Mobile, AL New Member

[Greg Mercer]

I've been reading on Bigger Pockets for about the last 6 months and finally joined. My name is Greg Mercer, I live in Daphne, AL and just got my first investment property under contract in Mobile, AL.

I'm excited about the deal I got, its a Fannie Mae REO, 3/2 originally listed at 135k back in September. They've done a few price drops on it and I now have it under contract for 59k. Most comps in the area go for around 100-110k. I should get $950 a month in rent after putting about 4-5k in rehab into the place. Doesn't quite meet the 2% rule but its in a great area and will still cash flow.

I just wanted to introduce myself and share about my first deal.

[Russell Norgren]

Welcome to BP Greg! Feel free to contact me if you would like to chat about the Mobile area. Don't forget that there is the Port City Real Estate Investor's Association which is a great source for information and for meeting other investors.