Real Estate Agent · Phoenix, AZ · Member since 2016 · 738 posts · 1k+ votes
So while although I live in sunny California, I have a close relative who lives in the MUCH cheaper Alabama market, specifically Pelham, about 30 minutes south of Birmingham.
I was wondering if some investors or real estate agents in the area can tell me what the local market is currently like, and what kinds of investing strategies (buy and hold? Fix and flip?) are currently working in the area. Thanks!
Real Estate Broker · Southeast · Member since 2014 · 175 posts · 63 votes
10y
@Wes Blackwell Birmingham is a great market for investing. The B & C markets here cash-flow very well so I'd stick with the buy and hold model. The fix and flip deals are there for the taking but the lack of appreciation here sometimes makes the numbers pretty tight making a strong understanding of the surronding neighborhood essential.
Real Estate Broker · Southeast · Member since 2014 · 175 posts · 63 votes
10y
@Wes Blackwell Birmingham is a great market for investing. The B & C markets here cash-flow very well so I'd stick with the buy and hold model. The fix and flip deals are there for the taking but the lack of appreciation here sometimes makes the numbers pretty tight making a strong understanding of the surronding neighborhood essential.
Birmingham, AL · Member since 2015 · 11 posts · 2 votes
10y
Wes
I am an associate broker and business development executive with Alabama Rental Managers (a locally owned and operated property management company), and we are the leaders in Birmingham's single family property management. We have several clients in California who we assist in purchasing properties as well as managing them.
Our sister company, Prominence Homes, builds between 250-300 homes a year across the greater Birmingham area, and roughly 15% of these new construction homes are built for investors as rental properties. The rental market in this area is FANTASTIC!
DM me with more questions and I would be happy to assist you.
Alabaster, AL · Member since 2015 · 2 posts · 0 votes
10y
As previous members stated the Birmingham Metro market is great for Buy and Hold! Pelham in particular along with the nearby cities of Helena, Alabaster, Calera and Chelsea, Alabama are areas in which our business capitalizes and see great future growth! In deed Buy and Flips are not great in this area do primarily to the amount of foreclosures since 2008 which slowed appreciation.
DM me if you have any other questions in regard to this market.