lake view, AL · Member since 2017 · 12 posts · 4 votes
I'm looking for someone who is knowledgeable with the housing market in the Birmingham and Tuscaloosa area. I'm fairly new to real estate investing. Looking for mentorship and/or a partner. Any suggestions?
Birmingham, AL · Member since 2014 · 875 posts · 947 votes
9y
Hey @Chase Ezell and @Zachery Buffin, glad to hear Birmingham is getting some more love! This city has been making waves lately, and for good reason. Our downtown area has had a huge revamp, we're one of the hottest destinations for college-educated millennials (which is great for the economy and future population growth), and our unemployment rate has been dropping steadily, https://data.bls.gov/timeseries/LAUMT0113820000000...
One of our team members worked up a pretty comprehensive report with some great stats on this market, so anyone can feel free to reach out via DM and I'll shoot it over, or you can download it for free over at Keith Weinhold's awesome site, Get Rich Education: http://www.getricheducation.com/project/117-birmin...
Like anywhere else, every neighborhood in Birmingham can change street to street, so you have to do your research about where the rental demand is. The best rentals (for passive cash flow) are typically in B/B+ neighborhoods (good demand, low tenant turnover, but not such high PITI that you lose all your rental income to the bank). If you're looking at Birmingham and want to know which areas are best for rental investment, check out this thread: https://www.biggerpockets.com/forums/311/topics/22…
Hope some of that helps! Feel free to reach out with any questions.
Investor · Away · Member since 2017 · 167 posts · 131 votes
9y
Its been said before, it will be said again, offer value to a mentor. Pure and simple, if you can't offer them something then you are just like everyone else in the world asking something for nothing. There are tons of guys here that could help and you can find them on BP but if you come with your hands and pockets turned out with a story about wanting to get started they will ignore you. Time is worth something, time is more valuable than money, it is just one of those things that we all know but for some reason newbies ignore too.
Offer to help them do some task they don't want to, drive by the house, do leg work, paperwork whatever. They will be much more willing to help someone doing something for them than they will someone just wanting to be shown how to make money.
Investor · Away · Member since 2017 · 167 posts · 131 votes
9y
I actually moved up to Tennessee from the Auburn area which has a Tuscaloosa as well but I can assume you mean the one near Birmingham haha. I would love to get to know the area too. I am looking to expand my buy and holds into northern Alabama as well. Huntsville is a priority but Birmingham is nice and I always liked the city when I would go visit.
Birmingham, AL · Member since 2014 · 875 posts · 947 votes
9y
Hey @Chase Ezell and @Zachery Buffin, glad to hear Birmingham is getting some more love! This city has been making waves lately, and for good reason. Our downtown area has had a huge revamp, we're one of the hottest destinations for college-educated millennials (which is great for the economy and future population growth), and our unemployment rate has been dropping steadily, https://data.bls.gov/timeseries/LAUMT0113820000000...
One of our team members worked up a pretty comprehensive report with some great stats on this market, so anyone can feel free to reach out via DM and I'll shoot it over, or you can download it for free over at Keith Weinhold's awesome site, Get Rich Education: http://www.getricheducation.com/project/117-birmin...
Like anywhere else, every neighborhood in Birmingham can change street to street, so you have to do your research about where the rental demand is. The best rentals (for passive cash flow) are typically in B/B+ neighborhoods (good demand, low tenant turnover, but not such high PITI that you lose all your rental income to the bank). If you're looking at Birmingham and want to know which areas are best for rental investment, check out this thread: https://www.biggerpockets.com/forums/311/topics/22…
Hope some of that helps! Feel free to reach out with any questions.