Please help me evaluate my deal
Hi - I’m an investor in NJ looking for some out of state investments. I recently found a property in North Little Rock, Arkansas.
It’s a single family 3B/1B turnkey investment listed at 105k. The place is renovated and has tenants till 2024. The place is rented at 950k. After all expenses I would net 150$ on an investment of 25k (including closing costs).
Any advice regarding this area? I don’t know much about this place and there are not a lot of good companies in this area. Any thoughts and suggestions are greatly appreciated. Txs.
Hello @Venslaus Arokiaraj!
Cash on Cash for this deal is about 7% annually which, compared to NJ & other Northeast markets, is a decent return. Not sure which markets you are comparing to Little Rock but a (near) 1% rule deal is challenging to find in NJ.
To best find advice on the area, I'd recommend:
1. Set up keyword alerts so that you're notified each time someone on BP mentions your areas and topics of interest.
2. Use the Search feature on the top right of your screen to look up old/recent form posts mentioning North Little Rock. This is a great way to actively seek out valuable info shared in the past.
3. Connect with an investor-friendly agent in the area for local insight & access to more deals
Best of luck to you on your out-of-state search!
Abel
