All Forum Posts by: Kimberly Pittman

Investment Info:

Condo other investment in Hersey.

Purchase price: $395,000

Short-term rental purchase on Lake Hamilton in Hot Springs, Arkansas. This is a great unit in a great spot. Hot Springs, Arkansas, has numerous amount of activities to entertain everyone. From Fishing, boating, hiking, and biking in nature, to downtown shopping and bath houses, to the Casinos and Horse Races, you will not be disappointed.

What made you interested in investing in this type of deal?

Short-term Rental wanted to create a cash flow income. Location and the activities in the area made this an attractive purchase.

How did you find this deal and how did you negotiate it?

My Realtor introduced it to me knowing the area and the surrounding town that is growing.

How did you finance this deal?

Cash Purchase - 1031 exchange for a portion of it

How did you add value to the deal?

updated the unit with paint and furnishings.

What was the outcome?

It has been a great STR for me. Ive learned alot and continue to learn more all the time.

Lessons learned? Challenges?

People do not care for your place like you do. Challenges is living a few hours away.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Cindy Roses and Kim Guyor

Looking for several references for many different jobs that will be needed in future in Waco. Looking for someone who can do it all inside the home or outside if needed.  A great handyman type person needed for me to call on for repairs. Im out of town and need someone to call on.

Would like to ask if anyone has ever dealt with Teas neighborhood services program? They assist renters with monthly rent. 

I just got signed up with Rent Redi and would like to import the previous  monthly rental payments into rent redi to have it correctly dispalying the lease terms with rent owed. Any suggestions or am i missing a tool to do this with?

Thanks kim

 Thank you!!!

 Thanks for the encouragement! 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $545,000
Cash invested: $545,000

New Construction Duplex - Beautiful Design and very nice curb appeal. 3 bedrooms 4 bathroom - All bedrooms have private bathrooms.

What made you interested in investing in this type of deal?

Waco Texas is a known city that has a very good Private College, Baylor University. Also Chip and Joann Gaines and put this town on the map with their show on TV. I have known many people go to Baylor and the need seems to be there for rentals.

How did you find this deal and how did you negotiate it?

I found it researching online after many months. I worked with the listing agent on the property.

How did you finance this deal?

Cash purchase, 1031 Exchange

How did you add value to the deal?

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students

What was the outcome?

First off I took the realtors suggestion and listed with the property management company he promoted to me. This property has been sitting empty for over 5 months and the management company seems to not have a lot of interest. I am looking for a new management company to go with.

I listed on Furnished Finder and leased one side out in 1 Day. on day 3 now and have many people interested. Getting the application and fee for the first lease completed now.

Lessons learned? Challenges?

Yes, Always stay on top of your properties and/or investments . I have learned once again, No one cares about your properties like you do. I knew that but seem to always want to be reminded. LOL

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Unknown

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $545,000
Cash invested: $545,000

What made you interested in investing in this type of deal?

This is in a town that has a very good Private College - Baylor University. Also Chip and Joann Gaines and put this town on the map with their show on TV.

How did you find this deal and how did you negotiate it?

I found it researching after many months. I worked with the listing agent on the property.

How did you finance this deal?

paid cash from a 1031 Exchange

How did you add value to the deal?

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students

What was the outcome?

I listed on Furnished Finder and leased one side out in 1 Day.

Lessons learned? Challenges?

Alwasy stay on top of your properties and investements. No one cares about your properties like you do.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no

I am fairly new at being a Landlord. I have been buying and dealing with Real Estate for about the last 30 years. It started with really buying my own personal home, then selling and making a small profit. I then did the same idea in my business that I had for 25 years. Today I am a fairly new owner of a quadplex, a duplex and a condo which is currently used as a STR. I bought my first property for the investment side of the business in March 2023.