Out of state beginner looking at Mobile,AL

6 Replies

HI All,

Long time lurker, first time poster.

How's the market in Mobile? My wife and I have friends in Daphne and while we would love to buy there it is outside our price range. We're seeing lots of properties in Mobile in the 30k-80k range which we could pay cash for but not sure what areas are decent B-C class neighborhoods. Any help is greatly appreciated. Thanks!

The market is good in Mobile.  $30k-$80k can buy you fixer uppers in B to C class neighborhoods in Mobile and Baldwin County.  

Look for home values listed at $100k or better as a general starting point for good neighborhoods.  However, I have one that's in a median of $60k and it's fine, too.

What's your goal and strategy, though?  Buy and hold?  Flip?

Thanks for the reply Eric! That gives me some hope. We are definitely buy and hold investors who don't mind some work after the purchase to make it rent ready. Starting off will probably be 1 property a year, paying cash, with the goal of having enough income to retire early.

Are there neighborhoods or area's of the city we should avoid? 

You could find yourself in less than a D neighborhood in Prichard and east of I-65.  There are good neighborhoods in the midtown, etc. so I'm not painting with a broad brush.  Try searching crime maps and maybe ask about a specific area.  

https://www.neighborhoodscout.com/al/mobile/crime

I'm a newbie investor in Mobile Al. I bought my first investment property in midtown Mobile for 42k. The house is in excellent condition and I have had no issues keeping it rented. I just closed on a second property a block away from the first. It's a section 8 with a 3 year tenant and I purchased it from a whole sale company for 30k. It needs some repairs but it wont be outrageous. I'm personally not interested in any potential rental properties over 55k, and I'm not a flipper. There are great deals in Mobile in this category.  I'm looking at another one next week. I found it easier and cheaper to purchase these types of homes through whole sales and using a hard money lender. Also insurance tends to be cheaper north of I-10 because of flood zones. good luck! 

I agree with Eric about the D class neighbor hoods in Prichard.  Don't forget about the tax properties and there are some real good buys, but ya got to look at them, no purchasing over the internet.  you will only want the ones with a DEED and not a LIEN.  Remember the houses can be moved to a different location.

Bill

Originally posted by @Brent Albrecht :

HI All,

Long time lurker, first time poster.

How's the market in Mobile? My wife and I have friends in Daphne and while we would love to buy there it is outside our price range. We're seeing lots of properties in Mobile in the 30k-80k range which we could pay cash for but not sure what areas are decent B-C class neighborhoods. Any help is greatly appreciated. Thanks!

Brent have you made a move yet?  I'm originally from Mobile looking to invest there as well.  Now would be ideal because from what I'v been reading and assessing, things are ticking upward.  Still a lot of great deals there to be had.  I'll be there over Labor Day weekend to look myself.

 

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