All Forum Posts by: Eric Patrick Oden

If your primary becomes an investment property you should get some credit for the income it produces to lower your DTI, so it allows you room to buy a new primary. Best to confirm that with a mortgage broker.

What I would do depends on future plans for the property.  Is it in an appreciating area?  Will you return there in the next few years?  Will you want to live in it if you do?  What are the capital gains tax consequences to hold it and sell it later?  Homestead exemption and your property tax play a part in the decision too.

I live and invest in Fairhope and the surrounding areas however I have not done much foreclosure buying.  How can I help?

@Todd Brown may be able to help, too.

Navy Cove at Fort Morgan is good. HOA is high however since they have an assigned boat slip/lift marina to maintain. The property attracts vacationers and off-peak season fishing trip-type stays. Donna Dewberry

First off, we love Fairhope.  We live here and do the majority of our investing elsewhere.

The building department once told me as they eyeballed my flip, "Fairhope is a hotbed of real estate" is closely watched by the state and local officials.  So, I definitely agree that you need a locally respected Alabama Home Builder.  For example, a local HB knows that replacement windows have to meet the newest strength,  egress size and height, etc. and they must have hurricane shielding, like pre-drilled plywood or better.  This was a budget buster for me a few years ago.

I would contact:  

Bay Building Company, Kerby Custom Renovations, and Stockton Construction LLC.

There are other ones that I believe would do great quality work and they would also be priced more for a homeowner.

Best of Luck!

Anyone know about the bonus mentioned in the July 2020 email (see below)?

@Michael K. Smith

@Todd Brown sources investment properties in Mobile.

@James Oden

Balance coming off as dependable, stable and not frivolous.   A clean, stock pickup truck works here in the South with bankers, contractors and residents.

@Stephanie Pilkington

Including Daphne, it’s a solid bet that the Eastern Shore area will continue to be a bedroom community of Mobile. And Mobile continues to grow its multiple large industries.

@Tai Bhattad

@Lee Waldrop invests and manages property in and around this area.

Look up Revitalize Mobile and see what they have to say.