All Forum Posts by: Michael Koch

@Jehon Bendokas noob question...is there a good way to find property classes (ABCD)? or is it really just up to me to analyze that?

@Jehon Bendokas Thanks for that info. Been checking that area out, and seems solid. The crime there seems pretty high in some parts of LR, but Sherwood seems calmer. Been browsing the wholesale lists and deals seem pretty good (plus hard to beat those property taxes!)

Jumping on here after 3 years! Are folks still thinking that Conway, outlying areas of Little Rock are a good bet?

Hey folks, I'm new to investing in Little Rock area, and curious if anyone has advice on where to focus and where to avoid. Thanks in advance!

Soon to be anything over $600, right?

Getting the numbers right early on is challenging, whether its BRRR, flips, etc. Invest in yourself, put the time in, and get your numbers right and it'll get easier. Most of the lessons I've learned are around keeping to budget and finding out what is really needed for the rental. Surround yourself with a trustworthy team, and those 'lessons' will start to fade away as your team brings the experience to each deal.

Rain City Capital can lend in Arkansas and has a nice 30 year rental product.

It totally depends on your relationship with your dad and aligning your goals. I personally think going in with family can be excellent! I did a house with my sister and am now doing one with my mom. But the key is YOUR situation. For my sister's place, she would live in it and we renovated an ADU in the back together. Was great getting to spend time together and we now co-own a cash flowing property that also allows her to stay in the area on her modest income. With my mom, we will get a place that allows her to also stay in the area, but also set us up with income and future inheritance. Its a win-win.

From what you say about 'answering to him as your father' seems a bit foreboding to me. You're an adult right? Does your dad still see you as a kid? If he does see you as a kid or you dont see you and your dad as equals, I see a potential power struggle. That would be bad. The roles of the business partnership should be well defined in the beginning to avoid this.

I'll share what I know! We have a rental in Mt Scott that is a 2BD on the main house and we converted a garage in the back to an ADU ~300 sf.

1. Permits ran us about $2500. Dev costs are waived, and still should be. 

2. Seems very variable right? I'd treat it like any construction project though. 

3. I can share what w did, but sounds like you are looking at 800 sf, ours was 300. Not sure its of much use. 

5. Ours nets $1500 month on Airbnb for a studio. Hard to beat that, especially in outer SE.