All Forum Posts by: Lance Lamberton

Reaching out to the community to get some general advice from real estate investors in British Colombia, Canada. If you are an investor from BC or if you have RE friends in BC then pop me a message, I would love to chat. 

@Andrew Fair, thanks for your reply, I see you are an agent in Birmingham. What neighborhoods should I be looking at in Birmingham? And what should my target Purchase price and rehab cost be for the area? I would love your guidance on this. Thanks. 

I am looking to do my first RE deal. Despite its inherent risks I'm looking to do a BRRRR strategy because I do not have the capital to put down. Ive looked at a few areas and settled on Birmingham, Alabama.

Here's my ideal deal

Purchase: $60k

Closing: $2400

Rehab: $35k

Holding costs for 6 months: $8000 - estimate for interest & utilities. 

All in $105,400

ARV: 145,000 to 155,000

Here's the question(s): 

1. Does anyone have any experience in this city, and know if these numbers are possible? 

2. Are there any areas in Birmingham, Al that I should consider/ Avoid? 

3. Feel free to recommend other cities as well. 

I guess it's well known that a good kitchen and bathrooms go a long way. 

I'm wanting to understand the criteria that a property appraiser will use to evaluate the kitchen?

Some Context: My wife and I have bought our first Non-investment property. But we have an aunt that has some equity in it and would like to finance her out. The kitchen is very small but we have the opportunity to make it open-plan with a small island. 

how I see it, 

1. Fix up the kitchen 

2. Property appraises higher

3. Extend our mortgage and finance our aunt. 

I'm getting started in an unusual way. Recently immigrated from South Africa to Canada, but moving to Atlanta in 9 to 12 months. I'm wanting to house hack when I arrive. I can't seem to find deals on the MLS for 2/3/4-plexes in the budget, but plenty of single-family. I'm wanting to maximize cash flow, so potentially looking at converting a single-family 2/3 story house into a 2/3-plex.

I've never been to Atlanta so I will take all your advice on good suburbs? Where can I find good 2/3 story houses? Have you used this strategy before? What was your success? does it hurt your resale value or bring it up? does it require any additional planning permission? are there materials on this topic? 

I know it's a loaded question but, I'm on a fact-finding mission, I don't know what I don't know, so lay it on me. 

Awesome, Thanks Raj

Yeah, I understand that all. I'm right at the start here. Do you have a short list of areas I should have a look at to get me started? 

Hello all. 

I have recently immigrated to Toronto, Canada. I have been deliberately holding off buying real estate in my home country, South Africa. (Story for another day). I want to begin investing this year with 1 or 2 multifamilies. Toronto is very expensive and tenant-friendly. I want to invest in the US but want to select a location based on a statistical model. I'm struggling to find all the data I want, and when I do it's super difficult to get the data to gel well.  Are there any models out there that show City - Housing prices - rental prices - Pop. Growth - Unemployment - Crime?