Birmingham Alabama is probably one of the last places that come to mind when you think of real estate. This historic southern city is known for a lot of things, but real estate just isn’t one of them. However, that all stands to change as many investors are gaining interest in properties throughout the city. After giving up a career on Wall Street, an investment banker named Kenneth decided to relocate to Birmingham Alabama to invest in some rental properties. According to Kenneth, “Turn-key rental units really sounded good to me. But I wanted to go with the best firm. I didn’t want to worry about broken toilets and other issues. But it turned out to be great. So I took a trip to Alabama.” During his visit, Kenneth build a relationship with Clayton Mobley, CEO of turn key real estate company, Spartan Invest, and the two immediately went to work. Kenneth says, “Building a relationship with Clayton (Mobley) was an important thing for me. Clayton understands that property management is the core of his business. And that was important to me too.”
Both men believe that people willing to invest in property in Birmingham can really see a great return with Mobley citing rates anywhere from 9 to 18%. He says that the number of older properties in the city that need to be renovated give investors a lot a pretty wide selection. Mobley, who has been working in Alabama for years, started investing in Birmingham real estate back in 2009 and now buys and sells approximately 150 properties every year. With men like Kenneth and Mobley working hard to transform real estate in the city of Birmingham, the possibilities are certainly endless. Mobley also notes that millennials and retirees have been key investors, and have played a huge role in the growth of his company. If Kenneth and Mobley are able to duplicate this time success in other places throughout the country, they could give the market a much needed boost.
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