All Forum Posts by: Derrick Carpenter

@Alina Trigub thanks for the association recommendation.  I am going to reach out.

Matt Pritchard thanks. I will send you a message later today and appreciate the response.

Hi Dan Handford . Thanks for the info. I am going to reach out to a these contacts. My partner is in Charlotte and maybe it would be good to have you two meet. We both work for BofA and I get to CLT a lot. Would be great to grab a drink or lunch if you are open to it. Let me know Thanks Dc

Good Morning Everyone,

I am trying to network with some Kansas City Metro multifamily investors. anyone have any recommendations of people active in the KC market on bigger pockets?

Thanks

Derrick

Wanted to ask this question one more time to get some more thoughts. Thanks.

Hello everyone,

I have a rental property in Bentonville, AR. This home is a A property in an A neighborhood and was my personal residence prior to moving from Bentonville 4 years ago. I rented the property to a mid-level executive at WalMart headquarters 4 years ago and they have paid like clockwork every month. The home is about 8 years old, so the up keep is low and a hail storm just allowed me to put a brand new roof on it at no cost.

Currently I rent the house out for $1,800 per month. With a 15 year mortgage on the home, I am still able to get about $150 of cash flow per month out of this house. The renters are paying off the mortgage roughly $8K per year for me based on a 4 year run rate. The house is worth roughly $240K and I owe roughly $135K on the property.

While this has been a good rental property for me to learn on and it has shown me the value of a class A property, I am not sure this type of property would be one I would purchase today to add to my portfolio. So, the question is, would you keep this house or sell it and get the equity out to go get more cash flow properties?

Is there anyone out there that has made this area of the market their niche and could discuss with me a plan for keeping this property and potentially getting more like it.

All thoughts welcome.

Derrick

@Pan Forysythe welcome to the site and wish you success.  Sounds like you have a good plan to get started.

Derrick

Nice.  I have sfr's but this makes me want to look at multi family.  Congrats

Nice.  I have sfr's but this makes me want to look at multi family.  Congrats

'@MarkHolencik thanks for the advice.  

Hello all,

I constantly hear that you make your money on the "buy" in real estate. I agree with this, but I feel it is causing me to analyze and expect too much out of properties. Therefore, making me not do any deals. I am finding deals where I can purchase the home and rehab it for less than the market value, but it is 88% - 95% of ARV ($5K - $10K upside). The deals cash flow after (capex,vacancy,maintenance, etc....) and allow me to continue to add properties. I am a long term buy and hold investor (> 10 year horizon) and I am not looking for cash flow to live on, but rather put away for a rainy day and reinvest back into the properties or purchase new ones over time.

So the question is, in a time where these are the deals in front of me, do I keep adding properties or do I wait for the market buying opportunities, whether through locating harder to find deals or the market shifts?

thoughts?

Derrick