All Forum Posts by: Henry Washington

Also we host a monthly BP meetup in Fayetteville.  You should set up a keyword alert for Northwest Arkansas so you will get notified when the next one is scheduled and come join the fun!

Hello sir!  welcome to BP!  I am also in the Northwest Arkansas area.  Are you buying a new place and renting your current?  Also what's the purpose of building the list?  I would say necessity is the best motivator, so make a business move and find the contractors etc. when the need arises.  Also its easier to get better rates from people when you have some work lined up for them to bid on.  Just a couple thoughts. 

@Chris Baker @Zach Quick The next meetup is scheduled.  you can find it here Northwest Arkansas BP Meetup

@Chris Baker anyone on BP who wants to come and chat about real estate is welcome.  We share deals, or talk about strategies.  Each meeting really takes on a mind of its own. 

 Hey Jeff.  I started investing one year ago when i was 36 and am now up to 25ish rental doors here in the Northwest Arkansas area.  Shoot me a DM and we can meet up sometime.  We also have a local BP meet up once a month.  You should stop by the next one!

 Usually 3-12 months interest only payments, at whatever the current interest rates are. Then the loan converts to a traditional once the construction period is up. 

We are using bank financing via construction loans to purchase and renovate our BRRRR homes. We pull our down payment and sometimes some of the renovation budget when we refi.

Pre-foreclosures can be great deals, but they require you move very quickly.  Most of the pre-foreclosure leads I get need me to close in 1-3 weeks.  this mean you will need to have your financing in place and ready to go.  If you have cash you will be fine.  If you have to use bank financing or private money, you will need to make sure they can get you the money quickly.  This also means you need to have a title company who can move quickly for you..... So my long winded answer is no.  Probably not great for a new investor because the window to do you due diligence is so small and you have to have so many things in place already in order to move fast.   

This year has been a world wind and we have enjoyed every minute of it.  As we now close our 14th month of investing we have completed well over 30 deals which include acquiring over 20 rental doors, 6 flips, and several wholetail deals.  Through the process I learned a ton from members like @Danny Johnson and @Brandon Turner.  

8 sets of mailings over 16 weeks is a lot of touches in a short period of time (which may or may not be good).  I space my touches out so that they are getting about 1 touch per month, or at the most 2 touches per month.   

I have only sent post cards & letters, and my return rate was much higher with letters.  So much so that we are phasing out postcards almost completely.  We plan on only using post cards for the first touch because its cheaper and it will help us identify dead addresses.  After that we will switch to letters.