No matter what market you’re in, there are always those who think it’s “too risky” or “dangerous.” But let me show you how I would break down a deal in one of those markets!
One of the 15 cities listed as being “the most dangerous” was Birmingham, Al and this is a market that I am considering investing in! We recently visited Birmingham to get a feel of what areas of town we would want to buy in.
Check out one of the listings I found here: https://rb.gy/7oxb2
This is being advertised as a quadplex consisting of four 1 bedroom 1 bath units at a listing prcie of $169,000.
Below is an example of the spreadsheet I created and use whenever I am analyzing deals.
Note: The rent estimations were pulled according to the rent estimator on Bigger Pockets.
As you can see, there are still many cash flow opportunities out there! Don’t let the news scare you! In my coaching program, I teach how to break down the numbers to avoid buying deals and losing money.
This makes me think of a student I recently had in one of my investor cohorts. She was an existing investor before she joined my program but as she went through my course, she learned how to run numbers and discovered she actually wasn’t making any money on her current rental. We got together and after a few short changes, were able to get her up and running.
If you’re curious what the best next steps are when locating a deal, reply back or comment below to let me know!
Talk soon!
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