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Started By
Message
another r.e. homerun!
Posted on 12/20/13 at 5:45 am
Posted on 12/20/13 at 5:45 am
Closing on a 3/2 in Huntsville, al today.
Purchase price $32,500. 20 percent down. 20 year loan at 5.8 percent.
$2,000 in appliances and repairs.
Will rent for a minimum of $750 per month.
Purchase price $32,500. 20 percent down. 20 year loan at 5.8 percent.
$2,000 in appliances and repairs.
Will rent for a minimum of $750 per month.
7
Posted on 12/20/13 at 6:41 am to I Love Bama
Is it fun being a slum lord?
Posted on 12/20/13 at 6:42 am to I Love Bama
quote:
Closing on a 3/2 in Huntsville, al today.
Purchase price $32,500
Damn. That's about what two parking spaces cost up here. And they don't come with central A/C.
quote:
20 year loan at 5.8 percent
Also damn, rates aren't anywhere near that high.
Posted on 12/20/13 at 6:44 am to foshizzle
quote:
Also damn, rates aren't anywhere near that high.
They are higher for rental properties.
Posted on 12/20/13 at 6:48 am to barry
House is worth about $65, 000.
Lower middle class renters are all I have. Good people.
Lower middle class renters are all I have. Good people.
Posted on 12/20/13 at 7:14 am to I Love Bama
Congrats on the purchase. I'm looking for the same on the south side fo the river. 
Posted on 12/20/13 at 7:29 am to I Love Bama
quote:
House is worth about $65,000.
quote:
Lower middle class renters are all I have
One is not like the other.
Posted on 12/20/13 at 8:27 am to I Love Bama
Is the market that depressed in Huntsville or is the house in need of significant repair?
Posted on 12/20/13 at 9:02 am to I Love Bama
My father does the same thing in northern alabama. Great business right now with how difficult it is for lower/middle class people to get loans through a bank.
Posted on 12/20/13 at 9:51 am to I Love Bama
If you live in Birmingham and the house is in Huntsville, who takes care of the maintenance for you?
Posted on 12/20/13 at 10:36 am to I Love Bama
Great find. I'm closing on a similar house in East Knoxville after Christmas but it needs a little bit more work than 2k. Can't beat section 8 renters!
Posted on 12/20/13 at 11:07 am to I Love Bama
Congrats.
Do you do a lot of your own work?
Do you do a lot of your own work?
Posted on 12/20/13 at 11:10 am to I Love Bama
Great find. I'm looking to get into this myself in the new year.
How do you find your houses? Do you have an agent that keeps an eye out for the type of house you are looking for or is it just word of mouth?
Do you do Section 8? How do you find tenants if not?
How do you find your houses? Do you have an agent that keeps an eye out for the type of house you are looking for or is it just word of mouth?
Do you do Section 8? How do you find tenants if not?
This post was edited on 12/20/13 at 11:43 am
Posted on 12/20/13 at 11:38 am to lsujro
Good find. Where in Huntsville is this?
Posted on 12/20/13 at 3:15 pm to yellowhammer2098
quote:
Good find. Where in Huntsville is this?
South of Sparkman Drive, North of University Drive.
quote:
How do you find your houses? Do you have an agent that keeps an eye out for the type of house you are looking for or is it just word of mouth?
Do you do Section 8? How do you find tenants if not?
MLS, investor friends, bank repo sites, etc.
No section right now. I've done it in the past and had a so so experience. May do another one one day.
quote:
If you live in Birmingham and the house is in Huntsville, who takes care of the maintenance for you?
I'm only an hour away. Dad lives in Decatur so anything that required immediate attention he could handle.
This post was edited on 12/20/13 at 3:18 pm
Posted on 12/20/13 at 3:25 pm to I Love Bama
Nice find . I'm checking out a 4k sq ft in Brentwood, TN under 300k with inspector tomorrow. No foundation/structural and it's a 100-150k flip.
. I'm checking out a 4k sq ft in Brentwood, TN under 300k with inspector tomorrow. No foundation/structural and it's a 100-150k flip. Posted on 12/20/13 at 3:28 pm to ItNeverRains
I'm too chicken to try flipping. Maybe one day. 
Posted on 12/20/13 at 3:40 pm to I Love Bama
Do you have a job in RE as well?
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