All Forum Posts by: Diane Higgins

Thanks so much Ryan! You have inspired us for sure! 

Awesome Rebekah!  Keep me posted on your progress! Congrats :-) 

The property is in Fayetteville Arkansas. We are still under contract and not locked into a rate yet, but should be this week. Still working on how much we need to invest to add value, but will have ROI analysis done next week. Circle back with me!

There are some companies that do not charge a cancellation fee beyond the 30 days.  Our company, Keyrenter Arkansas, asks for a 90 day commitment then it goes month to month.  30 days notice and no penalty, with the same privilege on our end.  Our belief is that the owner-pm relationship is one of high trust and accountability.   If it turns out not to be a good fit, we should all move on. 

Investment Info:

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

Purchase price: $365,000
Cash invested: $91,250

We have this duplex under contract. It will rent for more once it is rehabbed (flooring, paint, carpet)!

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

This property is very close to our home office and in a great neighborhood. The price per square foot was irresistible!

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

Our principal broker decided to sell some of his rentals and gave us first choice. Priced at $153/ft

How did you finance this deal?

25% down, 7 year ARM loan

How did you add value to the deal?

We will be replacing floors, counters, and painting

What was the outcome?

We will have to keep you posted!

Lessons learned? Challenges?

Challenges include current tenants with a language barrier. Get back to you with lessons learned!

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

I am a broker and work with lots of investors to buy and sell their properties, as well as providing the best available Property Management!

This is a 7 year ARM, which we feel allows enough time for a turnaround, or we can pay it off then.

It is renting for 1800 now but is under market.  It will easily rent for 2200 or more. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $375,000
Cash invested: $93,750

This is a lovely all brick home in an upscale neighborhood in East Fayetteville.

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

We have done property management for eight years and are in an area with a shortage of rental properties, so we are starting to invest in single and multi-family homes.

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

Our principal broker was selling some of his properties so we were able to buy it directly. He already had it priced under market so no need to negotiate!

How did you finance this deal?

We are getting an adjustable rate mortgage and paying 25% down.