All Forum Posts by: Zach Jones

Hello,

This is my first time buying from list source. I am looking for potential flips & buy and holds. I wanted feedback on the my first list source criteria. (Attached is screenshot). Any advice/recommendations? 

Thank you all!

@Marie Fries there is an airport centrally located in Northwest Arkansas named XNA.

@Jamie Atkinson Yes, it is getting a little more difficult. A lot of the best deals are coming from those off-market.  I have found some great deals for clients in Springdale. 

Arkansas. Your first thought may be hillbillies and animals? Well while that is partially true lol you may want to look deeper. Some amazing things are happening in this area called Northwest Arkansas, an area majority of you probably never heard of...

What is Northwest Arkansas:

NWA market consists of two counties. Benton county and Washington county. The big 4 cities are Bentonville, Rogers, Springdale, and Fayetteville. Bentonville and Rogers are in Benton, and Springdale and Fayetteville are in Washington.

L5Y Growth:

-Benton County +33%

-Washington County +22%

-The surrounding cities have been booming as well. For example, Centerton (right outside of Bentonville) market grew +57%.

3 Fortune 500 Companies

-Walmart Home office is based out of Bentonville.

-JB Hunt Headquarters is based out of Lowell. (In between Rogers and Springdale)

-Tyson Foods Headquarters is based out of Springdale.

University

-University of Arkansas is located in Fayetteville. One of the fastest growing universities in the US.

Investment Opportunities:

They just announced the Walmart New Campus plans last week. If thinking long term, I personally think its a perfect time to invest near the upcoming home office before its hits contstruction. A couple of homes are selling under $115 price per sq ft.

https://www.nwahomepage.com/news/walmart-s-new-home-office-design-in-bentonville-unveiled/2008601400?fbclid=IwAR2UZWwPwT7sHwEp6qUwuvmMQSwi2fg661HJ6lniVkP1F5WcvHo_filgG3E

- Downtown bentonville homes were selling at $100 price per sq ft. just a few years back, now many of them are currently selling at $300+ price per sq ft. Tough to invest there, but did find a great investment property there for a client 2 weeks ago.

https://talkbusiness.net/2019/04/wework-coming-to-downtown-bentonville-planning-200000-sf-building-on-south-main-street/

- Downtown Rogers is at the beginning stages of a huge boom. I would also recommend investing there.

https://talkbusiness.net/2019/04/onyx-coffee-lab-heads-to-the-1907-in-downtown-rogers/

- West of I-49 in springdale is starting to boom because of tyson and new childrens hospital.

https://talkbusiness.net/2017/10/plans-announced-for-180-million-commercial-development-in-springdale-off-don-tyson-parkway/

-Pinnacle heights/ Top Golf are going up in west Rogers. Predicting even more growth in the area long term. Some are predicting 250k homes to turn into 600-700k in the years to come.

https://talkbusiness.net/2019/01/construction-begins-on-first-phase-of-100-million-pinnacle-heights-in-rogers/?fbclid=IwAR2ywQuaQajDtBStQRtjbL_NC9Qyokno23enl2p2gqvAfpknFR1Wt0gGjYU

-Fayetteville was just named #4 on top places to live. Has been tough to find great deals there.

https://realestate.usnews.com/places/arkansas/fayetteville?fbclid=IwAR1Bd5oS-qScKw0hobHhNbRfj_UXEhK2s3bcPgiRq_Mt1XILEfNtzAppAwI

- I wont be surprised with a growth in smaller towns like Decatur/Gentry. Sold a house to someone working on sealing deal to film a netflix series in Gentry. Decatur just announced a 300m simmons project.

https://talkbusiness.net/2019/03/300-million-simmons-foods-plant-takes-shape-south-of-decatur/?fbclid=IwAR051H89iMwxFRo8916HiCsh1A-_Ly9ot4RTZvgWiU1Tx7eEMiD8cZIPdf4

Looking to Invest?

Hope this serves you well. Will be analyzing deals on the daily basis. Please let me know what exactly you are looking for, and I will be here to help! Who knows, we could very well partner up on a deal together!

@Brad Baker @Joel Thompson @Brian Garrett

Thank you all. Still a lot to learn on my end, really appreciate the value y’all shared.

@Luther Avery Northwest Arkansas is the best known secret in the US! Growing at a rapid speed. Never hesitate to reach out if you are considering investing in this market.

I am looking to get a deal done to BRRR and wondering if Hard Money is an option..Or a dumb idea?

Here are the deal facts:

Purchase price: 205k

Repair Cost: 10k-15k

Projected ARV: 250k-260k

Expected Rent: 1800/mo

With a predicted 75% refinance value coming in at $187k-$195k, is it a dumb idea to go the hard money lending route? How could this work?

Thanks in advance

 @Amanda Fulmer, I am sorry you are having troubles with selling your flip. 

My advice is that if its already listed at FMV and with a good realtor, i would suggest paying for professional photography. $120 investment in pictures could very well go a long way.

Hope you are able to sell it! 

Hey Madeline, welcome to the USA! Great Question.

Every state can vary, but what I tell my buyers is to expect closing costs to be somewhere around 3% of total purchase price. Here in Arkansas, the typical commission fee for Realtors is 6%. However, the seller pays the commission -- unless its negotiated. Personally, I have never had a buyer pay a commission fee for my services, it has always been the seller. 

The purchase price is typically not altered by the commission fee. 

Hope this serves you well.

@Abraham Anderson incredible work man. People like yourself are showing how its possible, no matter what your age is! Keep up the great work!!