All Forum Posts by: Jarrod Cook

@Josh Obregon I would be interested in the house should you decide to sell.

@Jay Baxter there is nothing 'B' about Hoover or anything else in the OTM area. These suburbs collectively have some of the best schools in Alabama and are sought after by most who can afford them.

For a nice mix of B class houses try Centerpoint/Huffman, Hueytown, Adamsvilles, Forestdale and Pleasant Grove. Also, what's your beef with Sec 8? I can understand not wanting your entire portfolio occupied with Sec 8 but by nixing them all together you are cutting out some great tenants with guaranteed income.

I understand your want for strong income but remember that the area doesn't determine the amount of cash flow, how you purchase does. I hear all the time that a C will cash flow better than a B - on paper this may be correct but what if you purchase the B for a lower price than the C?

@Jay Baxter there is nothing 'B' about Hoover or anything else in the OTM area. These suburbs collectively have some of the best schools in Alabama and are sought after by most who can afford them.

For a nice mix of B class houses try Centerpoint/Huffman, Hueytown, Adamsvilles, Forestdale and Pleasant Grove. Also, what's your beef with Sec 8? I can understand not wanting your entire portfolio occupied with Sec 8 but by nixing them all together you are cutting out some great tenants with guaranteed income.

I understand your want for strong income but remember that the area doesn't determine the amount of cash flow, how you purchase does. I hear all the time that a C will cash flow better than a B - on paper this may be correct but what if you purchase the B for a lower price than the C?

I specialize in getting buyers into turnkey properties for way less than any provider, nationwide or local. If you're interested, let's talk.

Enjoy the rest of your night.

How do you have Hoover labeled in with B neighborhoods? Also, Hueytown, Centerpoint and Huffman B - ? I'd love to talk off thread to see how you came up with these ratings.

@Alexander Felice 

1550/156,000 = .009 which is lower than 1%, meaning it doesn't meet the 1% rule, which was my point all along. Why are you trying to make this more difficult than it needs to be?

@Alexander Felice the link is actually for the 2% rule and the 1% rule. It can be looked at as return as it's taking the RETURN you are getting each month compared to the amount you paid for the property. I know being a banker you may be a little more strict with your lingo but we use this rule everyday when helping clients choose between one investment or another. 

Good looking out and thanks for the advice but I promise this twist of words is not going to cost me or my clients any money... I prefer this method because it's simple and everyone seems to really understand it.

@Yael Fuerst 

https://www.biggerpockets.com/renewsblog/2013/04/1...

1550/156,500 = .009

If you use your net it's even lower.

@Yael Fuerst this is not even 1% return on your money. Just curious, what is drawing you to this deal? If you'd like, I can speak with you about deals for 1/3 the initial investment and with way better returns. Good luck.

@Jay Baxter it depends on the lender. I can introduce you to a lender that does not require seasoning.

@Darrin Russell you need a new Realtor, my friend. There are always flips to be found. Retail flips may be a little tougher to find than a turnkey project but they are there, I promise. Also, there may be some miscommunication about the 100% cash. You do not necessarily need the cash but a cash offer with a quick close will definitely strengthen your chances for acceptance so, if you don't have funds, have some hard money lined up. Good luck.