Birmingham Alabama Turn Key Investments

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Birmingham Alabama Turn Key Investments

Charlie Palmeri
Merrick, NY · Member since 2014 · 5 posts · 6 votes

I am a looking to purchase my first investment property, and I am giving serious consideration to turn key rentals in Birmingham Alabama. Being from NY, I have little to no knowledge of the areas in Birmingham. I am just scratching the surface of my research of the area, and wanted to get a feel for what any of you who have experience in this market think. Any areas to stay away from, etc??  The company I am thinking of working with is Birmingham Income Properties. Anyone have any experience working with them?

Any input is appreciated!!

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Clayton MobleyPro Member
Birmingham, AL · Member since 2014 · 875 posts · 947 votes
10y

Sorry for the previous mis-post above. 

@Bryan Miles Thanks for the plug on what I believe was my post on some of the best Alabama Class B Property zip codes. 

I know that there are a lot of good places for rental investment capital out there, but I think Birmingham deserves some credit for some recent success in business and real estate development. I should mention that I live and operate a turnkey and property management business in Birmingham, so I definitely have a bias, but I think there are quite a few tangible mentions about Birmingham and Alabama that a lot of people aren't aware of. Here are just a few:

  • The automotive business is booming in Birmingham with several expansions being announced for the auto manufacturers in our State. Currently we have Honda, Hyundai, Toyota, and Mercedes-Benz. Job creation for these companies has grown steadily over the last several years: 2011-9,800 workers, 2012-10,900, 2013-11,400, 2014-12,500, 2015-12,800. Also, the average annual wage for one of these jobs was $79,000 in 2014. Also a $600M expansion was recently completed to begin manufacturing the C-Class vehicle in addition to the current M-Class production.  
  •  31% of Birmingham of the Birmingham population has lived or resided at their current homes for more than 5 years. This stat gets overlooked a lot but plays a high determination on long term stability that many people should look closely at if you are considering a buy and hold strategy. 
  •  CNN Money ranked Birmingham one of the Top 10 housing markets due to it's previous growth in median home prices, and the publication's projected growth for the upcoming year. 
  • This year in Lausanne, Switzerland, Birmingham was selected to be the host city for the 2021 World Games. The economic impact of this is estimated to be $256 Million. 
  • In 2014, the Birmingham Metropolitan Statistical Area in all three of the following areas: Average Annual Labor Force, Real Gross Domestic Product, Annual Average Employment. Also over the last 3 years, we've seen positive population growth. This is definitely not a fantastic track record, but it's definitely made a positive turn after the previous near 10 years of population decline. 
  • This year ground was broken on a $3.2 Billion interstate extension that will connect and complete a northern loop around Birmingham City and connect all of its popular northeastern, northern, and northwestern suburban areas. 
  • Birmingham was rated America's Most Affordable City in 2015 by Forbes magazine. 
  • This affordability and the proximity of multiple higher learning institutions has led to tremendous millennial growth in the area. Birmingham was ranked #2 in the Nation for Millennial Homebuyer Growth by Builder magazine. The young professional growth was 58% in the City of Birmingham between the years 2010 and 2013. 
  • This year Zagat ranked Birmingham #1 for America's Next Hot Food Cities. Not Atlanta or Nashville, but Birmingham. Okay, so I went a little off topic with this one, but I'm a foodie, and it's part of the reason I decided to settle down here. 

Again, I understand that I am bias because I am really in love with the city, and it is part of my job to sell the City of Birmingham. BUT I can think of a lot harder sells. 

Hope this helps! Feel free to PM me if you want any other information. ALSO, if you want information on Birmingham, the Birmingham Business Alliance is a great resource for current economic data in the area. You can access the BBA website http://birminghambusinessalliance.com/

I hope I am okay to post that web address on here. The Regional Economic Growth Report that they publish really is a good resource for data of the area. 

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