All Forum Posts by: Manas M.

@James Rodgers

Thanks James. Yes, porch was exactly the service I was looking for. And seems reasonable priced as well.

Just curious if it’s unreasonable to expect property management companies to give an estimate for these repairs before purchase.

I have been lucky enough to find couple of property management companies who have done this for me before in other states. But I know Birmingham market is super hot right now and lot of clients to be served :)

So after looking for a while, we are under contract for an investment property in the Birmingham, AL area. I got an inspection done which came out, IMO, with no major issues but several smaller things like caulking, missing smoke alarms,  a sub panel that may need upgrade, couple of pier supports, etc.

I am curious to know how do the experienced folks here go about getting repair estimates based on such reports? Reaching out to individual contractors, electricians, handyman could be one approach but that would take some time. 

I have been suggested to use consulting service of a property management company but I don't really think that makes sense financially because of the smaller repairs that are required.

Anybody used an online service which could help here (perhaps give average repair cost of typical items)? Most I have seem would try to connect you to local contractors which are more suitable for when you want actually want to get the work done, not just trying to estimate a ballpark budget.

@Jason Cory

I tried to look but didn’t find any regulations around revenue tax to city. Would you be able to point to any article or county/city website which talks about it?

10 % additional tax on income is a big deal and haven’t heard about this before in any other city ( although I only own couple of rentals in California and SC).

@Jason Cory that’s really useful information Jason. The cost of inspection by itself is not much from the article you linked. However, the revenue tax is something I am not familiar with. Can to add more information about this? What’s the tax rate and is it in addition to the personal income tax?

@Reggie Withers thanks! I do plan to talk with property management companies soon.

Just got an offer accepted for my first rental investment in Birmingham area code 35125. The property is recently renovated, 1800 sq ft, 4bed 2 bath.

I am looking to get some help on pricing this rental. My guess is about $1200 per mo but wanted to get some expert opinions on this.

Hi,

I am interested in a investment property in Pell city Alabama 35215. The property would cash flow and is in good condition.

Being out of state, I am not very familiar with the area and Looking for advise on the appreciation prospects of this area and how well proximity to Birmingham area would pay out?

Also, are the taxes for rental properties higher than owner occupied properties? The last assessed value was about $10k (possibly for a appraised value of 100k) and the property tax was about $450.

Much appreciate your inputs.

Hello Everyone,

I am a California resident and looking to make some investments into cash-flowing real estate properties. Since this is going to be my first OOS investment, I want to be somewhat cautious. The real aim is to see if OOS investing is something that will work for me (and of course, not incur huge losses).

I have been researching areas using BiggerPockets forums, niche.com, etc and so far really like the St Louis and its suburbs. I came across a property in Florissant on Roofstock for about 100k in 63031 zipcode and the rental estimate is about $900. There are no major repairs needed and the property looks in good shape (at least in picture and from the inspection reports).

I am looking to get some insights into the rentability of Florissant suburb. Are there enough job opportunities in the area to ensure good-working class tenants? Does proximity to St Louis area provide an advantage?

I found out that Florissant requires a rental license if owner is outside of 50 miles radius and so I would need a local PM (which I was planning to get anyways). 

Overall, Does the pros recommend this as a good starting OOS investment?

Thanks for help. Really digging the helpful resources BP community has to provide.