Many things are happening in the Mobile, AL that have me concluding that now is a great time to be buying properties. Obviously it's a buyer's market. Simple supply and demand. For investors, rentals are the way to go until the market picks back up in order to do flips to retail people. People that currently can not get financing need a place to live and it's up to investors to help this problem. If your rentals have positive cash flows then you can wait until the market swings back into the favor of the seller -- then the choice is yours -- sell and put money in a new rehab or continue earning passive income. I've got a local website I've started that will grow into the premier listing site for Mobile, AL investment deals.
Here are some positives I see currently for Mobile, AL.
1) There are talks of interest rates going to as low as 4.5%
2) There are approximately 3,500 workers moving to our area in March that are employees of ThyssenKrupp Steel
(If all of these people bought a home, theoretically, all of Mobile's current inventory would be sold)
3) People that can't get financing for homes have to live somewhere. They will rent from someone. Is it you?
If you are an investor, want to be an investor, or deal with investors as clients, you can network in Mobile through the local PMIC (Property Marketing and Investment Club). Even just by joining the website you can stay in the loop with deals and network with others in the real estate industry here locally.
Here's a link.
Happy Investing
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