What's the market like in Mobile and Baldwin County?
Hi everyone, I was just curious how the market is these days in the Mobile area. People I have talked to just usually say it is "getting better", but I'm not getting a ton more info. Would you say it is buyers, sellers, neutral market? Are things pretty steady? Did Airbus bring a lot more activity to the area, is anything else relevant going on? Thanks everyone, hoping to get some regional conversation started.
Hey everyone..I am a licensed agent in Louisiana and Alabama and currently practice in the Mobile DMA. I spent about 10 months living in Baldwin County (City of Spanish Fort) when I first moved here and it is certainly more of a bedroom community for Mobile workers. Lots of buyers in Baldwin County (Spanish Fort/Daphne/Fairhope), great school districts, newer homes, new developments, lots of chain restaurants and businesses. I live in West Mobile now and have seen things moving in the right direction. Interest rates are down and anything under 200k sells really fast. It is amazing how much home you can get here for the price. In Lafayette, Louisiana I could only afford about a 1800-2000 sqf home. I just purchased a personal residence here that is 3200 sqf for the same price as I could afford back home.
Although licensed, my focus is on assisting investors with rental property, fix and flips, and personal investments (both long term buy and hold and flips). I successfully wholesaled a deal to an investor a few weeks ago and unfortunately just lost another deal to a probate issue but otherwise the market is strong under 250k. I've found Mobile to be extremely hit or miss and that location is of the utmost importance here. West Mobile, Saraland, and Midtown are starting to boom, however, pick the wrong street and the returns are extremely diminished.
I'd love to chat about the market with anyone who has specific questions or concerns. Inbox me! Happy Investing!
Hello all, I am glad to have found this thread...I have not found much forum activity since I moved back to Mobile. I am new to real estate investing, but have been building my knowledge base for the past year. I would like to connect with some professionals here in Mobile.
I have been watching West Mobile...it seems to be that market is more stable. I am interested in using the BRRRR method to build a Buy and Hold portfolio, and the stronger rents seem concentrated around Old Shell and Airport and Schillinger area. Anyone have any input?
Does anyone have any thoughts on investing on real estate in Orange Beach, Al particularly? I have heard that long term rentals are hard to find in that area. One reason I believe is the price point of property vs rental rates. Thanks for any info!
They are extremely hard to find in Orange Beach and Gulf Shores. Plenty of properties for sale but they don't cash flow. The ones that do meet investing criteria are only listed for hours maybe minutes before they are gone. We have a short term rental in that area that does well but have owned it many years. I'm also afraid that particular market is on the verge of being irrationally valued. Obviously this is only my humble opinion. 😃
@Sherry Houston
May want to consider Foley for long term rental. It’s just north of the beach and has a strong employee base for all the attraction and beach businesses.
@Eric Patrick Oden Yes, I have looked there as well since purchase prices are lower. Was wondering about whether something closer in for the beach business employees that can't afford to own close to work! Good idea, thanks!
@Eric Patrick Oden would like to know your opinion for flip market of Mobile AL?
@Vincent Chen
Depends on your criteria. For me, it’s an overall good market to flip in. It has deals and contractors available with a good economic outlook.
@Eric Patrick Oden Good to know that,I am vetting AL market for my flips. So can I know normally the expected profit on average B class flip in Mobile? Thanks