All Forum Posts by: Roderick Smith

@Jason Carter Thanks for the plug. @Linnea Minnema @Miranda McKenzie I work the roebuck, huffman, & eastlake market I have listings that i have sold and are on the market in those areas. South Eastlake is better for investors at the moment but as Jason said its street by street. I have a couple of listings now that would make a good BRRRR they actually are located behind the gold course in Roebuck/Eastlake and are next door to each other. Everyone has a different experience when investing in those neighborhoods. Here is a market report of Eastlake.

@Miranda McKenzie I'm here to help in anyway that I can be of value.

@Jason Carter thanks for the plug. I just closed on two of those hard to move houses in South Eastlake today!.. I sell them all ugly, pretty, big, tall, short, and small. LOL...

Last year I took over the payments on a couple of houses, rehabbed them, put tenants in them to pay the mortgages for me. It has worked out very well so far. It's a relatively cheaper way to get into a property and cash flow. I am in Birmingham, AL so this is a cash flow market. I have heard all of the scary talk about the lender calling the loan due, but I even talk to them. They could care less about who makes the payments. They don't want the house they want the money. And they know if they call the loan it would be foreclosed. So I feel as if it's a good strategy for me and my business. I have so many that come across my desk but I don't want to bite off more than I can chew so I help my clients find buyers/ investors who like this strategy as well. What do you think about this strategy and does it work in your market? 

If you are a savvy investor who likes contract for deed in lieu of mortgage payments then I have just the thing for you. I come across these properties all the time. I have done a few myself. I take the deed to the house, rehab the house, put a renter in to pay the mortgage payments for me. If this sounds like you then connect with me. I have properties that I just can't get to. I have listed properties where my clients are ready to sign over the deed! I can be reached at [email protected] Let's make a deal!!!

1. Do you think gentrification is an issue? 

It would depend on the overall impact of the current residents and whether or not the demographic changes because of the improvements.

2. Do any of you ever struggle with the reality that we collectively price people out of their communities? 

It seems as rent values are increasing regardless of the improvements in less economical areas. Especially where I live in Birmingham. I had to increase my rents as the costs of insurance, and taxes have been raised. It has nothing to do with gentrification for me. 

3. Do you ever think of it that way?

Yes i know some people who do intentionally buy in low value areas just because of the cheaper price they can get by exploiting people life's issues and profit from their pain.

4. Do you ever feel bad about contributing to the gentrification of communities?

No because it is not my intention to price people out. I instead buy, rehab, and provide affordable housing for people in these areas. I give them the opportunity to live in decent housing for a change and most appreciate the advice and counseling I provide in conjunction with the nicer houses because I want them to own these houses. So I provide them with owner financing options.

5. What are the alternatives? Provide education and counseling to people in these communities to help guide them into homeownership. Hire the people in these communities to work on the houses that are being rehabbed. Provide job training for people in these areas.

My Big Why as Gary Keller put it was to 

1. Build a legacy and generational wealth for my family.

2. To help pay for the expensive medical bills i have due to getting chemo treatments every 4 weeks. 

3. To help build up my community and help those most in need of affordable housing and to teach them the importance of owning rather than renting. 

Hi Im from the Birmingham area. I am a active landlord, and investor. Let me know if i could be of any help to you.

I use erentpayments. They debit my tenants accounts and deposit into my rental account. 

@Kevin Romines can you help me with some of those loan options you spoke of?