Interested in buy and hold properties for our personal portfolio North of the 630.
- B class Properties
- Needs Renovation is Fine
- Will consider value add MFH as well.
- Partial to well-maintained 1960-70's brick homes in need of light renovations
We are looking to establish long-term relationships with local professionals in the industry. We can help with marketing and other aspects of this industry, but need the "boots on the ground" help!
Good Day Kit, I have started doing the same. (just started) please PM me we maybe able to work something out, later down the track once we completed our first few.
@Andrew Johnson , any reason why you steer clear of those areas?
@Kit Dumph It's just too hit-and-miss for me. I really like the Chenal area but don't think it's very investable. Outside of there, when I've found deals that pencil out well on the ol' spreadsheet they never seem to look as good in person. In under 15 minutes of driving around I usually conclude that it's not a street/neighborhood that I want to invest. That's not to say that you won't find deals there but I just always found myself gravitating up the Mayflower -> Maumelle -> Conway string up I-40. I think you can find better cash-flow deals up through Jacksonville and Cabot but once I started in Conway it became my "center of gravity". I even looked at a couple of deals out in Ward, Russellville, and Clarksville but it's really hard for me (sitting in California) to get a pulse on the viability of those communities. Anyway, I don't want to be discouraging, that's just my experience :-)
@Kit Dumph , you can actually find great ROI in most places of LR/NLR. Some are nicer neighborhoods and some areas are pretty much section 8 or lower end rentals but still with a high ROI. Does that help?
Jacksonville, Cabot, Austin and Ward have the air force base as a main economic driver which generally has a lot of quality renters. Cabot Austin and Ward have one of the better school districts into the Little Rock area. And there is currently a expansion of the main highway 167/67. When it is finished it will connect cabot and Jacksonville 3 lanes wide all the way into Little Rock.
Conway has several colleges as a main economic driver and was recently listed as top place to start a tech startup due to the. Low cost of living, availableblity of talent and gigabit internet.
I personally have two houses in Cabot that do well. I would try to stay above the $1000/mo rental mark in cabot that is where you will get most of your military families.
@John Powell , that really helps me out thank you. Being prior military, these areas are always something I'm interested in. Going to have to do some research on those bases. Is there a good amount of on-base housing, or do the majority rent off-base from your experience?
@John Powell I know you mentioned that you own in Cabot but say that Ward still has some of those benefits. I'm curious about your take on Ward. I've looked at some smaller scale apartments there and haven't been too stoked on what I saw. Cabot looked much more developed but once I was out in Ward it "felt" a lot different. After maybe 3-4 times looking at properties there I just basically wiped Ward off of my list of potential places to invest. Curious to hear your thoughts on the area.
And I still, for the life of me, can't figure out Austin. :-)
@Andrew Johnson I actually "live" in Austin Arkansas.....it pretty much merges with Cabot. Oddly enough it's a great rental community because nearly everyone that I live near is military or has something to do with the medical school in Little Rock. They are also adding a new interstate entrance ramp for Austin so that will make my total drive time from my house to the downtown Little Rock area maybe 25-30 minutes. It's definitely a single family home rental kind of town, the duplex and multi units I've seen are very low income. Even the multi unit rentals in cabot are almost in the "juice isn't worth the squeeze" category. Either way, I have bird dogged a handful of deals, I'm pretty handy in all remodel aspects, and am always willing to checkout/photograph properties in the central Arkansas area if you ever need anything just shoot me a message!
@Dan Ward , just fired off a PM to you.