Hi all - I am fairly new to BiggerPockets and to the world of real estate investing. This year I actually purchased my first SFH investment which has been a great experience thus far. I am looking to expand and am interested in the Northwest Arkansas area (i.e. Fayetteville, Springdale, Lowell, Rogers, Bentonville) due to a variety of reasons. I am reaching out to see if anyone has any experience with SFH's or even mult-family in that area that they would like to share. Thanks for your help.
Hello Jace, I have owned a triplex for the last 4 years in Springdale. It has been a good investment.
Great to meet you! We've had two rehabs so far, one in downtown Bentonville and one in Rogers. We have researched buy and holds, but are still doing flips to build up the active portion of our business. My husband is a realtor, so we watch those investment rentals go by every day.
When we build up a bit more capital, we plan to jump into the buy and hold market. Right now, our flips are keeping us busy. NWA is hot right now!
Let us know if we can be if any help!
Welcome @Jace Carlock ! NWA is a tough area (not impossible) to get started in especially without boots on the ground. It's so hot right now there is a limited inventory on the open market. Even off market most folks wanting to sell want top $. We moved up here from the Heights (Houston) in 2012 and have seen prices on some places double in that timeframe. Id be happy to chat with you about what I know and have seen if your interested. Just PM me.
Thanks for the answers everyone. @Dustin Davis I sent you a colleague request so that we can chat. To be more specific, what I am looking for are SFH's for around $140K that can rent for $1,250/month. I have noticed that many SFH's are popping up for sale in the area for around that price. Have you seen a strong interest in the rental of SFH's in NWA or maybe have experience with your own rentals? I plan on making a trip there in the coming months to get a better feel for the area. Thanks for your help in advance.
Funny this seems to be a Houston / Arkansas thread. I still live in Houston but am from Little Rock and went to school in Fayetteville. I've been watching Loopnet and the MLS for multi-family (4 unit up to smaller apartments) and the pickings are very very slim.
Hello Jace. I'm a real estate broker & property manager in Springdale. I'd be happy to help. PM me and we can discuss further. We could do some market research on areas with rentals in the $1200 range. -Kelley
@Jace Carlock with that criteria you should be able to find some good stuff especially up around Bentonville and around the University in Fayetteville. I'll shoot you a PM.
@Jace Carlock This is a great area to invest. As Dustin above said, you shouldn't have too hard of a time finding properties that hit your numbers, you will just need to jump on anything you find quick. I recently sold two of my SFH to purchase an apartment and had both under contract within a day of hitting the MLS.
To be a little more specific about locations, I really like west Fayetteville and Centerton right now. Houses tend to be slightly cheaper and the rents are still solid with lots of demand. Fayetteville demands a little bit higher rent than the cities to the north in general. East Fayetteville is great as well with top notch schools you just need to be on the look out for foundation issues as a lot of those houses are built on rocky soil.
Shoot me a PM if you want to chat more. Best of luck to you.
I just bought and rented my first SFH in Springdale. so far so good. yes, the houses are selling fast right now. There's tons of construction here, houses, apartments, roads, hospitals. we're getting a new Children's hospital in the area, which is very nice.
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