Thank you for your preliminary inquiry.
Please submit to me a signed and scanned, Letter of Intent with your Highest and Best Offer. And the name of your property inspector so we can coordinate a showing.
I don’t really have an asking price cause I’m too busy to figure it out. Go ahead an put in your offer assuming items are in stabilized order. If there are any glaring issues we can deduct it and get the deal done. The 5th ave, I just put in 15K of work this past month… it can be sold retail or you can turn it into a turnkey. You are basically buying it from a source (me) where I’m not trying to screw you on the deal and I try to manage issues that come up with the property as efficiently as possible.
And sorry I will not divulge how much leverage I have on this property because it is respectfully, none of your business. Also, I will not be doing seller financing (There were a couple of you who asked). Maybe you asked because it is a past joke of which you tell people “between the lines” to go screw off when someone has a ridiculous price and you inquire about seller financing. Sort of like when you don’t get selected for a job and they tell you they will “put your resume in the file.” Anyway it made me chuckle 😁
I am taking the equity that I built up and is now lazy – SimplePassiveCashflow.com/roe
After selling 7 out of 11 of my turnkeys in 2018 and blowing up my AGI… I am looking to sell the last four in 2019!
Two of my Turnkeys in Alabama are good pickups for you turnkey buyers.
I’m not desperate to sell (so don’t give me anything 10% off fair price)… that’s just annoying and wasting everyone’s time. I think I try to be transparent with everyone that these are solid properties with nothing hidden issues. The neat thing about buying from me is that you know that they are proven assets with a decreased change of buying a dud. Plus you can use my team in place so it would be very turnkey.
I’m hoping we can do a direct sale and save on the commission costs.
1) 509 20th Ave, Birmingham, Alabama – my most solid rental of all. Still with a renter in there since 2016. Rents are $875 a month.
2) 2109 5th NE, Birmingham, AL 35215 – tenant moved out a few months ago and we were rehabbing it with $20K of upgrades. Video
Here are the comps (sold properties within half mile of the subject property ).. https://galmls.paragonrels.com/publink/default.aspx?GUID=54d00a6d-9dc1-4c16-b02e-5f2543e09723&Report=Yes%20%20%20
The average price per square foot is 78.26 you home has 1,008+/- square footage so $78,886.08 for retail sale. But this is a freshly rehabbed. Our plan is to wait till spring February to sell to buyer.
I would encourage you to get your own inspector ($300) and we can split the lawyer fees to sell with title warranty and do the paperwork.
|Square Feet||Address||Year Built||2017 Rent||8/2017 Zestimate||2016 Market||2017
|Zillow Link||2017 RentOmeter
|Rentometer Link||Roofstock list|
|1,250||509 20th ave NE, Birmingham AL 35215||1961||875||63,000||78,100||71,640||900||https://www.zillow.com/homes/509-20th-ave,-Birmingham-al_rb/||580||596||https://www.rentometer.com/results/jkHxCQjT0Zg||75,251|
|1,750||2109 5th NE, Birmingham, AL 35215||1971||921||65,355||71,003||850||https://www.zillow.com/homes/2109-5th-NE,-Birmingham,-AL-35215_rb/||575||583||https://www.rentometer.com/results/lZjeuNbvaIY||94,071|
I spent a lot of time driving Birmingham. Let me know if you would be interested in joining me on a trip out there.
And if you are looking for the latest referrals to turnkey companies let know… if you are in the club.