All Forum Posts by: Keith Hill

@Ryan Bono I have been a full time agent in Little Rock for the past 18 years and would love to help.  I will message you. 

Do you mind sharing the issues behind your problem tenant? I have bought five empty SFH and used the BRRRR method. Would love to get into multi family, yet hesitant to make the jump. Inheriting tenants is one of my blockades.

Hey Mike, my thoughts are that it just depends on your own comfort level. I have heard of people that keep a lot in reserves and some that do not. My wife and I were just talking about this with our deals. We have five SFH are are wanting to get a reserve account to $50K and then will feel comfortable. That gives us a peace of mind that a new roof or HVAC will not set us back. Hope this helps some.

Thanks Marc!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $88,000
Cash invested: $25,000

1st investment to get us off the fence! It worked.
20% down, conventional residential loan.

What made you interested in investing in this type of deal?

A necessary purchase to get us off the fence. This was our first purchase after having listened to BP podcasts for about 18 months; joined BP community in September of 2018.

How did you finance this deal?

Conventional residential loan, 20% down

How did you add value to the deal?

Added about $2500 of our own money for very light cosmetic updates and did the work ourselves.

What was the outcome?

Rented within 5 weeks after purchase.

Lessons learned? Challenges?

It was easy. Easier than we thought, yet we left more money in it than we wanted...so on to find a BRRR!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have been a full time REALTOR for 13 years in the Central Arkansas market (Keller Williams Realty).

Hey Courtney! Welcome to the joy ride of investing. I have been purchasing rentals for two years now, currently have four SFR with a fifth under contract. I am a local real estate agent in Little Rock. I will message you and we can meet up sometime to mastermind ideas.

Hello BP! I have just closed on our third property and it will be our second BRRRR. Does anyone have a work timeline that they would not mind sharing? I am wanting to keep my contractor and myself on the same page. Thanks for any help/insight on this!

@Michael Doherty you took the words out of my mouth. As an agent and investor I can see both sides.

Make sure you know what your parameters for properties are. Narrow down what it is your looking for and don’t send the agent something that does not check all your boxes.

As said above, this market is difficult to find anything on the MLS that the numbers work out.

Communication is key, have a detailed conversation followed up by an email with what your parameters are.

Best of luck!

@Jonathan Denney that might be a good idea.  My property is not near any hospitals.  I am going to use a Property Mangager, so I will pass along your idea.  Thanks!

@Joshua Myers I did go through with the purchase.  Started the rehab yesterday with my dad.  My wife still has her W2, so we can squeeze by for a while.  I have a few closings on the calendar (I am a Realtor).  Prayers it passes quick.