Business
In Episode 18 of the Profitable Powerhouse Properties Podcast, kicking off “Market Madness March,” your host Jonathan Cook interviews Kim Furlow, a Realtor with AHI Properties. They discuss the details of the Montgomery, AL property investment market, from its biggest industries, transportation, and cultural attractions. Episode Highlights: Montgomery is a better market to buy in than Birmingham if cash flow is your priority. The median value in Montgomery is $120,000 with a median rent of $900. This gives you an income of about $11,000 per year, with under $1,000 in property taxes each year. Montgomery has the first North American Hyundai production facility that employs around 1,300 people and has an economic impact to the state of over $4 billion. Maxwell employs about 17,000 military, civil service, and contract personnel, with about 34,000 students going through there every year. These major employers mean housing demand is extremely high and makes Montgomery a great place to invest. Montgomery is within 600 miles of ⅓ of the entire United States population. It is centrally located to major interstates, an airport that accommodates 350,000 travelers each year, access to major rail systems, and the Alabama River giving you access to the port city of Mobile. Montgomery has a rich history and a lot of cultural sites including Martin Luther King Jr.’s home, the Alabama Shakespeare Festival, and more. A large conference and recreation center is getting built in Montgomery, which will further expand development and construction. There has been an 8.5% increase in tourism in Montgomery in 2018 alone. $15.5 billion were spent in the tourism industry in Montgomery in 2015, before many of these developments even happened. There are also A class homes in the suburbs outside of Montgomery, in towns like Prattville. Just in the first 6 weeks of 2020, they’ve seen a 10% increase in rental properties in the Montgomery area. 3 Key Points: Montgomery has low taxes and high potential for cash flow, so it’s a great place to buy rental properties as an investor. People are more likely to stay in a city that has things to do and feels like a community in the way Montgomery does. Montgomery is at the point in its growth that Birmingham was at around 10 years ago, so now is the time to invest. Tweetable Quotes: “We’re taking a lot of these historic homes & properties & renovating them, keeping the old touches & adding a contemporary flair, & folks want to be in those areas—walking distance to downtown, to a lot of these activities, the nightlife, it’s growing exponentially.” –Kim Furlow “When you add the Legacy Museum and other historic points of interest on top of the theatre and the baseball and this huge venue, you don’t have to drive to Birmingham or Atlanta.” –Kim Furlow Resources Mentioned: Check out our website ahiproperties.com Check out Birmingham Insurance Group online or call them at (205) 616-1107 Buy, sell, and own investment properties the way the pros do it with www.roofstock.com Email Jonathan and Bryan at Podcast@AHIProperties.com Email Kim at kfurlow@ahiproperties.com