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.