All Forum Posts by: J Smelser

Have any of you found banks that will do a 25 year amortization on single-families? I am ok with a  year baloon, just want to stretch it our beyond 20 years. If you have located these banks, which banks will do this? Thank you.

-J

Welcome @Pedro Ramirez - I am in Searcy, AR and invest in Jonesboro and the LR area as well. Hope to meet you at some point and wish you the best of luck starting your RE business. You can do it my friend!

I think are doing great. You took action, and only paying a few hundred bucks for your living quarters in DFW in a safe and appreciating area is good..I actually house hacked in DFW, and it was a great experience.

My advice: get the units separately metered ASAP. Second piece of advice: refi once you have been there 6 months to get rid of your PMI. This will cut a few hundred dollars off of your monthly payment and put you in the positive. Make a list of the improvements you have made to the property and give them to the appraiser before the appraisal is performed. You can get rid of your PMI if your debt is 80% or less of the new appraised value. In DFW w values rising quickly and having made renovations, I bet you can pull that off. Refi while living in the property to get owner occupancy financing terms before you move on. I believe you are required to live in the house for one year unless there is a job change requiring a different living location. Best of luck to you!

@jonathan Boyd Welcome my friend! I second what Eric said above about joining us at the next meeting. Look forward to meeting you!

Thanks to all. @abigail h. That is exactly what I did a few days back. I believe I have found someone. 

Fellow Investors,

I am in the process of getting my Arkansas real estate license. I plan to use this only on my own investment deals and am looking for a low cost broker to hold my RE license. Do you have any recommendations? 

Thank you

Welcome @James Wise. There is also a CARREA here in Little Rock. You can easily find it on google. Look forward to meeting you and best of luck to you.

Welcome @Andrew McCauley - I look forward to meeting you at the CARREIA meetings. 

Thanks guys. Anybody else that has any recommendations, please let me know. We have used Rainey and they have done a great job, but recently one of their staff said they weren't interested in managing anything valued under $100K. I am going to be reaching out to all your recommendations. Again, thank you @Mark Rogers and @Josh Eason

I need some recommendations please for good property managers in the Little Rock area. Much appreciated!