All Forum Posts by: Brandon Moffitt

Welcome Rowan Ledbetter . I am in Little Rock as well. I have only been using BP a month or so, but it is worth every penny. You will find a wealth of information here. What I like most is the exposure to new ideas to help get you thinking outside of the box. Let me know if I can help you in anyway.

@Diane Trotter how many units on the multi-family purchase? And what price point? Feel free to direct message or email.

Depends on the type of transaction and the price (lower the price = higher commission), but 6% buyer commish would be considered high on a typical transaction.

I say use the agent first, but if you are not getting any feedback go directly to seller. Most agents have to use the ARA forms and do not have the ability to work outside of those forms. This is because they only have a limited exception to fill out the forms or they may find themselves practicing law without a license. To make the deal happen, you might have to convince seller to hire attorney to approve language for agent to use.

Willy Garcia welcome. Great part of the state to be investing in. I work in central AR. If you are ever down this way, look me up.

Lisa: I am also available to help. I hold a broker's license and a law license, so I can help you tackle about any situation.

It just depends on the numbers and if you want to do the work. You have to think about how much someone who wants to flip the house would pay for it, before you decide to buy the other owners out. The analysis is no different, you just own a portion of the house. Your post wasn't clear on whether the home's value you mentioned is pre or post renovation. If the pre-renovation, then you must know the value of the renovated home before you go and sink 50k into it. I think you must also decide on rental/flip. If renting, you might get by without putting the entire 50k renovation into it. If flipping, you need to bring to market standards to maximize your return. Simply stated, the key in every real estate deal is to work the numbers.

@Dianne Trotter make sure you learn the area before you jump. If it is truly SWLR (by Bass Pro), there are very few new residential developments in the area because there is no demand. Anything in that area is usually in the next county over (Saline County). Also, any development in Pulaski County outside of maybe a lot split, is going to require engineering to gain approval. Depending on where you are, you will most likely have to deal with two regulatory agencies: the closest city (e.g. Little Rock or North Little Rock) and Pulaski County. 

@Carlitta Dozier There is no need to pay someone to open a single-member LLC. It is a simple process online at the Secretary of State's website, with the biggest obstacle being choosing a name. I am in Little Rock and willing to help you at no cost.

I am an attorney/real estate broker from Little Rock, AR. I have completed a few personal real estate deals, but overall I have not had a lot of time to focus on personal investing. I am open to any deal (e.g. flips, buy and hold, etc.), but my goal is to develop a long-term investment portfolio. I have a lot of experience in real estate law, transactions, litigation, and valuation. I enjoy seeing what others are doing in real estate and I'm always eager to learn something new. I look forward to contributing to the forums and connecting with others in Arkansas (or interested in Arkansas).