💰 Immediate Cash Flow from Day One! - Start earning rental income right away — this property is already leased for $422/month. - With 30% down and 5-year owner financing at 3.97%, you can enjoy steady passive income while your tenant helps pay off your investment. - Your estimated monthly loan payment is around $819.74, meaning your tenant covers a large portion of your cost while you build equity. - Located in Belview Heights, Birmingham (Jefferson County), this 3-bedroom, 1-bathroom home offers approximately 1,318 sq ft of living space on a 6,969 sq ft lot. Built in 1940, the property is currently rented at $422/month, well below the market average, as Zillow’s Rent Zestimate suggests $1,041/month. The home presents significant upside potential for investors looking to reposition or improve a property and bring it closer to market rent.
- – As-Is Sale: Property is offered for sale “AS IS, WHERE IS.” Buyer is responsible for all inspections and due diligence prior to purchase.
- – Closing Costs: Closing costs are not included in the sale price and must be paid by the buyer.
- – Attorney Fees: All legal fees are paid directly to the attorney. Typical attorney fees are approximately $1,000.
- – Assignment Fee: An $800 Assignment Fee will be added to closing costs and must be paid by the buyer.
- – Financing Options:
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- * Fix & Flip → 10% down payment with a 5-year term.
- * Rent-to-Own and Ready-to-Rent → 20% down payment with a 5-year term.
- * Currently Leased properties → 30% down payment with a 5-year term.
- * A closing fee of 2.5 points or $2,500 minimum (whichever is greater) applies to all financed purchases.
- * All financing is processed through a third-party lender. The underwriting process—performed entirely by that lender—will determine buyer qualification and provide a complete breakdown of all fees prior to closing.
- * The Seller and QuitClaimIt have no involvement or decision-making authority in the underwriting or approval process.
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- – Tenant-Occupied Properties: Some properties may be sold with existing tenants. Seller will provide records of rental payments received up to the month prior to closing. However, Seller does not guarantee future rental payments, tenant performance, or continued occupancy after the sale.
- – Currently Leased Properties: Properties that are currently leased are available with two purchase options:
- * Cash offer, or
- * Financing with a 30% down payment and a 5-year term, subject to third-party underwriting review and fee breakdown.
- – Ready-to-Rent and Rent-to-Own Properties: Properties that are vacant and ready for rent offer two purchase options:
- * Cash offer, or
- * Financing with a 20% down payment and a 5-year term, subject to third-party underwriting review and fee breakdown.
- – Redemption Period: Properties are either within the redemption period or past the redemption period under tax deed rules.
- * If the property is still in the redemption period, buyers must confirm with Seller how much time remains and whether Seller has possession of the property.
- * If the redemption period has expired, the next step is to initiate a quiet title action (clearing the title) in order to obtain full marketable title.
- – Seller Possession: Most of our properties are currently under Seller’s possession, and their redemption periods have already begun.