All Forum Posts by: Account Closed

Thanks for the insight. I understand that getting a loan with a new LLC can be tough without a solid track record. I've reconsidered forming an LLC, I've decided to start without it for now. Instead, I'm teaming up with a trusted partner from Anniston, AL, which has made my wife feel more comfortable with the plan :).

I’ve been diving deep into the Birmingham market, using local resources and data to shape my investment strategy. My focus is on markets where our combined capital and experience can bring the best results. Right now, Huntsville, Jacksonville, Birmingham, and Oxford are looking promising and fit well with our goals.

I’m planning to visit these areas soon to check out potential investments in person, with my partner who lives in Anniston, AL. Any additional tips or advice for rookies and on navigating these markets would be greatly appreciated. Thanks again for your valuable input.

Thank you for the feedback. I appreciate it!

Hello Everyone, 

I'm looking for some advice on how to get started with real estate investing using the BRRRR method with $50,000 to start, particularly in Birmingham, AL. Here's my situation:

- Experience Level: I’m a new investor with a moderate (Still learning) understanding of the BRRRR strategy but haven’t executed it yet.
- Business Setup: I'm setting up a new LLC specifically for this venture, which means the LLC will have no prior credit history or track record.
- Investment Location: I plan to invest remotely in Birmingham, AL. I'm drawn to the market due to its affordability and potential for growth, and I have family nearby that can be resourceful.
- Goals: My aim is to successfully purchase, rehab, rent, refinance, and repeat with my initial properties, eventually scaling up to build a portfolio.

Questions
1. LLC Setup and Financing: How do I go about securing financing for a BRRRR project with a new LLC that has no credit history? Are there particular lenders in Birmingham or national lenders that are friendly to this type of situation?

2. Market-Specific Considerations: Are there any specific neighborhoods in Birmingham that you would recommend for a BRRRR strategy? Conversely, are there any areas I should avoid due to high crime rates, low rental demand, or other issues?

4. First Steps: Given my situation, what would be your recommended first steps to ensure I’m setting myself up for success? Any pitfalls to avoid when starting out with the BRRRR method as a remote investor, investing in Birmingham AL?

I appreciate any insights or advice you guys can provide! Looking forward to learning from those who have navigated similar paths.

Thank you!