All Forum Posts by: Michael Ewers

I didn't know about this rent control limits in Berkeley. I just put down an earnest deposit on a single-family home in the 63134 ZIP code. Do you think this will impact my ability to rent the property?

Hi all,

My partner and I are looking to buy investment properties in Alabama, specifically Birmingham. We are both out of state investors. We both own 1 property at this time. I had a few questions and would appreciate any advice in general.

Strategy / Goal: BRRRR but no major rehab at first to lower the risk. Plan is to purchase a couple homes over the next year. We want to get a few rentals up and running and then (if all works well) begin bringing other friends/investors in to invest with us. Current goal is focused on growing a portfolio and reinvesting cash flows. We are not focused on the passive income at this time as both working W2.

Questions:

1. We will be investing 50/50. What is the best way to structure the partnership? Should we start LLC?

2. For financing, would we then want to get a DSCR loan under the LLC or should we start with conventional loans under our name until we hit a certain number and then move them over? I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that

3. Generally speaking, have any of you invested in this area and been successful? Did you look into renting to Section 8 tenants?  Would love to learn from your experiences.

4. Any advice for out of state investors that would be beneficial?

5. Any general advice for someone starting out in a partnership and looking to grow a portfolio?

Thank you in advance,

Steven

Some other good zips are 63074, 63042, 63044 - great for long term rentals.

There are good areas in south city left as well :-)

I see more and more issues with municipalities like Berkeley, Pagedale where they want to narrow down the amount of rentals within a neighborhood and require homeowners to occupy and won't give out occupancy for rentals.

Let me know if you've got any questions.

I grew up near the 63031 zip code and know the area welll. There are many similar suburbs along the 270 corridor in North County that would probably have similar housing stock though you may need to look a little east (toward downtown) to find the inventory. I assume you're buying SFs in the 1200-1500 SF range and doing some light to moderate rehab, is that right?

Hello 
I bought a property in Owens Cross Roads in September 2024. This is my out of state investing and I am in California.

I have put the rental price below the market (as suggested by local real estate agents). I have advertised through Hemlane, ZIllow and also MLS. I had only 2 enquiries till now and both did not go any further.

I am told this time of the year is slow but is it so slow that I only have 2 enquiries in two months? What do you suggest I do for renting it now?

Thanks in Advance

Would appreciate any advice, I would like to invest somewhere in the southeastern quadarant of US (for example I'm open to somewhere like Missouri that isn't traditionally part of the "southeast"), looking for somewhere where I could acquire a SFH STR between $250k - 325k.

So far I've looked mainly in Texas, Dallas seems too high for this, seems you need to be around at least $400k there to really get something decent for an STR. San Antonio seems it may potentially work as it's a bit cheaper than Dallas. I looked at OKC a bit but I'm just not sure the demand for STR's there is sufficient.

I'm looking to get a property with short term stays, 7 days or less. Would like decent occupancy, around 50%+, not too seasonal where it just sits empty half the year also. I would say I lean more towards cities, in case it ever needs to be turned into an LTR, but am open to more vacation-centric destinations.

Any advice is much appreciated, thanks!

I recommend the Lake Hefner area of OKC and the neighborhoods near 23rd/ Penn Ave. Also try, Edmond, Moore and Yukon.