Minneapolis, MN 路 Member since 2020 路 61 posts 路 56 votes
Hi all, I've been looking into warmer states to start investing in, and one of the spots I've taken into interest is Arkansas. I started doing a little market research and found that It's overall a pretty cheap place to live, does anyone have any idea why that would be? I'm aware that it's no CA, or WA, but its a beautiful place to live, with a decent climate. Any thoughts?
Real Estate Agent 路 Hot Springs National Park, AR 路 Member since 2014 路 7 posts 路 7 votes
6y
Arkansas is not a wealthy state. This is a factor. Some areas are attracting a number of part time residents who own vacation homes, many of which are priced out of reach of the majority of residents. Arkansas is very seasonal -horse racing Jan. to May, lakes June to Sept. Not much is year-round. Therefore, the natives can鈥檛 afford high end houses. Wages are among the lowest in the country. Inflation is minimal and prices are pretty flat, no more than 1% per year.
construction 路 Nacogdoches, TX 路 Member since 2011 路 2k+ posts 路 1k+ votes
5y
Originally posted by @Account Closed:
These are 2200 sqft homes fetching $132-145 per sqft new. Its absolutely absurd! The footers of the house are CMU block and filled in with concrete, no footer below the cmu block, just SP2.
Notice that brick goes all the way up, no footer or brick ledge only sitting on sp2, has 1 tie in 16" up from the sp2 and up the wall..nothing to hold the brick courses in place, not to mention missing water proofing/vapor barrier.
I have been investing in Arkansas since late last year. Been doing really good so far. I am also a very accomplished builder. These guys need to be stopped. Is there any statewide license or arbitration? New to the state as far as builder so I dont know.
These are 2200 sqft homes fetching $132-145 per sqft new. Its absolutely absurd! The footers of the house are CMU block and filled in with concrete, no footer below the cmu block, just SP2.
Notice that brick goes all the way up, no footer or brick ledge only sitting on sp2, has 1 tie in 16" up from the sp2 and up the wall..nothing to hold the brick courses in place, not to mention missing water proofing/vapor barrier.
I have been investing in Arkansas since late last year. Been doing really good so far. I am also a very accomplished builder. These guys need to be stopped. Is there any statewide license or arbitration? New to the state as far as builder so I dont know.
It's the wild wild west here.... There arent any inspections on this work just electrical, plumbing, and mechanicals.
Rental Property Investor 路 Manchester, NH 路 Member since 2019 路 186 posts 路 156 votes
5y
@Cameron McNulty
So why doesn鈥檛 anyone want to move to one of the least educated, poorest states with the highest rate of religion in the country.馃ghee I have no idea. Ever state has that one town that down on its luck dirt cheap real estate. Every country has those couple of states that no one touch鈥檚. I鈥檓 sure you can make lots of money, but I prefer wealthier and more educated bases.
So why doesn鈥檛 anyone want to move to one of the least educated, poorest states with the highest rate of religion in the country.馃ghee I have no idea. Ever state has that one town that down on its luck dirt cheap real estate. Every country has those couple of states that no one touch鈥檚. I鈥檓 sure you can make lots of money, but I prefer wealthier and more educated bases.
Please make sure you never, ever, for any reason shop at a Walmart. Or, if you go to a mall, make sure you don't go to Dillard's. Also check and make sure your chicken doesn't have the name brand Tyson on it. If you ever want to eat rice, whether at home or at a restaurant, make sure to check that it came from another company besides Riceland. I'd hate for you to support anything affiliated with Arkansas.
Please make sure you never, ever, for any reason shop at a Walmart. Or, if you go to a mall, make sure you don't go to Dillard's. Also check and make sure your chicken doesn't have the name brand Tyson on it. If you ever want to eat rice, whether at home or at a restaurant, make sure to check that it came from another company besides Riceland. I'd hate for you to support anything affiliated with Arkansas.
Hahaha the funny part is I avoid Walmart like the plague have never set foot in a Dillards don鈥檛 consume Tyson or have ever purposely bought Riceland or knowingly consumed it so sounds like life without Arkansas ain鈥檛 to bad I鈥檓 sure there鈥檚 some good parts and good people but it鈥檚 all good.
@Cameron McNulty I have wondered this too. My brother makes a good living flipping houses there. That is all he does. I have been thinking about investing there but have been a little spooked by the hype. He lives near Fayetteville but I don't know where he does most of his flips at. I may have to ask him as it is not that far from me.
WOW he lives 3hrs away almost from LR and does fix n flips? thats a drive and a half. I'd be interested in speaking with him about jv'ing if he is interested.
@Cameron McNulty I have wondered this too. My brother makes a good living flipping houses there. That is all he does. I have been thinking about investing there but have been a little spooked by the hype. He lives near Fayetteville but I don't know where he does most of his flips at. I may have to ask him as it is not that far from me.
WOW he lives 3hrs away almost from LR and does fix n flips? thats a drive and a half. I'd be interested in speaking with him about jv'ing if he is interested.
Unfortunately, he passed away last month. He had moved to Hot Springs and was building there for that boom.
@Cameron McNulty I have wondered this too. My brother makes a good living flipping houses there. That is all he does. I have been thinking about investing there but have been a little spooked by the hype. He lives near Fayetteville but I don't know where he does most of his flips at. I may have to ask him as it is not that far from me.
WOW he lives 3hrs away almost from LR and does fix n flips? thats a drive and a half. I'd be interested in speaking with him about jv'ing if he is interested.
I did finally invest in the area though. MHPs and looking at RV parks lately. Little Rock, Beebe and Searcy area. Looking at Hot Springs too.