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All Forum Posts by: NaDean Bowles

NaDean Bowles has started 8 posts and replied 134 times.

Post: Making the offer. Full Price or reduced price

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

It cash flows well with the current dated state, without upgrades.  I would not put in an offer you know you aren't going to stick to, it only makes you look bad.  I would add in what you know you are going to do, the immediate needs, and make the offer pending inspections.  You can make your offer lower with the upgrades that would make it look better or you can use that point as a bargaining chip when they want to haggle.  

Have you discussed terms with them?  I would make a cash offer that includes everything you want to fix, an offer of some money now and yearly installment payments; and a monthly cash flow offer that is higher/closer to what they really want.  

Post: Need Advice on Development Land

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Ronald Rohde and @Joe Hughis, thank you!

Post: Need Advice on Development Land

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Joe Hughis, I was just speaking to him about this and we got cut off.  Do you have an example of a market study?  I'm guessing local numbers for homes and businesses wrt $/sf, viability of businesses, how many people are moving in and out, COL, etc?  

Post: Anybody investing in Arkansas and/or Hot Springs to Benton area?

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

Hi @Justin Jones, do you have time to meet for coffee in LR?  I'm looking at buying a MHP in LR and have been studying these things for a couple of years and talking to friends who have one themselves and have the system down.  

Post: Need Advice on Development Land

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Ronald Rohde, raise 80/20?

Post: Need Advice on Development Land

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

Today I began talks regarding a large piece of land that would be perfect for both commercial development on one side and a subdivision on the other. Discussions of seller carry back were batted around with the sellers' approval. Large commercial properties are on my board. The board that plans out my future/vision board if you will. I could move the timeline up certainly. My contractor is beginning a development next year but isn't locked into it yet as of the last we spoke. This would be bigger and I think it would be more up his alley. There is one person in our REIA with pockets deep enough to finance this but a handful who could go in together and get loans on it.

Where do I begin?  I've never tried to climb an elephant quite this big.  What development specific questions do I ask?  I've already ascertained utilities and roads.  I've gotten information about the developing area.  I believe permits and permission from the city would be able to be acquired.  I've built some rapport.  What sort of deal structure should I attempt to try to get the bill down into manageable bites?  Literally, any and all advice would be appreciated.  Thank you!    

Post: BP meet -ups in Central Arkansas

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Michael James Brooks, @Steven Davis, and @James Watts I would love to meet for lunch or coffee sometime.  I could probably even talk Eric into coming as well.  We have a fantastic, active group at CARREIA.  You should all come.  Message me and we'll meet up!  

Post: First rental property purchase

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Phillip Li As a rental I would stay within an hour of where you live.  Otherwise definitely factor in property management fees.  

Post: Recommendations for Ceiling Fans for Flip?

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

Fans.  Arkansas heat needs fans.  Lots and lots of them.  They are ugly but at some point you need them.  

Post: 20 y/o Rough business plan - constructively criticize me!

NaDean BowlesPosted
  • Investor
  • Little Rock, AR
  • Posts 152
  • Votes 40

@Konrad Utterback, Congratulations, you are on the cusp of financial freedom!  When you go to class tomorrow, look around and realize you will likely be the only 30 yo retiree from your class.  Very impressive.  

I would recommend putting everything into it's own land trust and then funneling them into LLC's. Stand alone, with holding LLC's, or series depending upon your state laws. You need to 1) Plug into your local national REIA, 2) Find a CPA, 3) Find contracts and a lawyer so you can be fully legal in your state. On top of that, educate yourself every chance you get.

There are private lenders with whom you can connect, some it sounds like you may already have, and also other markets.  In my market in Little Rock you can actually buy houses that cash flow well for the funds you have.  I am also moving into the Houston and St. Louis markets.  Please feel free to send me any questions.  

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