are projecting a 30-40% increase vs. today's pricing (at a minimum). It seems crazy, but unfortunately it's true. 

Ultimately the recommendation is that if your unit is old, has been having a lot of issues, or if you're considering an upgrade, DO IT NOW! Save yourself $1000s and avoid an even worse disruption of cash flow down the road.

Stay Cool!

Hey @Jeremy Britt!

Great question, happy to provide a couple recommendations:

Matt White of FirstBank has helped a ton of my clients and did a refi for me on one of our rental properties in FL. He used to own a substantial rental portfolio, so really understands how to work with investors. 

@Dominick Wallace is a private money lender who can fund BRRRR deals from start to finish, including the refi on the back end. He has a variety of options available and has helped out several clients of mine.

Best of luck with the investment! Let me know if I can support in any other way. 

Definitely recommend @Jason J. Biggs. He has experience with wholesaling from a past role, has great connections to hard/private money lenders, and has helped a ton of my clients find great properties. 

Let me know if you have any other questions about the Birmingham market, rehabs/renovations or property management options specifically. If I don't know the answer, I'm sure I know someone else who can help.

Reach out to @Jason J. Biggs and/or @Clay Collins. They've helped a ton of my clients find great properties. 

Quote from @Rick Albert:

Hello Investors,

I am looking to invest in Birmingham but wanted to speak with boots on the ground investors (not Realtors or lenders unless active investors). 

I am looking into 5-10 unit apartment buildings.

Because I value your time, I would like to offer a cup of coffee for where you would like while we discuss over Zoom. If there is something that I can assist with, I'm happy to see if I can. 

Feel free to comment below or send me a DM.

Thank you so much in advanced.

Always down for a cup of Joe and investing talk! My wife and I are investors (2 rentals so far) and looking to grow the portfolio while we’re in Bham over the next 4 years. 

Feel free to DM me to set something up!

Hi Lauren,

I’d recommend giving Steven Bode a call from Cloud, Willis and Ellis. He’s helped a bunch of my clients with a variety of RE transactions, evictions, and collections. 

Feel free to reach out to me directly with any questions or  if I can support in any way. 

Love me some Sweet Home Alabama!!

Specifically Birmingham and Huntsville. Highlights:

-One of the lowest unemployment rates in the country

-One of the lowest base property tax rates in the country

-One of the most affordable home markets in the country

-Huge opportunity for growth

-Great food and southern hospitality!

Let me know if I can help or answer any questions!

Check out @Terez Jones with Evernest. Terez is the man!