New investor in Little Rock, AR

[Matt Turner]

My name is Matthew Turner and I have been really interested in getting involved in the real estate market. I have no experience in the real estate market beside owning my own home. I have always lived in the Little Rock area.  I currently work in taxes at a large investment bank in Little Rock. I would love to have a steady income from a few buy and hold properties. The first house I would like to have on the market is the current house I live in. I have done my research in the area and feel like this would be a great opportunity. Does anyone else have experience with putting a house you currently live in and pay a mortgage on up for rent? How did that work out?

My farther has dipped his hands in the real estate market and have learned a lot from him and now I am wanting to get started.

I've been a member of BP for a while now but just now introducing myself.

Thanks!

[Paul Thompson]

@Matt Turner. I think this is a wonderful idea. I honestly wish I had done that on my own personal residence in the past. 

I recently heard a quote "Flipping houses can make you rich, holding house will make you wealthy"

Maumelle is a strong rental market. Houses actually aren't selling really strong out there right now. It's been a little stagnant for reasons I'm not clear on. I suspect it's a temporary phenomena. Regardless, you can hold and rent and enjoy cashflow, amortization, depreciation and hopefully appreciation over time. 

Buy smart on the next property and do it again. There is a local central arkansas real estate investor association (CARREIA). the website is www.carreia.com. It's a great place to learn and network. 

All the best

paul