Doing my Due Diligence in Market Research for Birmingham!
Hello Everyone!
I am new to BP here but am hoping to learn as much as I can and down the line contribute my own knowledge and experience. I am currently looking at investing in the Birmingham Real Estate market and have been doing some independent research, but thought I would reach out to the community for some insights into this market. Thank you in advance for all your help!
Cheers,
Chris
Originally posted by @Chris A.:
Hello Everyone!
I am new to BP here but am hoping to learn as much as I can and down the line contribute my own knowledge and experience. I am currently looking at investing in the Birmingham Real Estate market and have been doing some independent research, but thought I would reach out to the community for some insights into this market. Thank you in advance for all your help!
Cheers,
Chris
I have a SFR in Birmingham that I purchased as a turnkey in 2015. Let's connect and I'll be glad to answer any questions I can.
Hey there @Chris A., I recommend checking in with @Doug Johnson if he's actively invested there. That's the best place to start. If you need more info, we have developers in the Birmingham area we can connect you with to further your due diligence effort. Just out of curiosity, why Birmingham?
Cheers.
@Grant Diggles I started my research through a process of finding reputable turnkey providers and narrowed it down to a couple providers. While vetting each provider, I am also simultaneously doing my market research to see if there are opportunities.
@Chris A. Very good. I think you'll be able to find opportunities through most of the midwest that will perform similar to or better than Birmingham, so I'd say you're on track. Sounds like you're taking care of business though. Let me know if I can be of any help as you move forward. Congrats on getting started!
@Chris A. Hey Chris! You're on the right track by vetting sound turnkey providers and property managers. PM is quite often what makes or breaks a good investment. I have several SFR's in Birmingham and am more than willing to share my experiences. PM me if you like.
I have several SFRs in North Shelby Co, as well as lower end homes in Midfield, West End. etc. I'd be happy to help if you need info about these areas. I manage myself but share office space with a PM company that I have found to be solid if want a referral to them.
Some of the top markets
1. Charlotte-Concord-Gastonia, NC-SC
2. Orlando-Kissimmee-Sanford, FL
3. Baltimore-Columbia-Towson, MD
4. Cincinnati, OH-KY-IN
5. Jacksonville, FL
6. Birmingham-Hoover, AL
7. Tampa-St. Petersburg-Clearwater, FL
8. Indianapolis-Carmel-Anderson, IN
9. Milwaukee-Waukesha-West Allis, WI
10. Nashville-Davidson-Murfreesboro-Franklin, TN
- Birmingham and Cincinnati had the lowest median investment sales price at $70,000.
Why Invest in Birmingham, AL
As the largest city in Alabama, Birmingham is also one of the biggest commercial banking centers in the country as well and home to numerous colleges such as University of Alabama, Samford University, Cumberland Law School, and Miles College.
In addition to education, the steel industry has played a large part in the economy, and the downtown skyline is comprised of the Wells Fargo Tower, Federal Building, AT&T City Center and many others. With a culture built on hard work, economic progress, and family, Birmingham is a proud American city.
General Facts- Named “Magic City” due to its fast population growth during the height of the nation’s manufacturing age
- 48th in population among the nation’s top 300 metropolitan areas (City of Birmingham Website)
- Largest city in the state of Alabama
- Consistently rated as one of America’s best places to work and earn a living based on the area’s competitive salary rates and relatively low living expenses (Under30ceo.com)
- Jefferson County IB School is in top 25 “America’s Best High Schools” (Newsweek 2011)
- One of the largest banking centers in the U.S (Wikipedia)
- The city is investing over $1 billion to revitalize the downtown area into a 24-hour mixed-use entertainment district (Downtownbatonrouge.org)
- The city is home to “the Oscars of dining” winner from James Beard Foundation (Birmingham Visitor’s Center)
I buy in Birmingham. It is a great city and I happy to help
@Chris A. When searching for a market I almost settled on Birmingham however I had a difficult time building a team and getting sufficient information on the public record. I'm a wholesaler naturally and at the time I wanted to build my rental portfolio simultaneously so Birmingham didn't do it for me. I eventually settled on another market where cash flow is king and property information is readily available! Keep searching for the answers my friend and the information will come to you. One more thing to add, Purchasing turnkey rentals in theory is a good idea however you will pay a premium for the service. Many times you will be purchasing property at or very close to market value. Now if you have a war chest and can afford to leave 25% of your money into each deal then your a better man than I. I was always taught to never rely on others to do something for me that I can do for myself. And with that said I've built my own real estate team, source my own deals at deep discounts. Always remember to persist and you will WIN!!!
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Developer
- IKEPTIT Real Estate LLC
@Chris A. Birmingham is a great place to invest where you can get good cash flow from your investment. Look up Bryan Miles. He was a wealth of information on the area and is as honest as the day is long. He will shoot you straight. For full disclosure, he works with a company that I have a loose affiliation with, but I would encourage you to connect with him. Your time will be well spent.