Alabama Statewide

Property

Sample Units:

Why This Provider?

  • They are one of the original “build-to-rent” providers in Alabama, providing these homes for over 2 decades.
  • Management are investors themselves, so they understand what type of home and service investors are looking for.
  • They add a personal touch to the entire process from signing the contract, to closing on the home, to working with their in-house property management team.

Team

Property Management:

Get Pre-Approved:

Prior to contacting this provider, if you plan on conventional financing, please consider the following. You will likely need:

  • A down payment of at least 20% for single-family homes and 25% for multi-families
  • A low debt-to-income ratio
  • 2 years of job history with a U.S. company or 2 years of self-employment history
  • Six months of reserve funds
  • A credit score of at least 680 (higher, is ideal)

In order to prepare for your pre-approval, start gathering the following documents. Your lender may require more documentation, but you should be ready to provide copies of these documents, at a minimum:

  • Last 2 paystubs
  • Last 2 months of bank statements (all pages should be included)
  • Last 2 years of tax returns and W2s

Market

Market Profile:

Alabama has been a favorite of investors over the last several years. The state is very pro-business and boasts some of the lowest property tax rates in the nation. The median home value is lower than the national average and rents have appreciated approximately 12% in the past year. Major corporations in Alabama include Encompass Health, BBVA Compass and Auburn University.

Quick Facts:

  • High net in-migration from other states.
  • There is an influx of companies relocating their headquarters to AL.
  • Growth is occurring in many sectors including medical, retail and industrial.
  • Real estate is affordable.

Population: 4.893 million
GDP Per Capita: $247, 092
Cost of Living: 82.3 (100 = Average in US)
Area: 52, 419 sq. miles
Elevation: 500 ft (Average)
Region: The South
Time Zone: Central

Resources

Map:

Economy:

Climate:

Video:

You need an account to view this content!