All Forum Posts by: Jordan P Applegate

@Zach Quick, thanks for the reply & info.  I'll look into the best use of the land.  Welcome to my home town :)

@Greg Dickerson, thanks for the insight!  I'll check on absorption rates.

Hi BP community,

My mom recently inherited about 12 acres of pasture on the corner of Dixieland and New Hope in Rogers, AR.  It's adjacent to a police station, near shopping, and near the high school.  After lots of reading & listening on BP, it occurred to me that it might make sense to build some apartments there.  Alternatively, maybe a single-family neighborhood would make sense.  Then again, I'm open to AAA (storage units, gas station, etc.) as well.  If I pool capital with some other family members, I think we would have some options, and since we own the land, that seems like a huge start.  I am looking for cash flow and a buy-and-hold strategy, and my mom just wants to do something useful with her property.  I should probably mention that I don't know much about the zoning situation.  Currently the property is zoned agricultural, and I heard the population density zoning in that area is somewhat low.

I need some help narrowing my focus. I have about $250K available to invest aside from other family members. Up to this point, I have been scouring the MLS for SFH deals, and I have been thinking about pulling the trigger on a direct mail campaign in my own area of Cabot, AR. However, it seems more efficient to buy one big multi-fam instead of hunting down a bunch of SF deals. From what I have learned, you can fit about 33 to 36 units on one acre. There's no way we have enough capital to fund anything close to 12 acres x 33 units at $1.25 sqft (+/-$39M). Furthermore, it sounds like walkability is a big deal in NWA right now, and while the property is in close proximity to several good things, it's not walkable like downtown Bentonville.

Please help me with my strategy. I need cash flow as part of my buy-and-hold goal. Is it feasible to develop one acre at a time, slowly adding apartment buildings in row-like fashion? There was a guest on the podcast who did that, but I believe there is planning that has to occur in terms of irrigation, pavement, etc. Maybe there's something creative that hasn't come to mind yet, like a farm. As I mentioned in the beginning, I'm open to developing the land into a SFH neighborhood. Maybe I should make the neighbors mad and build a mobile home park, haha! At least the cops would be close!

Thanks for your help,

Jordan Applegate

@Celivette Saez, Auction Dot Com

Thank you very much for your help @Jeremy Taggart and @Tamara Deering!  I'm new to my area, but I do plan on investing nearby.  I really appreciate your advice, and I am already following up researching the things you mentioned.  I hope others read this post and get help on the subject too!

Hi all,

Often people in this forum ask about buying in a specific community, but that doesn't help the rest of us so much.  I'm hoping this broader question yields some general principles that are widely applicable.  What are some key factors or characteristics that signal you a community is growing, thus a location you want to buy properties?  A follow-up question might be this: where can I dig for clues about things that are coming down the pipe, so to speak?  Examples might be a new highway, power line, or hospital.

Thanks!

Jordan