117: Birmingham Turnkey Real Estate Investing with Maureen McCann

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 6 January 2017

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#117: Surprisingly, Alabama is one of the most economically forward-looking U.S. states.

Here’s why, and here’s how you can profit from this at the right time in the business cycle by investing in Birmingham income property.

Birmingham is Alabama’s largest city amidst a growing population, diverse economic sectors, and a business-friendly climate.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:01 Alabama is one of the most economically forward-looking states in the U.S.

03:44 Geopolitical Strategist Peter Zeihan’s remarks about Alabama’s top ability to attract foreign capital.

05:22 Disloyalty to markets.

06:14 Don’t be a flipper or landlord. Be an investor.

08:00 Maureen McCann interview begins; Birmingham’s business sectors.

10:14 The right Birmingham submarkets and neighborhoods.

12:17 Average $104,000 purchase price, $1,050 rent, 3 BR/2 BA, 1,500 sf.

15:55 Renovation extent.

18:41 Tenant retention.

19:39 Property manager communication with you.

22:10 When you close, property is occupied 96% of the time.

25:12 Turnkey Provider and Property Manager all in-house.

27:44 Tenant screening.

29:29 Alabama as a landlord-friendly state.

30:28 Geographic pitfalls?

32:32 Choosing the right team.

34:45 Minimum investment to get started.

35:22 Learn more at GetRichEducation.com/Birmingham

38:00 “VIMTM.”

Resources Mentioned:

GetRichEducation.com/Birmingham

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate, the real asset investor, and Mid-South homebuyers.
0:11.4	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires
0:22.1	and billionaires than anything else, and can provide you with more wealth and happiness
0:27.4	than you ever thought possible. Now, here's your host, investor, entrepreneur, business
0:34.3	owner and educator, Keith Weinhold.
0:41.0	Hey, welcome to get rich education. This is episode 117. I'm your host, Keith
0:45.6	Weinhold, back to help you build your wealth. We're talking about turnkey real estate investing
0:50.8	in Birmingham, Alabama today, and people have a lot of misconceptions about
0:56.1	Alabama. And you know, everyone that has that misconception has never been there. Alabama is one of
1:02.6	the most economically forward-looking states in the U.S. if they're not number one. So let's take a
1:09.5	top-down approach here for you. We had geopolitical strategist Peter
1:13.2	Zion here on the show twice last year, and he let us know what places are positioned to be
1:18.2	prosperous in both the nation and the world. Well, within the United States, he tells us that, for
1:24.8	example, for a whole host of reasons, that New York City has got a ton of
1:29.7	things going for it and that it is positioned to continue to be very prosperous for Brexit and a lot of
1:36.7	other reasons in the foreseeable future. Well, New York, that's already basically the world in the
1:42.8	national capital for finance and for fashion and for culture and for media.
1:49.1	And, you know, New York's becomes such a desirable place to live that it's also the capital of population and population density.
1:57.0	It's a fascinating place to visit. I love it there.
2:00.5	Incredible infrastructure there.
2:02.3	Bridges, airports, museums, everything. Well, I wouldn't invest in New York because I can't get
2:09.1	monthly cash flow with a small down payment on a residential property. That's because, for one,
	...

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