All Forum Posts by: Andrew Clifton

I have noticed this. The locals around here have told me it's illegal to wholesale in Arkansas.

I know that Arkansas is trying to make it illegal but I do believe that at the time it is not illegal.

Although I don't have a license. Is this the reason why they tell me this or could it be that they have no knowledge of it. No one actually sat down and talked about it with me in full details. I'm just trying to clear up this confusion before I jump into anything that could possibly get me in deep trouble with the law.

Dose any one know a good attorney in Arkansas that knows how to Double Close and that could help mentor me about how to legally whole sale properties in Arkansas.

Thanks
Andrew Clifton

Iv been figuring around $20,000. That would bring me back up to 232,000 I would like to keep my payments low as possible.

By the way its TurnKey with management

I'm not too familiar with hard money  lending .I need help with the acquisition. I'm not too sure on how long on the loan I could use some help with that. There asking $240,000 for a 12 unit 6105 square feet with a lot size of 8102. Built in 1965. 4 units 2 / 1 going for 550 a month 8 units are 1 / 1 for 450 and 100% occupied with a cap rate of 20.18%. Gross income $70,800 Operating expenses $22,348   Net operating income $48,451                                                                Monthly income 5800  I just use the 50% rule for some quick math but that's $2,900 for expenses and loan payments if I could make 600 to $700 a month I'll be happy but thats also why I need help with the loan.
All tenants are on government Aid so rent is paid continuously
 My first thought was to offer 232,000  but I feel like that's too strong of an offer. So after a while I came up with $213,000.
Please let me know what you think.

I need to find available financing in Arkansas for a commercial multi family apartment. It's a great deal!! Still have some due diligence to do. 

Another thought I had was should I be looking for a rental hard money loan? 
I don't think it's necessary though.

We are rebuilding a house that we purchased not too long ago we do all the work and pay ourselves through the business. We got this house through a traditional loan. One mistake that we made it was not getting the rehab through the loan as well. So my question is our budget is running out and we're already tied up and in a loan. What would be a good way to come up with the money that we need to finish the project. We only suspect that 5,000 should be enough to finish. Any ideas on what to do in this situation.

Thanks for the advice!

Mountain Home AR is a really great place to visit if your into boating and fishing! The festivals are nice as well and car shows, plenty to do around here.

The seller left alot of antique furniture, family pictures, China bowls and cups, and just alot of stuff.

Alot of it is just trash but at the same time alot of it has value. It's kinda digging into our time frame we have set.

What would you do if you were in this situation?

Drop valuable stuff at an auction, take things that aren't really valuable but can be used and donate for tax write off, and just throw trash away.
This is the approach we are using now but we are doing it ourselves and still eating our time frame.

Simple question I'm just curious to find out a more creative way to handle something like this.

Quick question! 
I already have a loan out on a property and it's not a FHA loan. Can I still get a 203K loan?