All Forum Posts by: Jacob D.

KJ, thank you so much! We would love any points of contact you have for Mobile. We’re prepping for the move now and hoping to find a deal in the first few months of being out there. Feel free to DM me. 

Thank you again

Hello all, my wife and I are moving to Alabama in 8 months and I’m looking to get my foot in the door with the Alabama real estate community and hopefully begin forming relationships and getting in contact with local professionals as soon as possible. I’m really interested in the Mobile area, as that is where we are moving to, and I’ve started to look into Birmingham as well.  I’m looking for a rental property, preferably multi family, to hold and rent. 

If anyone has any advice, points of contact for wholesalers or real estate agents, or just wouldn’t mind letting me know about your experience in the area I would appreciate it!

In many of the recent Bigger Pockets podcasts there has been discussion on strategies for running the numbers and calculating the potential cash flow when searching for a deal. In one particular podcast, they mentioned that one of their buy criteria's was that the cash flow per door on a multi-family deal should be over 100$ for their respective location. 

I was wondering if anyone could offer any advice on how you are running these numbers and key characteristics you're looking for when calculating the potential cash flow? Specifically, is there a standard down payment percentage that most investors use when calculating their potential mortgage? How does the 1% rent to value ratio rule work into these calculations?

I know this is fairly broad but any advice would be appreciated! Thanks!

-Jacob Dodge

Thank you everyone for the advice. I appreciate it. 

@Jason Carter Could you DM mused with those details as well. I’m fairly interested in how you’re working that. Thanks. 

I purchased my first home a little over a year ago in San Diego, CA. I am currently paying well over the mortgage but I have become increasingly interested in purchasing a second home as an investment property. My question/concern is what I should do with my money now to prepare/enable me to purchase a second home in the future. 

Should I continue to put more money into my current home than required, or should I do something else with this extra cash in order to allow it to accumulate and enable me to put money down on a second property? Any recommendations on investing this extra cash until I accumulate enough to put 20% down on a home?