Business
In episode 19 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins contribute to their March Market Madness series, putting a spotlight on the Mobile, Alabama market, the many reasons why this real estate market is on the rise, and the plentiful amount of business expansion in the Mobile metro area. Episode Highlights: March Market Madness is a focus on one of the major housing markets in Alabama every week in March. Post-Hurricane-Katrina recovery efforts in Alabama allowed for tax incentives for those doing new construction to be able to depreciate 50% of the value in year one. Mobile is an older seaport city and is where Marti Gras started. They have under 100 homes in the Mobile market and shows the least amount of lead activity. The Mobile metro population is 413,800 people. The cost of living in Mobile is 7% below the national average. The average days in Mobile above 90 degrees is 81 and the national average is 37. 2018 Airbus decided to do an expansion to their plant and revealed their plans in 2020. Austol is another big company driving economics in Mobile as well. Alabama and the Southwest region is the new Detroit for automobile production. Alabama has the second lowest property taxes in the United States. Jonathan and Bryan about the Mobile deep water seaport project’s impact on the market. Amazon and Walmart both have distribution centers in the metro Mobile area. Look past everything you think you know about a market. 3 Key Points: Mobile is the smallest real estate market in Alabama. The median price for a home in Mobile, Alabama is $151,000 and has increased 6.3% in the last year. The median household income in Mobile, Alabama is approximately $47,000 in 2019. Tweetable Quotes: “We started here in the Birmingham metro marketplace and we almost simultaneously did two expansions and part of the expansion model was to Mobile and that was following Hurricane Katrina.” –Bryan Jenkins (Mobile) “If the median price is $151,000, you are talking about a deal is probably floating around $100,000. You will be able to get in there at a reasonably low price and this is going to be one of those areas that buying in early is going to make you a lot of money.” –Jonathan Cook “If you are kind of shooting yourself in the foot right this minute because you didn’t buy into Huntsville five or six years ago, then buy into Mobile because this is where that was before.” –Jonathan Cook 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