Any Birmingham, Alabama Multi-Family Landlords on here?
Just curious if we have any Birmingham, AL multi-unit land lords and if so do any of you have experience in some of the lower income areas around the northeast and slight northwest sides of the city?
If you are here, where do you see your rents going over the next couple years? I know there are some downtown developments taking place and I hear some conversations that something about the lower income areas should be done but is there any short term upside in rents or occupancy that might be still a little concealed, in your opinion?
Do you think rents in those areas are a little depressed in general or are some of the depressed rents ($300 to $400) due to simply poor ownership? We think we are seeing some upside to some rentals (in DD) we are looking at and we think there is a bit more of a market trend closer to $500 to $600 (2 BD/1BA) with good management.
Any other relative or even random market insight is more than welcome.
Thanks.
