Jetsetters in Alabama?July 17th, 2013 by The JetSetter Team | Comments Off on Jetsetters in Alabama?
Birmingham boasts a dense and growing medical and banking industry. It also has a lower than average cost of living. This makes it a perfect place to invest, especially for new investors who have a limited amount of capital.
There are actually several places in the Birmingham area that would offer quick passive incomes to investors. However, one property in particular is really worth checking out. It would be a fantastic place for a young or new family to rent and a perfect place for a young or new investor to buy.
Built in 1945, it is a cute 978 sq. ft. home located right in Birmingham. It has ample curb appeal and is placed in a wonderful neighborhood in close proximity to schools, churches and plenty of shopping. It has two bedrooms and one bath. Also, knowing how important it is in the South, central air is a key selling point of this house.
The asking price for this property is a mere $48,000. That, in itself, is not much at all for such a great space. Yet, with a down payment of $12,000 and $1,680 in closing costs, the initial investment would be under $14,000. It’s worth repeating; this property is perfect for investors with limited income.
After all expenses (including the mortgage) are considered, there should be a gross equity income of $374 a month, or $4,491 a year through the first year. Every year this will go up and, after ten years, this figure will end up around $6,700 annually. Not bad for an initial investment of less than $14,000.
Boiled down, you will be looking at a 33% total return on your investment after just one year. This figure assumes an 8% vacancy rate, a 10% management fee, and 3% equity share.
Jason Hartman has over twenty years of experience working with this type of investment. However, if you are still not convinced this one is worth it, then be sure to get in touch with one of Jason’s expert and friendly investment counselors and ask them lots of questions. They won’t mind. Promise.
Most importantly, check it out yourself. A list of numbers and an attached picture is no substitute for the real thing. After seeing the place and doing some of your own research, you will be convinced.
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The Jetsetter Show Team