All Forum Posts by: Matthew Ladner

We had trouble closing so we have only had the property about a week now. Getting it listed this week, so we will see 

@Andre Jones undefined

are you meaning per room or entire side? This duplex is in a nice area and pretty expensive. I was thinking renting it out by the room, so 4 bedrooms at $400 or $450 per month. The property is 185k per side, so at $450 per room I could get $1,800 per month. 

I am looking to do my first deal with a house hack.  There is a very nice Duplex in Mobile.  It is a new build in a nice area and also very close to the University of South Alabama. I am having mixed emotions due to all of the competition with large apartment buildings in the area.  I am just concerned with renters not choosing to rent the one side of the duplex that I am not living in, when they could rent an apartment with much more amenities.  The one side I would rent is a 4 bed, 3 bathroom so I could possibly rent it by the room to separate students or just hope for a nice family to rent the entire side.  Single rooms with bathrooms rent for $600 - $700 per month in large apartments, so if I have a price point of $500 per room I may be able to get tenants and easily cover my expenses. The goal here is not to make boat loads of money, rather to just offset my personal housing expense to save more money monthly.  Any experience renting houses in the area of the college with all of the competition?

They are  on two separate lots inside of a small sub-divison.  For an example one building is addressed by numbers 121 and 123, and the other building is addressed 109 and 111. But Thank you for the reply! I am going to call some community banks in my area today

So i am looking at four units, two separate building that are each a duplex. I would like to get a first time home buyer loan, and my fiance and I are going to live in one unit and rent out the other three. Im wondering if a bank will allow us to do a first time home buyer loan with a lower down payment since there are two buildings?? Anybody else ran into this before??

Thanks for the reply. I have seen some in Gautier but I am looking for more of a B or even B+ property. Most there are usually C or lower just because of demographics 

Hey everyone just curious on others opinion of a possible deal in Ocean Springs, MS.

I am looking at two duplexes side by side in a small subdivision with working class tenants. They are currently all occupied with one unit renting for $1,000 and the other three for $900 per month. 

So, gross yearly income of $44,400

Insurance quote is $3,000 per year

Taxes are $2,500 per property, so $5,000 per year total

Tenants pay electric and water. 

The asking price is $540,000, which i know is very high if you are wanting the 1 percent rule. I would offer the $370,000 that is the 1 percent rule and see what the owner says. He is apparently highly motivated due to moving out of the state. I also will be needing to pay a property management company because i travel for work. 

Thanks in advance for anyone opinion!

All I asked was if anybody knew a good Real Estate Agent in Mobile, AL and it got flagged for advertising?? What is wrong with this thing.