All Forum Posts by: Mark Byers

Hey Chris,

I manage mostly single-family homes in Birmingham and would be happy to share insights about the areas. Birmingham has some great opportunities depending on your strategy and the neighborhoods you’re targeting.

If have any questions or need specific market insights, feel free to reach out. I’d be happy to connect and help point you in the right direction!

Best of luck with your investment search!

Hi Meir,

Birmingham is an excellent place to invest. The market here offers a lot of potential.

I highly recommend making a trip here to get a feel for the different neighborhoods and understand where the best opportunities lie. Birmingham’s market is diverse, with various areas offering different levels of potential and risk, so getting boots on the ground can be one of the best investments you make in terms of time and money.

I’d be happy to connect and share more about what I’ve learned from my experience managing properties in this market. 

 Lol I was kidding, Bryan is a friend

I think you are just old 

Yes this is happening to everyone

Yes these terms are generally what you are going to find in Birmingham 

My experience has been that this only occurs when a 'turn key' provider over-rents a property in order to sell it to an out of state investor. Generally goes sideways and then when it turns over rent has to come back down to actual market rate

It's not unusual for Section 8 payments to be delayed, especially when dealing with HABD (Birmingham). Wouldn't necessarily hold this against the PM. I've had situations where we're following up consistently, being told 'you'll get it with next month's distribution' and then they still don't send it and we have to continue to push and follow up again and hope that you get it next month. Section 8 in general, but especially HABD is a headache to deal with and this is part of the game. 

I'd be more worried about 1 and 2 than 3. If you finance and buy in a flood zone flood insurance will be necessary and expensive. It'd be money well spent to get on a plane and come put your eyes on the different neighborhoods. 

The cashflow is good until/unless you have turnover/maintenance. How long can you keep the tenant/ are you prepared to have a $5-10k turnover that takes 60 days. Can you afford the $5k stolen HVAC unit, electrical upgrade, new roof, sewer line/cast iron plumbing replacement. All realistic possibilities.