All Forum Posts by: Briyana Hawkins

Long story short, he believes it’ll cost around mid $200K to build which would be more than the home is worth in the area (I somewhat disagree based on recent comps).

We’ve considered 1) holding on to it, 2) building anyway because the potential cash flow from these units will be attractive to investors (estimated $950 a unit), or 3) sell the lot and use that profit for a 20% down payment for a rental property. If you were in this situation with a hot lot to build a duplex on, what would you do?

Looking forward to hearing your thoughts!

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Quote from @Steven Taylor:

Quote from @Naveen Anbalagan:

Can you please any Trusted Investor friendly Real estate agents in the little rock AR areas.

Hi There, I am also looking for an investor friendly agent. I already have on SFR in the area, and am looking for a multiplex. Thanks -Steven

Hey @Steven Taylor, did you ever find an agent? Also, would you consider building a multi-family?

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Little Rock, Arkansas

Quote from @Adrian Lemus:

You could probably sell it for $50k max with plans and Title Insurance

Thanks so much Adrian! Do you think the lot being zoned for a duplex can potentially increase that estimate? We’ve had this lot for some time now so just trying to figure out the best strategy so we can reinvest.

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Hey BP Fam, looking for some feedback on this strategy. Anyone have experience land flipping or selling lots with build plans?

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I'll definitely be following this thread :) Very exciting! We are about to make our final payments on a lot zoned for a duplex in the Central Historic Area, not too far from Arkansas Children's Hospital. In fact, there's a newly built duplex next door to our lot. Haven't been able to find a builder yet, so still figuring out our strategy. Looking forward to hear what you all do on your REI journeys in Little Rock!

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Little Rock, Arkansas

Quote from @Sophie Sternbergh:

I agree with the postings above- 100% funding at 4% is most likely not a legitimate offer/company. For color with the market conditions fluctuating as they have in the past few weeks, our private lending bridge deals for fix and flips have been:

- 70-85% of purchase price

- 100% rehab

- 12 to 18 month term

- 9% to 10% interest rate

Happy to answer any additional questions!

Hi Sophie, are you guys operating nationwide? I'm in MD.

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Quote from @Luka Milicevic:

@Karen Kikalo 20 down is very normal. You will just have to call several lenders.

If you can....get some owner financing, or have the owner carry back the downpayment!

Hi Luka, I hope this is not a dumb question but its something I always wondered! So with owner financing, investors can effectively take ownership ie collect the rent, even though they do not fully own the property?

1 Vote

Dallas, Texas

Quote from @Tim Ryan:

Quote from @Alicia Marks:

Welcome to our question of the week! This is based of a Facebook discussion about wanting to hear more average income earners accomplishing their real estate goals. If someone wants to get started in becoming a real estate investor, makes around $50k per year and has saved $10k, but doesn't want to househack, what would you recommend they do?

Let's hear those great ideas and life experience!

There are many investment properties they can buy with $10 across the country. My first advice would be to get the investment property now - before buying your own house! I believe the "American Dream" has been homeownership for many decades, but this should change to the American Dream owning Investment Property. I hired on a couple to manage one of my apartments, a 42-unit, in which the lived onsite. They told me they would stay a couple years and then buy a house to live in. I explained to them that should buy investment properties now and later those assets will help them get their own home. They bought two positive cash flow duplexes while living and working at my property part-time while having full-time jobs. Then eventually bought their own house. Backwards? Most would think so, not me. It's smart and doable. Think outside the box, don't follow the crowds. I am way more impressed with someone with multiple rentals and I couldn't care less if they own the house the live in.

Wow I have been so torn and on the fence about this for months (only because I am being impatient and want to move now lol) but this makes absolute makes sense!!!

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@Comelia Hinkley Thank you so much! Just PM'd you!

1 Vote

Dallas, Texas

Quote from @Alicia Marks:

Which side of the metro are they moving to? It's basically two different markets.

Thank you for your response. They're currently in Arlington (specifically 76011). Interested in that area, North Richland Hills, Haltom City, Watauga, Euless, and maybe even Keller.

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Dallas, Texas

All Forum Posts by: Briyana Hawkins

Briyana Hawkins has started 12 posts and replied 68 times.

Post: New construction - Cost to build exceeds value?

Post: Little Rock Arkansas

Post: Flipping land or selling land with build plans?

Post: Flipping land or selling land with build plans?

Post: Looking to invest in Little Rock, AR...hows the market there?

Post: In search of private lender

Post: Looking for 20% down multi family loan - does that still exist?

Post: QOTW: If you had an average income, but don't want to househack..

Post: Rental Companies For Family in DFW

Post: Rental Companies For Family in DFW