All Forum Posts by: John Thibodeaux

I enjoy working with my hands so the rehab work doesn't scare me away from an eyesore.

Absolutely! This area is growing super fast not only because it's a great place to live but also due in large part to the Walmart Home Office construction nearing completion in Bentonville and the subsequent requirement for employees to move to the area to work in the office. However, there is a critical housing shortage already. I don't see many affordable, nice multifamily units. It has also come to light that the sewer infrastructure can't handle any new large residential developments so some development permits just aren't being granted until the infrastructure catches up (years from now) thus stifling the housing market even more. A few years from now, I'd like to get to the point where I can buy lots to build 2-3 multifamily units and hold for rental cash flow. For now, I figure that I need to fix and flip to build the capital for those projects. Are you a lender?

 Yeah, I'm looking for a property that's in rough shape, but I'm willing to take on a major project if the price is right to begin with. Thanks for letting me know what kind of financing you encounter. That's good to know!

 Yeah, that's definitely something I'd consider. I'd prefer something a little bigger like  between 1,400 and 1800 sq ft

I'm looking for a flip under $100K. I'm not afraid to take on a distressed house that needs a lot of work with a turnaround of 2 months.

I'm also interested in a multifamily to keep as a rental.

 It's about $137K.

 I went back and checked. My current loan balance is $137K.

And TYFYS as well! The Navy has been a huge help with getting me to where I am today.

HELP! I'm a Navy reservist, a part-time ICU nurse, and over the past few months, I've set up an LLC, bought a condo in Fayetteville, AR renovated it mostly by myself and already have a tenant. I'm eager to do more projects like flipping, tax deeds, foreclosures, auctions and buy-and-hold deals, but most of my capital is tied up in the rental property now so I don't know how to move forward. I can do a lot of renovation work on my own. I'm willing to learn, research properties, attend auctions, do non-permit renovation work myself, etc. I get a meager, steady income as a nurse. I also get an annual bonus through the Navy that I could put towards a down payment, but that only comes once a year, and I want to grow my portfolio FAST! I just need someone to advise me on how to take that next step to add doors to my portfolio when all of my capital is tied up in my first property.

I bought the rental property at $168K and the assessment came back at $192K before closing. I paid about $34K as my down payment and then dumped about $10K into new flooring, fixtures, paint and vanities so the property should now reappraise at about $210K.

Any advice for an eager, driven, goal-oriented newcomer? Anyone need an investment/boots-on-the-ground partner in the Bentonville, Rogers, Springdale, Lowell, Fayetteville area?

Is there anyone in the NWA (Northwest Arkansas) region that would be willing to mentor or partner up? I'm a Navy reservist, a part-time ICU nurse, and over the past few months, I've set up an LLC, bought a condo in Fayetteville, renovated it mostly by myself and already have a tenant. I'm eager to do more projects like flipping, tax liens, foreclosures, auctions and buy-and-hold deals, but most of my capital is tied up in the rental property now so I don't know how to move forward. I'm willing to learn, research properties, attend auctions, do non-permit renovation work myself, etc. I just need someone to advise me on how to take that next step when all of my capital is tied up in my first property.

I bought the rental property at $168K and the assessment came back at $192K before closing. I paid about $34K as my down payment and then dumped about $10K into new flooring, fixtures, paint and vanities so the property should now reappraise at about $210K.

Any advice for an eager, driven, goal-oriented newcomer? Anyone need an investment/renovation partner in the Bentonville, Rogers, Springdale, Lowell, Fayetteville area?