All Forum Posts by: Dan Ward

So I have a home that I purchased about 3 years ago. When I purchased it I knew it would eventually be a rental property and I would just move and rent it out. Well now 3 years later I've found the dream home....got approved and am now considering just selling this house at what I owe on it. I don't have much equity at all in it and if I got a realtor involved I would probably break even at best. I do have a neighbor that I believe would be interested in buying it as a rental. What would be the easiest way to sell him the property at whatever I owe on it? is mortgage reassignment a thing? Is this something I would have a lawyer draft up? I figure this has been done many times before....if you have any experience please do share! 

@Kyle Tipton I actually live in the Cabot area! I love it, I have bird dogged a few deals in the past but over the last 6 months I honestly didn’t have much time due to international work travel. Now I’m at a different company and will pretty much just be traveling throughout Arkansas for my 9-5 (medical sales) so I’ll probably try to work on a few flips, bird dogs, buy/holds, etc. Let me know if I can assist any! 

@Andrew Johnson I actually "live" in Austin Arkansas.....it pretty much merges with Cabot. Oddly enough it's a great rental community because nearly everyone that I live near is military or has something to do with the medical school in Little Rock. They are also adding a new interstate entrance ramp for Austin so that will make my total drive time from my house to the downtown Little Rock area maybe 25-30 minutes. It's definitely a single family home rental kind of town, the duplex and multi units I've seen are very low income. Even the multi unit rentals in cabot are almost in the "juice isn't worth the squeeze" category. Either way, I have bird dogged a handful of deals, I'm pretty handy in all remodel aspects, and am always willing to checkout/photograph properties in the central Arkansas area if you ever need anything just shoot me a message! 

@Karoline Kaon sounds like you are doing a great job so far! I would encourage you to sand, scrap, and anything else you can to get all of the paint off of the cabinets. At minimum on the visible front side of the cabinets for sure. I've done many cabinets in my day and it just seems like if I tried to cut a corner like that, by putting a high build primer or something to that effect either hardly worked or left a minor flaw that drove me insane! What are you planning to finish coat the cabinets with? Once you get the cabinets prepped and ready for paint, I would encourage you to call a professional painter that has sprayed oil or shellac to see what they would charge to spray them. For guys that do tons of cabinets, they are generally always ready to spray and could knock that job out in no time. It may save you tons of time and grey hairs haha! 

@Karoline Kaon I have seen this done many many times now but I myself have never had to do it. I would just advise to check the moisture levels in the sub flooring just to make sure they are not crazy high. If it's just past pets that caused the odor issues you should be good to throw a few coats of kiltz or shellac to seal and mask out odors. It wouldn't hurt to throw some enzyme destroying cleaner on the flooring before hand (before kiltz) just to make sure you take care of the odors. 

@NaDean Bowles can you send me some information on the REIA meetings? I'd be interested in dropping by!

@Steven Davis and @Linda Flowers sent each of you a PM/Request

@Jim Martin We are pretty flexible for what the market has to offer. I would say the idea building would look something like an old Dollar General...or an old Warehouse. 5000 sqft?

I am looking for a commercial property to lease, ideally lease to purchase. The building will be used for a group fitness studio so the idea building will actually be warehouse style. I am looking in location throughout Little Rock and the surrounding towns....Sherwood, Benton, Cabot, Maumelle, NLR, etc. Just wanted to see if any fellow and local BiggerPocket members knew of anything!

ps. I'm keeping my eyes peeled on Loopnet and similar sites. 

@Andrew StephensI totally understand my friend! Just buy an okay brush, a good roller, and plan on throwing them both away when you are done! You can wrap them in plastic if you need to take a break over night but it will be so worth it in the long run when those walls look amazing.