Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

7
Posts
0
Votes
Micah Dingler
  • Investor
  • arkansas
0
Votes |
7
Posts

4th investment purchase

Micah Dingler
  • Investor
  • arkansas
Posted

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

Loading replies...