Properties in the 35215 and 35235 zip codes present great opportunities for real estate investments. Our local investors already realize the abundance of opportunities in these two zip codes alone. But out-of-state investors not only need to know where to look, they need to know where “not to look” for investment properties.
It’s unfortunate that 35215, at one point, had the highest number of foreclosures in the entire metropolitan Birmingham area. The mortgage crisis took its toll on 35215 homeowners and as unfortunate as that may be, it created an opportunity for investors to acquire properties for great prices and instant equity in many cases. An added bonus is that many investors brought added value to their properties via enhancements and upgrades.
While experienced investors are known for having a strategic plan and objectives in place, less experienced investors are not always so well equipped with an action plan. Chief among considerations for investors are the terms for which they need to make the acquisition happen. Know your budget (for purchase and repair). Know what kinds of properties you’d like to buy (criteria) and what amenities you’d like the houses to have. The more you know about your goals, the more your agent can assist in finding the idea properties. Working with a Realtor(R) can be very helpful in determining what common attributes are selling and in what areas. This is of particular importance when it comes to buying investment properties outside of your home state. Confidence in your real estate agent is the first step to a long-lasting agent/investor relationship.
Your real estate professional does not have to be an investor, but having an agent that also invest could possibly enhance your investing experience. For more information about viable investment properties in 35315, 35235 zip codes and in other metropolitan Birmingham area, contact me and find out how we can work together to reach your real estate investing goals.
Knowing where not to buy is just as important as knowing where to buy.