BIRMINGHAM, ALABAMA THOUGHT?

4 Replies

I am an out-of-state investor from Florida looking in the North Titusville area 35211 zip. How does this area do with rental? Is this a transitioning area and good to get in now for long term (I am looking at 5-8 year hold). Any assistance I would greatly appreciate before I fly up.. 

Cody.

I'd recommend calling some property management companies in the area and asking them that question.

They typically will manage hundred of homes in the city and they can give you exact data on neighborhoods that they like to invest in right now. 

Originally posted by @Cody Becker :

I am an out-of-state investor from Florida looking in the North Titusville area 35211 zip. How does this area do with rental? Is this a transitioning area and good to get in now for long term (I am looking at 5-8 year hold). Any assistance I would greatly appreciate before I fly up.. 

 Titusville is a difficult area to rent for out of state investors. It can be done but it is the definition of block to block in Birmingham. 

You should never ask a PM for advice on where to invest. Their job is to manage your investment not steer you in the direction of an investment. What gives you the highest ROI is not what will make them the most money.

Example - a PM is not going to steer you to Titusville. That area might be your highest ROI because you don't spend as much money buying & renovating but rent for an amount that gives you a lot higher return than the 1% rule. A PM makes more money the higher the rent amount without the consideration for the investment amount from you.

Will I catch grief for saying that on here? Potentially but that's the truth. Everything in Real Estate is geared towards making whoever's involved the most money. That includes the investor, agent, PM, inspector, insurance, tax assessor, etc. 

As the investor you are the CEO so to speak. Run your business & hire the right employees. 

Jason- I appreciate the insight on the area. I agree with you, being a broker and a owning a property management company myself I would never ask. 

I notice that the city has adopted a Franework plan in 2015 which is why I am even looking in this area...  I like transition neighborhoods as long as the city is doing their part  

Bham PM here - will confirm what @Jason Cory said, I wouldn't recommend North Titusville. Like he said, it's really a street to street area. Will be hard to buy a good one there from out of state, little bit easier if you really know the area well and have boots on the ground to keep an eye on thing. Like anything else it's risk vs. reward. As Jason said, you might can get a little better ROI, but you've probably got a little more risk of vandalism, bad tenants etc. Even as a local investor, I'd spend a little bit more and get on a little bit better street. To me it's probably worth it in the long run.

I do personally like and own in South Titusville 35205. Little bit better area imo.