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.

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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.