All Forum Posts by: Eric Pinter

put one in OC on market this morning, headed out there to put another one on the market.  i own both.  1 has been a rental for a while, the other i just bought, selling as is, unless i decide to keep it as a rental.

Of course I wish you well, or anyone that tries, because it would make me feel more secure leaving my truck at the boat launch when I go fish at Lake Conway.  :-)

This is an interesting post. I am very familiar with Lake Conway. It is a fishing lake, full of stumps and trees and very shallow. There are a few nice homes, but mainly it is run down little fishing shacks and mobile homes. It is kind of a giant mosquito breeding ground. Most of the lake is not that nice to look at relative to other lakes. Arkansas is blessed to have lots of lakes, so people have a choice. For boating, skiing, etc, there are multiple beautiful lakes within an hour or so of Little Rock, all with varying levels of development allowed. On Lake Conway, lots are usually small and the properties not on the water are primarily junk. Problem is they are all jumbled in next to each other. The streets are tiny and sort of incoherent. So you might have a $60k little fishing shack on the water and 50’ away is a 40 year old trailer, or an entire street of them. It is not that expensive to just buy a nice place on Lake Hamilton or Greer’s Ferry where you can take your fun boat and swim. Nobody with a Moomba or Cobalt is going to ever put there boat on Lake Conway because you can’t even use the lake like that. I take my 18’ aluminum bass boat there to fish, but I go to Ouachita or Degray or Greer’s or Hamilton when we want to get the big boat out and meet up with friends to swim, drink, eat on the lake. I am not saying this revitalization idea is hopeless, but you definitely have some fundamental forces that are nearly impossible to overcome. Basically think about the lake culture in central Arkansas as its own microcosm. There is too much competition and Lake Conway just can’t compete. Way nicer lakes with nicer properties already on them and it is all still very affordable.

You can pretty easily find nice looking granite here for $30/ft installed.  Don't pay more than that.

Bella Vista is one of a couple other places in Arkansas where real estate dreams & money go to die....

owner finance.  sounds like you have no mortgages on the property since you used credit cards (terrible idea) and cash.  put them on craigslist, try to get 20% down, hold a 1st mtg position.  have to have more info to help with pricing, terms, yada yada.

From your other posts, it seems like you just get a kick out of signing up for things or paying for services, all in anticipation of investing.  Here's my advice:  stop doing all those other things, and just go invest.  

Yeah, that hurts to read.  Unless each of these properties is worth over a million $, it seems like overkill.  Sure, it's impossible to be "too safe", but I would compare it to wearing 20 condoms.  Basically, 1 should do the trick.

I do some.  Just got a 24 unit deal signed today.  But honestly, if I find a good deal, I'll just buy it myself.  If you find a deal you want to have someone represent you on, I may be able to help.  But you'll have to find them on your own.  I remember you going through a deal recently where you were asking a bunch of questions on BP.  It made it seem clear that you either didn't have anyone representing you, or that person was not doing a good job of it, because those questions should have been answered by whoever was representing you.  

You generally don't need an attorney to close a property at all in Arkansas.  You just need a title company.  

There are definitely ways to run afoul of real estate regulations in wholesaling.  Many of the real estate regulations apply to people who don't have a real estate license, which may come as a surprise to people who get slapped with fines or worse.