All Forum Posts by: Andre Jones

Off market, word of mouth, facebook, tax deeds & liens, wholesale deals. Yes, people can redeem within 3 years but I haven't done a foreclosure deal yet so I'm not sure how that works. As far as tax deeds, people have redeemed but you get your money back so it's still a good investment. 

Yes, we were fully shutdown for while but now people are going back to work and kids back to school smh. I have seen a lot of foreclosures pop up on Zillow, way more foreclosures than private sellers. That''s not my forte of real estate though so a more experienced investor could fill you in better. 

Yes indeed, I'm a native Mobilian and come from a real estate family. I mainly invest in the 36603, 04, 05 zip codes.The market is going up, OGD (Oakleigh Garden District) has experienced a bunch of flips recently and pushed property values up considerably. Houses that were 20-40 thou recently sold for 100-125 thousand within 6-8 months.

I feel it's a good time to buy, pre-covid prices were lower. I know I missed some good opportunities not pulling the trigger.

I'm not too sure what the market is looking like in West Mobile or west of I-65. 

Avoid Prichard

@Odie Ayaga Yes, most likely. Unless I want to try to do a HELOC on one of the other properties.

Good Afternoon BP Community 

I'm trying to figure out the best way to move forward in my real estate investing.

I recently inherited a property that still has a mortgage on it of about 50k, estimated value around 150k. It has significant sentimental value so selling or renting it is out of the question. I also have two other SF properties, one valued around 45k and the other 30k, both owned with no mortgage or refinance. The house valued at 30k has a ADU in the back that needs 20k rehab. I have an opportunity to purchase another home valued around 40k for 28k from a family member. I have a fair credit of 650, what do you seasoned investors think the best way to proceed? HELOC, Refinance, portfolio loans? Rehab loan, hard money? I feel like I'm missing something that could make this situation easier for me. I have 10k in cash and can scramble up another 5k in private money if need be.

My RE strategy is buy and hold, I haven't done any flips. I come from a real estate family, I always had to cut grass, install locks but I have to manage the business side and I'm looking all the advice I can get.

@Matthew Ladner Just checking in to see how it worked out for you. I'm thinking about my marketing my SFR by the room for college students as well.

I haven't heard anything of that, from my understanding this upcoming election is supposed to be a changing of the guard in the Prichard leadership. The previous mayors stole all the money for the city and better representation is upcoming but that remains to be seen.

Prichard is an buy and hold part of town. If you're not local, or playing with 30k plus you'll be better of buying in Mobile. However for local investors, rentals in PA are making money. Also it's election time and the people of Prichard are tired of the corruption and I believe a new local government will elected and may change some things around in a positive way.