We just wrapped up one of our favorite projects to date—a full BRRRR execution on a three-property lakefront rental package in Hot Springs, Arkansas.

I'm Diane Higgins from Northwest Arkansas, passionate about investing in people and real estate.  

I'm working on affordable housing development projects in Missouri and Arkansas and realizing I need to bring on someone who can handle the execution side - closing deals, managing investor/lender relationships, keeping timelines moving - while I focus on strategy and development.For those who've brought on operational partners or integratorsWhat worked for vetting them?

Wellcome @Ramsey Lee Rodriguez I invested in central AR for over a decade and have done a few smaller multifamily BRRRR, refinanced, and rolled the money into the next deal. 

.• Or a local commercial bank that understands your planSmall regional banks in Arkansas love repeat operators with W2 strength.

Considering selling and 1031 exchanging into a multi-family in Arkansas.

.• $60k purchase• $35k rehab• $95k total rehab loan payoff• 15% deposit = $14,250 "down payment"• $126k ARV (confirmed via refinance appraisal, borrower expected this to be higher)• 80% rate/term refinance ($100,800 loan) @ 6.75% [700-719 FICO]• Applied $4k of deposit to payoff for an updated payoff amount of $91k• Cover closing costs with 80% r/t refi + $2k back to borrower at closing (still considered a r/t refi if under $2k) + remaining $10,250 deposit reimbursed after payoff = $12,250 total back to borrower• $4k of his deposit + closing costs for rehab loan = his "cash" in the deal• $1,250 market rents• Total PITI = $765.62• DSCR = 1.6327 I do not see the hold costs.  

I am sure your construction costs are lower in Little Rock Arkansas than in Philadelphia which explains why you can build at the cost basis mentioned in your post but unless the property is located in an irreplicable location I would urge investors looking to build ground up to seek better margins than building to 87% of the completed value.

My wife and I just finished building an STR property in Northern Arkansas.

Per COVID was a good source for us in buying homes in Texas, Tennessee, Oklahoma, and Arkansas.