All Forum Posts by: Omer Zakai

Hi, I have no issues with renting to S8. However, not sure if the voucher for a 2BRs is over $1000 

Team,

I wanted to ask for your advice. I have 2 properties- under contract in Birmingham, AL ( both in the same area- zip 35235- B/C- area). The first is a 2BR/2.5Bath. The property is in a turnkey-key ( buying from a homeowner) and has some nice features like a patio and fireplace, and it's 300 sqft larger than the other 2BR in the area (1400 sqft- where other 2BRs are at 1000-1050). However, 2BRs in the area rents for $900, making this deal not attractive ( it has to be at least $1,000-$1050). If I use only "formal rental reports I got from my PM to set the rent, it could rent for $900-$950, but I feel I can get more for it based on its condition and size.

The second one comes with a tenant who pays below-market rent ($750, which should be $850-$900). I have a similar property in the area that I rent for $900). I think I will move forward with the 2nd ( got it at a good price, $85K) as I can always raise the rent at the end of the lease and, worst case, find a new tenant, but I am debating about the first one...  contract price $110K, Taxes $700, Insurance $750. Any advice you can share to help me to make a decision?

Team, I wanted to ask for your advice. I have 2 properties- under contract in Birmingham, AL ( both in the same area- zip 35235). The first is a 2BR/2.5Bath. The property is turnkey-key ( buying from a homeowner) and has some nice features like a patio and fireplace, and it's 300 sqft larger than the other 2BR in the area (1400 sqft- where other 2BRs are at 1000-1050). However, 2BRs in the area rents for $900, making this deal not attractive ( it has to be at least $1000). If I use only "formal rental reports I got from my PM to set the rent, it could rent for $900-$950, but I feel I can get more for it based on its condition and size. The second one comes with a tenant who pays below-market rent ($750, and the rent should be $850-$900). I have a similar property in the area that I rent for $900). I think I will move forward with the 2nd ( got him at a good price) as I can always raise the rent at the end of the lease and, worst case, find a new tenant, but I am debating about the first one... Any advice you can share to help me to make a decision?

Hi,

I am looking to get some insights into both markets. I am an SFH investor ( Buy and hold). I operate mostly in Birmingham, but the market is very hot, and hard to find sold deals, considering expanding to these markets.

Hi,

I am looking to get some insights into both markets. I am an SFH investor ( Buy and hold). I operate mostly in Birmingham, but the market is very hot, and hard to find sold deals, considering expanding to these markets.

@Mitch Messer Here you go! 

Thank you so much! 

https://drive.google.com/file/...

Dear fellows investors, 

After a few weeks of searching,  I finally got my first property under contract ( Whee!!), a 3BR/2bathrooms townhouse in Birmingham, AL ( C+/B- area). I got it for $115K and the estimated rent is around $1,000-$1,050.

I just received the inspection report, and it looks like the property is in good condition; however, some minor repairs are needed. I will love it if someone can spend a few moments going over the report with me and advise me about the next steps ( re-negotiating the price with the seller, estimated repair cost, etc.). This is rental/buy and hold property, not a flip.

Thank you all in advance!

Omer

Hi All,

I currently explore these 2 markets as a new out-of-state investor. My investment strategy is to buy and hold SFH and looking to build a portfolio. Focusing on more recently built properties (2000+) in good area s( B+, good school) $100K-$180K each with 5-7% cap rate with good appreciation potential.

Both markets seem to be very hot with a lot of new construction; properties are being sold over asking, and hard to find sold deals. I would love to get the crows' wisdom with some insights from local investors that operate in both markets.

Omer

Hi All,

I currently explore these 2 markets as a new out-of-state investor. My investment strategy is to buy and hold SFH and looking to build a portfolio. Focusing on more recently built properties (2000+) in good area s( B+, good school) $100K-$180K each with 5-7% cap rate with good appreciation potential.

Both markets seem to be very hot with a lot of new construction; properties are being sold over asking, and hard to find sold deals. I would love to get the crows' wisdom with some insights from local investors that operate in both markets.  

Omer 

Hi All,

My name is Omer; I am a new out-of-state rental ( buy and hold investor) currently exploring investing in Birmingham, Alabama.

I would love to get some information about areas to look into ( mostly C+/B areas) in Birmingham and surrounding areas, open to new construction. 

Besides, I would love to connect with local investors/vendors,/service providers in the area.

My goal is to buy and hold 5 properties by the end of 2021  

Omer