Diversifying by providing income streams from multiple asset types, such as stocks, bonds, precious metals and from multiple sectors within the Birmingham real estate market helps to ensure security against any sector’s downturns. Because time works in your favor when you invest in real estate, the sooner you begin, the greater the wealth. Rental rates also tend to keep pace with inflation, so investing in real estate protects against increases in the cost of living in your lifestyle.
You can have peace of mind and enjoy a golden retirement through your passive income when you locate and purchase great real estate investments. So read on as we explore five ways to expand your Birmingham real estate portfolio.
Flipping
Finding bargains and rehabilitating them into highly desirable properties and then reselling them in a brief period, known as flipping, is a fast way to earn a large amount of cash to use for further investments to expand your Birmingham real estate portfolio. It’s helpful to build a team with the mindset of an investor. When looking for fixer-uppers or distressed properties, working with someone experienced with house flipping, professional buyers like those at Alabama Real Estate Deals have spent years building a reliable and efficient team ready to jump into action.
Residential Rentals
Residential rentals may be single-family homes, multifamily properties with up to four units or vacation rentals to expand your Birmingham real estate portfolio. Multifamily properties offer the opportunity to house hack, living in one unit to offset your housing costs. You must assess the property location, the neighboring community, amenities, crime rates and upcoming plans for improvements. Professional buyers like those at Alabama Real Estate Deals help you find great investments that will hold their long-term value.
Mobile Homes
While mobile homes may not be your first go-to when considering expanding your Birmingham real estate portfolio; however, they make great investment properties. As a bonus, they are typically much lower in value than other residential rentals and therefore offer entry into Birmingham real estate investing with less upfront cash. Professional buyers like those at Alabama Real Estate Deals know the intricate nuances of mobile homes and can help you avoid making costly errors in locating one or more investment properties.
Land
From buying land to hold and allow to appreciate, developing the land into commercial or create a subdivision of housing to expand your Birmingham real estate portfolio. Mobile home parks offer high returns with fairly low oversight. Explore all these options with professional buyers like those at Alabama Real Estate Deals who can help you find the right land for your investment goals.
Alabama Real Estate Deals
The best way to expand your Birmingham real estate portfolio is by working with the seasoned local Birmingham real estate investment pros at Alabama Real Estate Deals. The professional buyers at Alabama Real Estate Deals can answer your questions and set your mind at ease. At Alabama Real Estate Deals, we know many creative and exciting ways to help you to. The professional buyers at Alabama Real Estate Deals spent a career in the local Birmingham market as investors and knew the importance of working with a reliable team with the mindset of an investor. At Alabama Real Estate Deals, our professional buyers keep a vigilant eye on upcoming trends in real estate, changes in zoning and other equally impactful matters so you can adjust your exit plans as needed. Your success as a real estate investor will also hinge on having the skills to meet the highest property management standards, keeping in mind that returns on investment property reflect the level of property management skill. So why not learn the ins and outs of property management with the help of our top-notch team at Alabama Real Estate Deals? Call Alabama Real Estate Deals at 2058082682.