All Forum Posts by: John Davis

James, would you mind sharing your contacts with me as well? I'm shopping for a HELOC on my personal home right now.

I am under contract on my first solo investment property to fix and flip. I'm trying to determine which route to go with the renovation, and wanted to see what others are having success with. The retail prices of the neighborhood in question range from $210 - 270k based on the level of renovation. All of the houses were built in the 70s and 80s. I am under contract for $145k and I have run the numbers two different ways. The first is to do a light renovation (flooring and paint) and aim for a $220 - 230k ARV, which is appropriate for the size and level of renovation in the neighborhood. The second is to go ahead and do the full renovation and aim for the upper end at $260 - 270k ARV. My numbers are pretty conservative and I am taking my lack of experience into consideration on timeframe. These figures assume an all cash purchase and renovation. See numbers below and thank you in advance for any feedback.

Light Renovation ($220k ARV):

• Total Investment - $178,500
  
• Sale Price Less Closing Costs - $199,900
• Profit - $21,400
• Estimated Duration - 2 months

Full Renovation ($260k ARV):

• Total Investment - $203,500
  
• Sale Price Less Closing Costs - $236,900
• Profit - $33,400
• Estimated Duration - 6 months

@Julie Hill That looks great. Thanks for sharing.

@Caleb Bryant I haven’t necessarily narrowed it down to specific areas I want to invest in, but I do know the areas I want to avoid (Bessemer to Tarrant and most of the areas in between). I live in the 35226 area of Hoover, and know there is a lot of opportunity in that area alone. Leeds and Center Point are two areas that have my attention right now. Thanks for the reply!

@Jamie O'Brien Good deal. Maybe we can get together sometime and chat. Thanks for reaching out. Let me know if you think I can ever help with anything as well.

I joined BiggerPockets several years ago, but never got around to filling out my profile or making any posts. I'm looking to seriously get started in real estate investment, and figured this would be a good place to start networking and learning. I am local to the Birmingham Area as well as being born and raised here. I currently work for a well-known local roofing and renovation contractor. My dad has 40+ years of real estate investment experience, and has been self-managing his portfolio of small residential properties full time for over 20 years. I've been around his business my entire life, but feel that I have different interests and philosophies than he does so I am here to learn how others have been successful in this business.

I'm most interested in acquiring some rentals and flip opportunities. I'm also interested in commercial properties including self-storage, multifamily, and mobile home parks. I'm happy to help with any kind of local info or construction-related questions if I can.

I joined BiggerPockets several years ago, but never got around to filling out my profile or making any posts. I'm looking to seriously get started in real estate investment, and figured this would be a good place to start networking and learning. I am local to the Birmingham Area as well as being born and raised here. I currently work for a well-known roofing and renovation contractor. I'm most interested in acquiring some rentals and flip opportunities. I'm also interested in commercial properties including self-storage, multifamily, and mobile home parks. I'm happy to help with any kind of local info or construction-related questions if I can.