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All Forum Posts by: Eric Patrick Oden

Eric Patrick Oden has started 3 posts and replied 35 times.

Commercial Real Estate Investing

Post: I’m a new investor in the Gulf Shores, AL area...

Eric Patrick OdenPosted
  • Flipper/Rehabber
  • Fairhope, AL
  • Posts 39
  • Votes 13

Next PIG meeting is 6:30 pm, Monday, 3/11/19 at the Mobile Convention Center.

It's good a networking group and with a very concise training focus at each monthly meeting.

1 Vote
Mobile (Alabama) Real Estate Forum

Post: Out of state beginner looking at Mobile,AL

Eric Patrick OdenPosted
  • Flipper/Rehabber
  • Fairhope, AL
  • Posts 39
  • Votes 13

You could find yourself in less than a D neighborhood in Prichard and east of I-65.  There are good neighborhoods in the midtown, etc. so I'm not painting with a broad brush.  Try searching crime maps and maybe ask about a specific area.  

https://www.neighborhoodscout.com/al/mobile/crime

1 Vote
Mobile, Alabama
Mobile (Alabama) Real Estate Forum

Post: Out of state beginner looking at Mobile,AL

Eric Patrick OdenPosted
  • Flipper/Rehabber
  • Fairhope, AL
  • Posts 39
  • Votes 13

The market is good in Mobile.  $30k-$80k can buy you fixer uppers in B to C class neighborhoods in Mobile and Baldwin County.  

Look for home values listed at $100k or better as a general starting point for good neighborhoods.  However, I have one that's in a median of $60k and it's fine, too.

What's your goal and strategy, though?  Buy and hold?  Flip?

2 Votes
Mobile, Alabama
Mobile Home Park Investing

Post: How do you value MHP with POH

Eric Patrick OdenPosted
  • Flipper/Rehabber
  • Fairhope, AL
  • Posts 39
  • Votes 13
Is it Cap Rate of pad NOI + resell value of mobile homes? $103,200 NOI / 10% Cap Rate = $1,032,000 30 POH * $10,000 resell value = $300,000 Park value or sell/buy it for $1,332,000?
1 Vote
Insurance

Post: Insurance Broker - Mobile, AL

Eric Patrick OdenPosted
  • Flipper/Rehabber
  • Fairhope, AL
  • Posts 39
  • Votes 13

Roux insurance is in Mobile.  Ask for RC.

0 Votes