All Forum Posts by: Joshua Schmidt

Hey everyone, I am in the Cabot area as well.  I will say I think you have to look a little harder in Arkansas and evaluate more deals if you are looking outside the Little Rock area.  I don't look there either, mainly focus on Hot Springs, Cabot, Benton, Bryant, Sherwood, Maumelle and Conway.  Saying all of that, I am still in the evaluation stage of buying our first deal here in Arkansas.  I own a rental in Memphis, and use to own a few in Arkansas but sold them when I got deployed back in 2006/2007.  Looking forward to getting this journey started again, but feel like I am in a dead stand still in the Analysis Paralysis.  I probably analyze an average of one to two deals a day and just can't find one I'm comfortable with jumping on.  Finally thought I found the one, went and looked at it Monday and it was literally destroyed and the repair cost would have been over double...definitely frustrating, but not going to give up.  

Here is the Act, Act 665 for HB1611

http://www.arkleg.state.ar.us/assembly/2019/2019R/Acts/Act665.pdf

@Jason Washam Welcome to BP and its great to have another Arkansan on here. It seems as though the Cabot/Conway/Vilonia areas are starting to add a few in this area. We all need to have a meetup sometime and just talk REI! I'm new to the REI business, but have been in Real Estate for 10 years now. Good luck on getting that first deal done and I'm sure I'll see you around!

@Kyle Tipton all have been eliminated during due diligence.  Seems like a lot of them have foundation problems in the area.  I'm a Realtor, so I look at a LOT of property.  On that note, the market has SEVERAL other investors doing buy and flips right now.  So, even the full price offers we have made have been beat out.  Very competitive here in the flip market for sure.  Have actually loosened our requirements from what we were initially looking for.  We were really looking for just a cosmetic flip to begin with.  Now we are looking at much bigger projects, but that seems to be where the deals are.  Hopefully have something under contract and moving forward soon.

@Brandon King Absolutely!

Austin, I'm a Realtor in the local area and would be glad to help in any way that I can.  I can tell you this, if I were 20 again I'd buy a tri-plex or 4-plex and live in one while improving/rehabbbing them the 1st year.  Welcome to the forums!

I put them on mute and just let them talk until the realize I'm not responding and hang up...

How are you finding your leads?  What is working best for you?  Are you going down to the courthouse?  I listened to the Bigger Pockets Podcast episode 332 featuring Adam Johnson and Brent Moreno.  This was a great listen and I highly recommend you check it out if you haven't already.  https://www.biggerpockets.com/blog/biggerpockets-podcast-332-build-deal-finding-machine   That is a link to it, you're welcome!  So, back to my question.  What is working best for you generating leads?  Are you using a software like REIPro, ListSource or PropStream?  Have any of you used leadsherpa.com?   Is anyone using a auto dialer like the mojosells triple dialer?  Interested to see who all is using what and what is working best.  I'm okay with good old fashioned go to the courthouse and find your lists, but if there is an easier, more efficient way, I am all ears....suggestions?  Thanks!

I was under the impression that you can carry up to 10 conventional loans.  Have talked to mortgage lender here in Arkansas that said I could carry up to 10....I don't think I misunderstood, but maybe I am missing something.