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HomeUnion has announced that it has added Birmingham, Ala. to its list of active investment markets. Investors can now find fully vetted, SFR investment properties in Birmingham on the company’s Web site. HomeUnion also announced that it hired real estate veteran James Thornton, as investment location manager in Birmingham.
HomeUnion chooses its markets and properties using proprietary models that factor in home prices, vacancies, historical income trends, employment, local economy and population growth among other criteria. Birmingham meets HomeUnion’s criteria, with favorable cap rates (the relationship between rental income and purchase price) and a positive economic environment and outlook, the company said.
“The SFR market is evolving from do-it-yourself, hands-on investors who have bought and managed properties close to their homes to a broader segment of investors who are looking to build a portfolio of investments based on potential returns, not proximity,” said Don Ganguly, CEO of HomeUnion. “After thorough research, we added the Birmingham market giving investors a chance to invest in properties that offer long-term growth and cash flow in a historically stable real estate market.”
Thornton brings more than 10 years of experience in the Birmingham real estate market and most recently was brokerage partner with Avast Realty, in Birmingham.