All Forum Posts by: Lee Huffman

Hey @Account Closed , welcome to the business!  We invest in the Fayetteville area and would welcome working with you.  Please send us any wholesale deals you have and maybe we can do some business together!

Welcome @Brent Ely .  I've been investing the Fay area since 2006.  We're primarily focused on purchasing distressed properties and turning them into rentals or flips.  If you're interested in wholesaling, we look forward to working with you!

Of course @Latonia Parks, you would be one of my recommendations.

 Hey James, please send me a PM, include your email, and I'll introduce you.

Hey @Bob Malecki , we've done better with rentals than we have with flips over the past couple of years. We've found the average buyer market is $100-$130k, but you need to have some "wow" factor in your flips in order to have them move well. A fresh coat of paint and new carpet isn't going to work unless you're willing to take a discount to ARV.

As @Latonia Parks said, with the heavy military influence on the population, rentals do very well.

I'd love to see what type of inventory you'll have to sell.  I'll send you a private message so we can exchange contact info.

Welcome @Latonia Parks.  Congrats on a successful 2015 and the goals to double your activity in 2016.  We are investors in the Fayetteville area as well.  We bought 5 properties last 5 (3 rentals and 2 flips) are are looking to buy 6-10 properties in 2016.

My friends @Alexander Felice and Antoine were there last night as well. I'm hoping to coordinate my next trip to Fayetteville so I can attend the local REIA meeting.

I met @Alexander Felice by reaching out to people on BP that were in the area that I invest.  When I visited the area (I live out of state), I met up with Alex and several other people.  Most were friendly and nice, and we've continued to be friends and explore doing deals together.

@Isaac Jones anyone that responds to your post, the way it is written, isn't someone that you'd want mentoring you anyway.  As the people above have suggested, your best approach is to have something to offer the person who would mentor you.  As in any relationship, business or personal, it needs to be give and take... not just give, and not just take.

I'd recommend that you do a search for investors in your local area and offer to treat them to a coffee or a drink to see if there is a connection for future business, and possibly mentorship.  If you listen to the BP podcast, you will hear that @Brandon Turner loves it when people ask to take him out for a coffee to get to know him and pick his brain.

Finally, don't rush into picking a mentor.  Their focus may not align with the type of investing you are looking to do, or they may not be who they seem to be.  Quite frankly, there are a lot of people that I've met that seemed so smart at first glance, but as I got to know them better, there's no way I'd trust their judgement.  So, take your time in finding the right person to emulate.

Best of luck to you.

Our property manager is beyond awesome.  Far and away better service than the company I was using previously.  PM me if you'd like her contact info.

@Rasheema Abduls-Salaam, we have bought 3 rentals in Fayetteville this year. We bought distressed, rehabbed, then added a tenant. We purchased in all cash and kept "purchase+rehab+carrying" costs to less than 70% of ARV, then did a cash-out refinance (lesser of 70% of ARV or HUD-1) once tenant was in place. We're at rent of 1.2% of "purchase+rehab" on the 2015 properties, which is a >14% annual return. Considering that we were able to pull out almost 100% of our cash on the deals, we're at an almost infinite "cash-on-cash" return.