All Forum Posts by: Miranda McKenzie

How about looking for a 4 bed 3 bath with at least one full bed/bath downstairs. Convert the downstairs bed/bath into a JADU and rent for 1200-1500(depending on size and location and then execute your plan with the new ADU. That JADU will basically be where your positive cash flow comes from.

Take a look at this organization. From there website it looks like they are ready to challenge cities that aren't complying with the law, at their expense. Please keep us posted on how your project progresses. We are also considering employing the ADU/JADU strategy in our investing.

https://carlaef.org/adus/

@Jason Carter thank you! I have heard that it may take a while to rent out also. I will reach out to your contact, I appreciate it! 

@Linnea Minnema thank you so much for that information. That has been my understanding, that it is not a great area but some of the homes have potential to be nice places to rent. The property manager I spoke with feels like your friend does about the revitalization of the neighborhoods. I do worry about the crime rate though I'll have to continue researching. 

@Mark K. thanks for that info, glad to hear!

@Linnea Minnema no we live in California, so trying to get a feel for the area long distance. We do plan on visiting the Birmingham area in a month or so to actually look at the neighborhoods. 

We have been narrowing down where we are interested in investing in Birmingham. I had a realtor recommend the Eastlake area. He mentioned it is an area that has some nice streets and opportunities. Looking at the guide on here though it is listed as a "D" neighborhood. Does anyone have an opinions or thoughts on Eastlake? Is it worth pursuing or should we steer clear? Looking to BRRR a property.

Thank you! 

Hi there, my name is Miranda and I’m new to the site and the forums. My husband and I are not new to real estate investing but have some questions.

Some background. We started investing out of state more than 10 years ago,  since our area has a very HCOL. We haven’t done much with our properties, life and 3 kids happened and we have been renting them through property managers. We are ready to continue investing, most likely out of state, but are not really sure what to do with our existing properties.

Property number is one is located in Layfayette, Indiana and is a 3 plex. This property has very little equity (around 20k) and until recently cash flowed about $300/month. We have had a series of problems with property management and deferred maintenance over the last year and had negative cash flow for the first year ever. We just signed on with new property management and are hoping to see it turn around. 

Second property is located in New Braunfels, TX. Does not cash flow at all, breaks even each month. We have about $150,000 in equity in this property.

We would appreciate any advice you have on these two properties. Our thoughts right now are to keep Layfayette and hope it begins cash flowing again and sell Texas, using the equity to purchase 1-2 properties to rehab and rent for cash flow (BRRR model).

Any thoughts? Thanks in advance!