Starting from Scratch in Alabama

[Ashley Cote]

Hello! I'm Ashley! I'm 23 and looking to invest in a small multifamily by 25. If you have any advice, I'm willing to listen and learn! I'm starting from the very beginning. I'm saving for a down payment as best I can trying to learn as much about investing and renting as possible so I'll be ready to jump in once I finish saving for a down payment. :) I plan to finance with the FHA, possibly coupled with a 203K loan if needed.

[Keric Allen]

Ashley,

Good for you in taking the first steps to investing in real estate. You've already got some great advice. Start thinking about why you actually want a multi-family property in Mobile? Every market is unique. What type of tenants are you hoping to attract? Will multifamily properties attract that type of tenant. Start to identify how much a multi family property in Mobile will cost you, which will vary depending on what areas you want to invest in.  Keep in mind single family homes in Mobile can be very inexpensive in that area! You have a lot of time so keep learning and saving. 

Keric