All Forum Posts by: Matt Wallington

I think those are decent numbers for the Birmingham area, especially if they're in decent neighborhoods. Feel free to reach out to me if you have any questions. I'm both a realtor and investor here in Birmingham.

Hey Ryan,

I'm a realtor with ARC Realty and love working with investors. I am also an investor myself with properties in a few different pockets of the surrounding Birmingham area. Feel free to reach out to me at 205.999.5801

ey man, send me the details on this. I lost your phone number by the way. Text me your info, 205.999.5801

Hey Jonathan, 

Pinson overall is a pretty safe area to invest in. The rents for a 3/2 range from about 1300-1600/month depending on quality of the property and specific neighborhood. I'd be happy to help more if needed. Feel free to give me a call/text.

Investment Info:

Single-family residence buy & hold investment in Trussville.

Purchase price: $157,000
Cash invested: $40,000

- Bought it for 157k with the sellers cutting me an 8k check at closing to go towards repairs and upgrades.
- 20% down plus closing costs and repairs was roughly 40k
- Currently renting it out for $1400/month
- cashflows roughly $500/month before cap ex., vacancy, maintenance

What made you interested in investing in this type of deal?

Monthly cashflow

How did you find this deal and how did you negotiate it?

Found it on the MLS

How did you finance this deal?

Conventional 20% down

How did you add value to the deal?

Cosmetic changes (flooring, paint, light fixtures)

What was the outcome?

Have had it rented out since 8/1/18

I currently have one investment property that I closed on 6 months ago. I have a tenant in the house and she pays like clockwork and it’s cashflowing nicely.

Im really wanting to expand my portfolio in 2019 and it seems my biggest hurdle at this point is finding the capital/funding for the deals. I know there are a wide number of options to find funding (traditional bank, private money, hard money, etc.), but I’m wanting to know which funding options have y’all had the most success with and why?

I spoke to my first private money lender yesterday and he was offering a 30yr fixed loan at 7.5% with a min loan amount of 75k, and a prepayment penalty for the first 3 years. Does this sound pretty normal? 

Any advice is greatly appreciated! 

you should be calculating cash ROI as $3875/$36,000 which would bring you to the 10.77%. If you were all in for $218,000 and then refinanced and cashed out 182,000 you now only have 36,000 invested.