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All Forum Posts by: John Patton

John Patton has started 9 posts and replied 301 times.

Post: Refi and get negative cashflow or 1031?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

The Birmingham area of 35215 is east side. Check your high schools. Any properties with City of Birmingham schools cost less and get less rent. I have 3 properties sfh in the area last 8 years.

Huffman and Erwin (county) are ok. Good schools are Clay and Pinson, check them out.

You can go 1 block in 35215 and rent change from 750 to 950 along with the crime.

Ride thru the neighborhood about 11 am and see what is like. Good luck out there.

Post: Fairfield, Alabama Property

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

It is  bad in Fairfield that the only Walmart in that area closed down, the city is looking to shut down and the largest employer (US Steel) layed off most everyone off. Those folks are in rally bad shape. That place was a boom town from 1950's thru the 90's. I would stay clear of it these days. Read this.

Google up "Fairfield Alabama Walmart Closing".

Good luck.

Post: Birmingham B+, B and C

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

In reference to sec 8 houses. Never  have had any in Sec 8. Some folks love them and I know a lot that have left them. I look at the neighborhood. Every block is different . If you are interested in a property ride by it between 11 am and 2 pm, You will find out who works and who don't.

When interviewing potential tenants by phone I have 15 to  20 questions. Those answers will tell me a lot. I also look for what monthly bills that competes with my rent.

jp

Post: Birmingham B+, B and C

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

Yes, agree, Two weeks ago I was low by 10k on home in Hoover that I bid. My bid was 20k over list.

Agree with Jarrod.

Post: Ten Takeaways From Over 3,000 Renovations: Don't Be Fooled!

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

Good stuff. Like it.

Post: What Is Your Perception For Investing In Alabama?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

Yea, should have tried the Hoover area about 8 miles south were the school system is 6% Asian.

Next time your come this way contact me and I will be glad to show the good stuff. Good luck. JP

Post: What Is Your Perception For Investing In Alabama?

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

I think I know Birmingham pretty good. Pinson is good, 3/4 of center point but would not interested in West side of town.

Zips like 35208, 35211, 35201, 35203, 35204, 35218 and 35234 have some tough places. I know one investor that turned down free home in North Birmingham because of neighborhood. One block can make a big difference.

Good luck. JP

Post: New investor from Birmingham, Alabama

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

Good luck to you. You may want to consider the local AIA group of investors at Homewood Senior center once a month. Let me know. JP

Post: Appliance Contract

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

Clause 21:Additional Provisions

1.No parking on grass

2.No abandoned cars on property

3.No water beds

4.No incense burning

5.No outdoor grilling within 25’ of house

6.No ironing on floor or carpet

7.Tenant is responsible for all floors

8.No RV’s or campers on grass or driveway.

9.Landlord not responsible for repair nor replacement of kitchen oven or cook top

Post: Appliance Contract

John PattonPosted
  • Investor
  • Birmingham, AL
  • Posts 315
  • Votes 204

I have removed the dishwasher out of most of the homes because it was another item that could break down. I have a clause in all leases about stove or cooktops that breakdown that I have no responsibility.