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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 147 times.

Sounds like builders here In arkansas. Look at this garbage work my competition puts out.

Post: River Valley Navigators Real Estate Group Meet up

Account ClosedPosted
  • Posts 154
  • Votes 108

How many folks show up?

Post: Why is Arkansas Real Estate so cheap?

Account ClosedPosted
  • Posts 154
  • Votes 108

Arkansas is growing but I don't want to live here anymore. Taxes are absurd. 6.5% income, tpp tax for business, .068% property, 10.5% sales tax, and more....

that said we are making a killing selling spec homes in russellville

Post: Anchorage, AK Market Networking

Account ClosedPosted
  • Posts 154
  • Votes 108

I'm curious how the market is. After this 160 spec home deal is finished we plan to move to wasilla to build a sub division.

Post: Can I drive by my prospective tenants current home?

Account ClosedPosted
  • Posts 154
  • Votes 108

We do with all our prospective tenants if we can. Have to protect your asset!

Originally posted by @Nick M.:

@Will Fraser & @Account Closed thank you both for the reply.

@Will Fraser I’ll send you a dm for your lender details, always looking to compare. 

@Account Closed are you buying new and then renting out? Effectively trading some cash flow now for lower capex and maintenance in the years to come?

 No, I am designing and developing 45.68 acres In russellville to build 180 new homes. 1600-2200 sqft homes. Been getting 18-22% margin on each build.

Hardly any deals here in arkansas. We switched to new construction spec homes and it's been pretty good for us.

not much inventory for lots so.....we had to develop our own!

russelville is where we are currently.

Post: Doctor and Lawyer looking to become new real estate investors

Account ClosedPosted
  • Posts 154
  • Votes 108

I switched from brrr and rentals over to land development to have lots available for my new construction spec homes. Profit is much better and almost always guaranteed since you're costs are outlined by contracts with sub contractors.

Post: ‘What’s in your garage’?

Account ClosedPosted
  • Posts 154
  • Votes 108
Originally posted by @Jim K.:

@Diana Dorantes

Our car is a 2015 Toyota RAV4. It is the last of three new RAV4s that we bought in six years, a financial and business mistake that continues to haunt me. Before this, I visited the rentals in a Honda Odyssey minivan (don't know the year) with 200K miles on it. Finally had to give that up.

If you own, manage, and maintain a C-class portfolio in an urban area that you also live in, one of the basic rules of hands-on landlording is that you must never outdrive, outdress, or outcrib your tenants. That means you have to drive a car they could afford, wear clothes they could afford, and live in a very modest home. As @Account Closed pointed out, when you break this rule, you drive a very big wedge between you and your tenants.

Very true!!!

landrover for bigger deals and chevy equinox for the smaller ones 

Post: What's the best way to get start up capital?

Account ClosedPosted
  • Posts 154
  • Votes 108

My realtor and I are close and talk often, they get deals before they are on mls, forge relationships with other realtors, and of course get a check at the end of close for properties they buy.

its an easy way to get started unless you're able to make money elsewhere like I did.

i owned a manufacturing business then stock market, long hard road that was.