Hello from North Louisiana

[Josh Emory]

Hi BP, my name is Josh And I live in the Shreveport/Bossier City Louisiana area.

I'm a big podcast/audiobook listener, and found the BP podcast on stitcher a couple weeks ago. Took a little spring break trip (15 hour drive to Colorado) so got 30 hours of back episodes in, in one week. Needless to say I was ready to join up after returning home.

Background: I currently own 5 rental properties in Kansas with a partner. We purchased these 8-10 years ago. Definitely made all the beginner mistakes. Bought them all with $0 down, no real cash flow and not much in line for appreciation and really didn't get a deal. Me and my partner had decent incomes so cash flow wasn't our goal at the time. All are on 15 year notes so we are getting close to being in good shape. We both moved for work about 2 years after purchasing. So what little money there was goes to management fees now. Anyways, not far from having them paid off. Just tired of those especially if we have repairs or vacancies.

All that said, I found the podcast because after 2 moves, I've gotten serious about getting back into investing. Currently under contract for a HUD home 3/2 1800sq ft in great neighborhood (actually looked to move there when moving to Louisiana). Neighborhood has mix of late 70s/80s homes and brand new homes. ARV around 160K, new houses going up in the 200-250K range. Under contract for 113K, can make it rent ready for less than 10K and up to ARV for about 22K. Planning to keep as rental, but haven't decided what level I want to take it too. Rent $1500-$1700 depending on the updating. Not a home run, but should work out good. Hoping to add 2-3 more over the next year.

I look forward to learning from BP.

[Michael Faulk]

Welcome to the BP community! Great to have someone from the Shreveport/Bossier area. Congrats on the HUD property you have under contract! Keep us posted on your success and how that deal goes. What area of town is the property in? I have 4 rental properties in South Bossier and am always on the lookout for deals and like minded people to bounce ideas off of and share the "little" knowledge I have to help others succeed.

By the way... this site is awesome! There is so much great content available and the people from-- newbie to seasoned investors sincerely want to see others succeed. I could go on and on about BP but check it out for yourself and I assure you that you won't be disappointed.

Also... upload a photo to your profile when you have a chance.

Best of luck to you!!

Michael Faulk