Buying to flip is still a risky proposition. However, Hollywood is a niche area where it can be profitable if you can buy the property right. I would be conservative and figure holding cost at double the average days on the market. This neighborhood demands highend finishes, quality work and lots of architectural details so a quick paint and flip is not advisable. Higher end homes sales are up 25% in 2012 and I expect this to continue trending. Feel free to contact me to discuss your specific goals.
The Fred Smith Group
Cant go wrong with any of the areas. Also, Shelby County which is slightly south of Birmingham is a great option. Typically, you can get a bigger home for a smaller price the further south you go into Shelby. Good luck.... more
I would try and talk to a lender/mortgage broker about the options you have as far as getting a loan with poor credit. You may have to make a larger down payment but it is possible.
Please refer to my blog post about getting a loan with bad credit. (Link below)
But again, the best way to get the best answer you seek would be speaking to a lender and see what happens. If you do not currently have a Realtor that you're working with, please contact me. I would be happy to assist you with any further real estate needs or questions you may have.
Isiah Youngblood, RealtorÂ®
cell 205.994.4592... more