Real Estate Professional · Rogers, AR · Member since 2016 · 3 posts · 0 votes
Hello, I am very interested in investing in a multifamily home in the Northwest Arkansas area. I have found what I believe would be a great investment, but would like some feedback on what you guys think about the property. I have attached the following link for the property: http://www.zillow.com/homedetails/2673-N-Miranda-Ave-Fayetteville-AR-72703/2146094178_zpid/ I would be putting a 20% down payment on this property.
I think that's a pretty nice area and it's close to the Razorback Greenway and U of A which is a plus. Have you been in it yet? Have you seen the rent roll? Price seems a little high to me. Don't know if you are aware, but we have a real estate investment group that meets in Fayetteville once a month. Lots of investors there with tons of experience.
I think that's a pretty nice area and it's close to the Razorback Greenway and U of A which is a plus. Have you been in it yet? Have you seen the rent roll? Price seems a little high to me. Don't know if you are aware, but we have a real estate investment group that meets in Fayetteville once a month. Lots of investors there with tons of experience.
The Dec. meeting will be held at a different location to accommodate a local vendor fair. We also have another smaller group that meets on the 4th Thursday and it's geared toward rookies. All the info you need should be on the website. If not, let me know.
With all investment properties, you will hear this mantra echoed over and over. When you purchase a property of investment it is a different due diligence process that when you purchase a home. Price is a key consideration, so you need to find out what comparable properties are renting for in that neighborhood. Then figure your taxes, insurance and maintenance into your equation. It does no good for any of us to look at the listing on your behalf as it is up to you to make the decisions. Basically, you don't want to be funding that property with your own money at all. So if you can buy the property at a price that will let you at least break even for awhile, (I would prefer some profit for my management time and effort), you may be on to something. If it has been on the market for a long time, the sellers may be motivated to negotiate price.