All Forum Posts by: Micah Dingler

same to you, how have you been going about it with everything being shut down this last year?

Investment Info:

Single-family residence buy & hold investment in Little Rock.

Purchase price: $80,000
Cash invested: $20,000

3 bed 1 bath fenced back yard with carport

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

pocket listing from realtor. small home. turn key property

How did you find this deal and how did you negotiate it?

realtor found it, he guided me as to make decent offer with market as crazy as it is.

How did you finance this deal?

conventional loan

How did you add value to the deal?

turn key property. just need paint. older couple going in to nursing home just needed money for their care.

What was the outcome?

bought it a few weeks ago appraised for a little bit higher than purchase cost. a friend was helping paint and suggested a renter. now rented for a year

Lessons learned? Challenges?

if it's a good deal find a way to make it work. negotiate with property owners to bankers. just get the deal

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

robert richardson again

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $112,000

3 bed 2 bath 2 car garage fenced backyard, 5 yr old house

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

childhood friend's home. they wanted pay off to move to larger home

How did you find this deal and how did you negotiate it?

childhood friend reached out to see if i was interested in buying house for pay off.

How did you finance this deal?

during refinance of 4th house, i asked banker if i could loan against the equity in house #4 to use as down payment for this house, #5. stopped #4 refinance and refinanced both at the same time. they were both refinancing and closing individually.

How did you add value to the deal?

refinaced #4 for a few hundred dollars more and got another house with it. helped my friends out to get to a bigger house

What was the outcome?

purchased 2 houses. appraisals came back higher than thought. just recently paid off #5 and refi #4 again for a cheaper note.

Lessons learned? Challenges?

use the equity in homes if possible, try to keep your cash as much as possible

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

robert richardson guided both parties to make deal work

Investment Info:

Single-family residence buy & hold investment in North Little Rock.

Purchase price: $127,500
Cash invested: $80,000

4 bed 2.5 bath 2 car garage fenced backyard, small storage building on side of house

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

bought house being a foreclosure. initially bought as a flip. demo house myself. repaired what i could. contracted out what i could not. tried to sell with no success. decided to rent it out and refinance.

How did you find this deal and how did you negotiate it?

realtor friend was scrolling through mls. made offer after walk through. after 3 months of negotiating. finally closed

How did you finance this deal?

construction loan for a year, then conventional

How did you add value to the deal?

neighborhood didnt sell homes often. i knew it would appraise for a high dollar amount

What was the outcome?

fully updated and modified house. eventually rented for its market valued rents

Lessons learned? Challenges?

different standards for flipping and renting. contractors are mostly lazy and lack efficiency. if you can do it yourself, by god, DO IT. otherwise youll be there babysitting contractors. even if you can manage 1-2 hours a day to do something progressive, youll still work faster than most contractors there for a week at 8 hrs a day.

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

yes but she is no longer an agent

Investment Info:

Single-family residence buy & hold investment in Maumelle.

Purchase price: $90,000
Cash invested: $20,000

3 bed 2 bath single car garage fenced back yard

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

estate sale

How did you find this deal and how did you negotiate it?

pocket listing from realtor made offer from suggestion from realtor

How did you finance this deal?

conventional loan

How did you add value to the deal?

virtually turn key property

What was the outcome?

bought house , had instant equity at closing, little to no repairs needed

Lessons learned? Challenges?

good realtors are hard to find with investments, but if you do find one ....trust them

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

robert richardson: realtor

Investment Info:

Single-family residence buy & hold investment in Maumelle.

Purchase price: $85,000
Cash invested: $20,000

3 bed 2 bath 2 car garage, fenced backyard

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

pocket listing from realtor, cheap price for area

How did you find this deal and how did you negotiate it?

pocket listing from agent, made offer from what realtor suggested to start negotiations

How did you finance this deal?

conventional loan

How did you add value to the deal?

bought house as is, needed cosmetic work, made offer

What was the outcome?

bought house and instantly appraised higher at purchase

Lessons learned? Challenges?

find more deals like this. know what to look for when walking through property

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

robert richardson: realtor

Investment Info:

Single-family residence buy & hold investment in Maumelle.

Purchase price: $116,000
Cash invested: $25,000

3 bed 2 bath single car garage, fenced backyard

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

needed place to live

How did you find this deal and how did you negotiate it?

realtor friend. offered pay off

How did you finance this deal?

conventional loan

How did you add value to the deal?

learned a lot about closing, the area, and what to look for when i made a walk through of the property

What was the outcome?

purchased it, lived in it, and now renting it

Lessons learned? Challenges?

negotiate more or walk away

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

robert richardson, he is a realtor