Shreveport / Bossier City Investor Meetup!
30 Replies
- 06/12/14 06:00PM
- Buffalo Wild Wings - Louisiana Boardwalk, Bossier City
- Free
Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. Poster certifies that there will be no pitching of products or services at this event.
Hello everyone!
Its about that time again! Come join us for some food, a few drinks and to talk about what we love. Investors of all experience are welcome! Even if you are just thinking of getting started and have yet to make the leap - come on out and ask questions!
Where: Buffalo Wild Wings at the Louisiana Boardwalk, Bossier City
When: Thursday June 12, 6pm - until
If you would kindly leave a post if you are interested so I can get an idea of how many to expect.
Keywords: Bossier City, Shreveport, Shreveport/Bossier, Shreveport/Bossier City, Texarkana, Monroe, Minden, Alexandria, Natchitoches, Louisiana, North Louisiana, Northwest Louisiana, East Texas, Ruston, Haughton, Kilgore, Longview, Marshall, Springhill, Mansfield, Homer, Vivian, Carthage
People that may be interested: @Michael Faulk @Justin Kilgore @JD Monroe @Josh Emory
@Jeff M Thanks for setting this up again. I will be in attendance with a +1 most likely. I've already passed the information on to Jimmy and he is interested in attending too.
Looking forward to seeing what everyone has been up to and what we have planned for the future!
count me in. My wife is a possible also.
I'm in. I have also been trying to hype this up to other investors who are not specifically associated with BP. The more the merrier.
@Jeff M. Thanks once again for putting this together. I feel that we all can do great things if we use each other as resources. Shoot me a text this weekend. I'm off all weekend and would love for you to come see my State court project.
@Justin Kilgore ... Looking forward to meeting up this weekend. Your really rocking it!!!!! I need to try and keep up. By the way thanks for getting Jimmy to join us.
@Josh Emory dude... put a picture up ;) Also, I have a ton of questions for you in regards to how you balance your work/personal life.
@Thang Nguyen @Andy Bui @Arthur Williams @Logan Boyter
@Robby Greene @Helen Hall
By the way... has anyone walked through 3268 Murphy St. Bossier City, LA 71112.
Homepath property...
3/1
$44,900
A buddy of mine sold a property around the corner for $120,000 rehabbed.
Could probably get $850-$950 a month rent.
I walked exterior and it needs foundation work, gut rotted wood...Has new Air condenser (Lennox) Back patio needs to be torn down.
My estimate would be $25,000 rehab... but I've never done slab foundation repair. Just curious.
MF
I would love to be there, but as of now, I will be out of town for work from the 9th to the 14th
So instead of going, I will give you a quick update on my status:
Since the last meetup, I decided to take action. Jimmy helped me put in an owner occupant bid on a single family HUD home. It was listed at 70k and needs 15k-20k in rehab. The comps in the neighborhood are at about 110k and should rent for $950. I haven't heard anything yet but expect to hear something by Monday.
Financing will be FHA loan 3.5% down @ 4% interest. I hope at 65k. My intent is to make this my primary residences until I get orders, then do a cash out refinance.
Also, I have been looking into Portcity Reality as property management option. The main reason I decided to look at them is they charge 10% plus 50% of the third months rent, instead of 50% of the first months rent.
Sorry I cant make it, but I hope you guys have a great time!
JD
That house is down the street and around the corner from my kids day care provider's house. I will be over that way tomorrow, I will see if I can check it out.
I think the price just dropped today realtor.com has it at $39950
JD... Awesome! Keep us posted on the status of your offer. I wish you the best of luck
@JD Monroe gratz man!
I received a text from Jimmy this morning. My bid was accepted for 62k, 3k less than what I thought it would go for and 8k under what I planed for in my spread sheet. Now we just have to sign the paperwork, but I am in San Antonio, TX for work. So, we're going to try to do it over email or fax.
Right now I have rehab on the brain and find it hard to focus on anything else. Are there any steps I need to worry about now before the paperwork is signed???
In another post you told @Jeff Lee he should get a CPA and that you used one. Do you use one from the local area? Would you recommend them? If so, Could you email or post the contact info for him/her?
How is your new house coming? Did you start your rehab yet? have you had any problems?
@JD Monroe thats awesome! you sir are doing it! Keep us updated and let me know when I can come check your project out!
Hey guys... I gotta swap out a hot water heater when I get off of work at 5pm. Probably going to be late to the meet up. There will be a new guy coming tonight. His name is Bobby Gill and he is a CPA and one of my friends. He owns some real estate and is interested in REI.
JD- Congrats! Your in great hands with Jimmy just follow his lead. On the financing side-double check every thing.
Jeff Lee- This is where you need to switch your outlook. That big tree represents money to me! It scares a lot of people off so it lessens your competition which equates to you being able to negotiate a better deal. That house is money in my opinion! It needs work don't get me wrong but... just think of the arv! A buddy of mine sold one of his slips two streets away for 120k. That's a huge spread even if you put 30k in rehab! That tree just needs a chainsaw taken to it!
That's just me though...
Fix/Flips not slips... hehe
I use Arnie Castillano-I butchered his name. He is on Mansfield Rd next to Home Federal.
@Michael Faulk How long do you think rehab on the Murphy house would take? I wouldn't want to my first rent house to take a medium-long time to get up and running.
I'm typing up a list of questions. There's gonna be a lot. I hope I don't scare off anyone.
I agree it is not right for a new investor. But my intentions were to show you the possiblities of an old dog like Murphy.
Timeline: If you had all financing in order , all contractors lined up and the project was well managed. I would say 6-8 weeks that is if everything went smoothly. Keep in mind I've just done a quick once over on the property-havent been inside and I am basing this off of the current duplex I'm rehabbing and the previous 2 SFRs I' ve completed over the last 18 months. The big question in my book would be foundation because I've never repaired a slab.
Great meet up tonight! Shreveport/Bossier.... you really need to join us because we are moving to the next level! So much great information shared tonight! So many great people showed up. Can't say enough... Looking forward to next month.
JD.... you missed a good one!
Guys let's try to get @Pat Burch to attend our next meet up. He is closing on SFR #6 today. Wish him the best of luck.
Also... @Louis Fourquet ... I'm sure I speak for everyone when I say: We are so very glad you came out last night and look forward for you to come to future meet ups! We can gain tons of valuable information from you :)
@Jeff Lee @Justin Kilgore @Josh Emory
Hopefully we can get Bobby Gill and Jimmy Stewart to join BP
@Louis
@Louis Fourquet undefined
Have you received the SB REIA info for this month? i.e. who is speaking and/or what is the topic. I gave them my email info at the last meeting but haven't heard anything from them yet.
JD... This Monday night is the meeting. The topic is "Section 8" or Housing Choice Voucher program. I'll send a link to your personal email.