Considering Birmingham, AL for My First Real Estate Investment

[Dzung Doan]

Hello BiggerPockets Community,

I hope this message finds you well. My name is Dzung Doan, and I am embarking on my journey into real estate investing. I'm interested in a buy-and-hold strategy for rental properties and am keen on creating a passive income stream. I have an initial investment capital of around $35K-$50K, with an additional $3K-$5K saved per month. My plan is to finance my investments primarily using conventional loans, with a down payment of 20-25% and a 30-year mortgage.

One of the markets that has caught my attention is Birmingham, Alabama. I am attracted by its diverse economy, increasing population, robust rental demand, and relatively favorable rent-to-price ratios.

However, as I'm currently based out-of-state, I would greatly appreciate the input and advice of those familiar with the Birmingham market. In particular, I am interested in:

1. The characteristics of different neighborhoods in Birmingham, including their investment potentials
2. Your personal experiences, both challenges and successes, from investing in the Birmingham market
3. Any recommendations for local teams - real estate agents, property managers, contractors, etc.
4. Any specific strategies that have proven to be successful in this market

Moreover, I would welcome any advice on potential pitfalls or important factors to be aware of when investing in Birmingham.

I am excited to make well-informed decisions and start my journey in real estate investing on a strong note. Any insights, advice, or recommendations that you could provide would be greatly appreciated.

Thank you in advance for your time and your help. I look forward to learning from and growing with this community.

Best regards,

Dzung Doan