All Forum Posts by: Andre Jones

Do any of the lenders that replied here lend in Alabama? 

What part of AL are you thinking of investing in?

Are you still having meet-ups? I'm looking forward to joining the next one. 

I'm curious to know what happened with the bird? 

Thanks for the advice, my father was pretty good with paperwork. I'm going to go back through them and double check as well as pull the bank accounts and see what I can verify.

Good evening 

I'm getting ready to start the probate process for my father's estate and I spoke with two of his "tenants" who are claiming they had some rent to own or lease purchase agreement with him prior to his passing. My father had mentioned in conversation that one of his tenants had defaulted on a rent to own a few years ago but he never told me specifically who it was. 

I haven't been able to find any paperwork verifying their claims from my end and I asked for a copy of their agreement and was told they needed to find it. When I pressed for more information, they were kind of stand-offish and stuttering. My instincts tell me they are lying but I want to cover my butt as well. 

Is this type of thing common when homeowners pass away? If they are valid, do I have to honor this agreement since it's not a "lease"? If they were late or missed a payment say in March, could I still default them on the contract now in August? 

@Eric Martin I'm an investor in Mobile and Escambia County. I would like to start investing in Montgomery as well. 

Thanks for your input. 

Good day BP fam 

I invest in Alabama and there's 3 new prisons being built. One will be constructed in a city I invest in and possibly thinking having a second residence. I was thinking that prisons brings jobs so the rental market may increase. But I was also thinking that the prison may lower real estate values in the city and may jeopardize any BRRRR or refinancing I could do in the future.

I own one rental in the area, my father owns a house on the same street and was recently appraised for 63k.  An fixer upper home recently came on the market right down the street (35k). There's a new construction home being built right next door to the fixer upper. So that kind of makes me want to jump on it but I'm the prison situation kind of has me in limbo. 

Has anyone experienced something similar in their real estate experience?

AirBnbs will be upcoming review from the city council, there have been complaints from neighbors of AirBnbs and it has brought negative attention. If the city council doesn't run them out or overtax them, Airbnb's in the downtown area is a solid investment. I'm not sure about west mobile, I focus on the 36603,04,05,06 areas. 

Rental market is strong in Mobile though and flippers do well in certain areas.