117: Birmingham Turnkey Real Estate Investing with Maureen McCann
Surprisingly, Alabama is one of the most economically forward-looking U.S. states. Here’s why, and here’s how you can profit from this at the right time in the business cycle by investing in Birmingham income property. Birmingham is Alabama’s largest city amidst a growing population, diverse economic sectors, and a business-friendly climate. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 01:01 Alabama is one of the most economically forward-looking states in the U.S. 03:44 Geopolitical Strategist Peter Zeihan’s remarks about Alabama’s top ability to attract foreign capital. 05:22 Disloyalty to markets. 06:14 Don’t be a flipper or landlord. Be an investor. 08:00 Maureen McCann interview begins; Birmingham’s business sectors. 10:14 The right Birmingham submarkets and neighborhoods. 12:17 Average $104,000 purchase price, $1,050 rent, 3 BR/2 BA, 1,500 sf. 15:55 Renovation extent. 18:41 Tenant retention. 19:39 Property manager communication with you. 22:10 When you close, property is occupied 96% of the time. 25:12 Turnkey Provider and Property Manager all in-house. 27:44 Tenant screening. 29:29 Alabama as a landlord-friendly state. 30:28 Geographic pitfalls? 32:32 Choosing the right team. 34:45 Minimum investment to get started. 35:22 Learn more at GetRichEducation.com/Birmingham 38:00 “VIMTM.” Resources Mentioned: GetRichEducation.com/Birmingham NoradaRealEstate.com TheRealAssetInvestor.com/GRE MidSouthHomeBuyers.com