173: Real Estate Investing In A Thriving Market
Don’t move to a low-tax state; let your tenant do it. Quit investing only for the long-term. I explain both. Alabama is the #1 state for per capita foreign direct investment. We discuss turnkey real estate investing in Birmingham, Alabama. A revival is taking place in Birmingham amidst economically diverse business sectors. Long-term tenant retention occurs in Birmingham submarkets due to: 2-year leases, tenant-owned appliances, more. When you purchase a turnkey property, you’re also “purchasing” a tenant and their income stream. We discuss. It takes about $24K-$25K to “get into” this market with down payment and closing costs on a turnkey single-family home. We also discuss how a real estate investor gets started: lender pre-approval, writing an offer, inspection, appraisal, etc. Learn more and find Birmingham property at GetRichEducation.com/Birmingham. I bring you today’s show from Orlando, Florida. Want more wealth? 1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my new, best-selling paperback: getbook.at/7moneymyths Listen to this week’s show and learn: 01:14 Don’t move to a low-tax state. Quit investing only for the long-term. 06:14 Thriving Alabama and the revitalization of Birmingham. 10:00 Downtown Birmingham. 16:05 Primary market drivers in Birmingham: medical, automotive, Amazon sortation, education. 18:46 Neighborhood selection. 21:10 B-Class properties $80K to $125K. $1,000 rent on $104K property. 22:22 Tenant retention. 26:12 Property upgrades. 30:20 Tenant qualification. 32:38 Same rehabilitation company and management company. 36:00 City inspectors. 38:26 How you get started: lender pre-approval, writing an offer, inspection, appraisal, etc. Resources Mentioned: GetRichEducation.com/Birmingham RidgeLendingGroup.com ValhallaWealth.com GREturnkey.com GetRichEducation.com