All Forum Posts by: Dustin Lavender

thanks @Paul Thompson!

@John Knisely  I asked the same question about the low price. I was told the same guy has owned it since it was built and he is aging and moving to retire. One of my friends is an agent and turned me onto the deal. I will be self managing them.

I am not sure where you got the ti portion of you piti calculation, but they will not be escrowed in together which is why I listed them seperately in first post.

@Hadar Orkibi the struggle is real. It is hard to be active when it will not let you.

thanks @Kayla Huiras, I will!

I'm looking at a 16 units apartment deal. It is solid. Built in the 70's. Could use some slow updating but is all currently rented.

It is really 4, 2 story town houses side by side with 4 2/1 units in each house. There are some value adds that can be done right off such a as raising rent to market.

Here are the #'s on it:

Appraised -650

Asking-480k

Down-15%

Tax - $6k

Ins-10k

Mrtg-2800 per month

Rent income-6400 (market here should be $500 per unit, or 8k)

What are your thoughts on this deal?

How do you go about refinancing after purchase to pay back private money? Is it just a line of credit against the equity or a second mortgage?

@Nicole Lybrand Right now I just invest in Searcy. The Searcy market is what I would call "stable". Some might be able to prove or argue otherwise, but I do not foresee huge market growth in the near future. Jacksonville/cabot/ward are where I see the market exploding due to our active air force base. Rental market has spread quickly from j-vile out all the way to ward in recent years. 

I'm looking at a 16 units apartment deal. It is solid. Built in the 70's. Could use some slow updating but is all currently rented. It is really 4, 2 story town houses side by side with 4 2/1 units in each house. There are some value adds that can be done right off such a as raising rent to market. Here are the #'S on it: Appraised -650 Asking-480k Down-15% Tax - $6k Ins-10k Mrtg-2800 per month Rent income-6400 (market here should be $500 per unit, or 8k) What are your thoughts on this deal? where do you guys find private money for a deal like this? How would you structure a private money deal for the down payment on this property?

@Todd Douglas right now I am just interested in my local area. Aside from working full time, I self manage all of my properties. I am pretty fearless in my market, but am honestly unsure what investing a thousand miles away would look like or how to make that work.

thanks @Dmitriy Fomichenko!

@Tom Ott thanks for the welcome.

@Michael Lee I am just about an hour Northeast of Little Rock. Great quiet little "mid-sized" college town. "Mid sized in Arkansas is 22k lol but it is quiet and most of the houses are well taken care of through the years.