All Forum Posts by: Micah Mcarthur

Thank you @Erik Hitzelberger.   I appreciate your perspective and the nuggets of wisdom.   You have certainly given me a few things to chew on.   

Time---- that is a resource that I have just about maxed.  It is the biggest factor in all of my decisions, personally and financially.   

Good question, I have challenges getting to the weekday meetings, as I am normally traveling Mon-Thursday.  Where is the Big Springs, and what days do you typically host?

Really? thats why I am asking, it doesnt seem worth it to get into SFH if your going to pull $200 or less per month cash flow. Granted, cash flow is not the end all be all of my plan, but I am trying to gauge if my target is even right.

I am OK taking a little less cashflow on my first, just to get my feet wet and learn the game, however if it becomes an option, I think I would prefer to get into MFH, but I understand those are even harder to get your hands on here in Louisville.

Thanks for the responses guys. A couple of really good insights. I kind of knew the MLS wasnt really the way to go.The very few "deals" I have found either go under contract almost immediatly, or have sat there for months, which makes me think there is probably something major. I am not in for a major overhaul or reno yet, not on my first deals. I dont have the time or really the money.

I would really like to fall in with someone I can work with, do all the legwork, and learn how to the game works and establish the contacts.    I havent reached out to agents or wholesalers, or other investors as of yet; I didnt feel like I was ready up until about now.  

I absolutely want to learn more!!  I will be at the KREIA meeting next week.  I am actually intown next week, so that is perfect.   

I am still learning, and feeling like I have the confidence to pull the trigger soon on my first investment.   I have been analyzing houses almost everyday now for weeks and weeks, trying to get a good feel for the areas, what the market is looking like, local rents in the area, etc.  

As I run the numbers, learning what works and what doesn't, I am wondering what type of cash flow I can realistically expect.  

My current thought, assuming an off market deal doesn't just suddenly fall in my lap, is that I will purchase a fairly run down SFR off the MLS, in a B or C neighborhood, and try to be "all in" repairs and everything at 70%. absolutely no more than 80% market value.

What I am seeing, is that even buying at 70% market value, -minus repairs, finding $200 cash flow on a SFR is very tough, even lower if you use the straight 50% rule of thumb.

 I Would love to come to this one,  I met a lot of knowledgeable people at the the meet up last month.  Unfortunately I will be out of town on the 14th.  

I’m going through the steps and learning all I can.   This week I hope to go meet with a coupke banks and secure options for funding and refinancing my first investment 

Congrats on finding your first deal, very interested to hear how it turns out.   

Do you mind sharing how you found this investment property and what area or neighborhood it in.

Thanks Jay, I will keep an eye out for those areas.   

I am just about ready to find my first property, and this conversation makes me feel optimistic that Louisville is a great area to invest, but also somewhat pessimistic that there are no "good" deals left in my range.   ($80-120K).  

@Paul Passafiume, good to hear you are having returns over in New Albany and Jeff,  I never really considered them because of their reputation, but if they are finally starting to bring life back into them it may be worth looking into.   I am not far from you, I live in Goose Creek area.

Ok, this may be a silly queston, but how does a 20yr loan with a 30yr amoritization work?