Looking At Rental Properties in OKLAHOMA and ARKANSAS..Thoughts?

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Grew up in SW Arkansas, between Hot Springs and Texarkana. Lived in Little Rock for a number of years.Little Rock is a mixed bag. You need to really know the area to know what you're getting. As far as crime ridden areas: Avoid the "tree" streets or numbered streets, basically the interior of the city. West LR, past I-630, is a good area. Sherwood, a suburb of NLR, is a good area for rentals, and also closer to military bases. Whether that's good or bad is debatable. If you're considering Fayetteville, I'd recommend including Springdale and Bentonville (Walmart HQ) in your search as well. Both of them are based for many Walmart suppliers. Fort Smith, also in the NW corner has seen considerable growth and is attracting a lot of residents. It has everything: jobs, industry, military, easy access to all of the outdoor things that make Arkansas "the Natural State", and most importantly, is within driving distance to Fayetteville for a Razorbacks game! Hot Springs doesn't really have a whole lot going for it except for the Oaklawn horse racing / casino resort expansion. It's more of a tourist town but there are retirees along Lake Hamilton. If you're into condos, that might be worth looking into. Texarkana has seen some growth as well, but I would recommend Fort Smith over it. Have to be sure which state you're actually in there too! The the TX/AR state line runs through the city. The US district court house and post office was built on the line and serves both TX and AR. :) Im currently living in Alabama but will be moving back to central Arkansas around May/June next year if you need eyes/ears on the ground. My SO is also a contractor so we'll be moving his construction/rehab business too.

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@Jeff Petsche I can speak to Oklahoma City, but not sure if that's too far out for you. $650/month, 1% rule hitting rentals are here and occupied. I've not seen an overwhelming vacancy. We factor vacancy at 5%. I'm curious what people in Lawton factor at?

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We live in California and invest in Little Rock. We primarily chose that market because of the price point, BRRR/cashflow potentional and we lived there for 5 years giving us enough familiarity with the area to ask the right questions and know the general neighborhoods that we wanted to invest in. Our primary residence turned rental has had good renters and low turnover (2 tenants since 2011). That property is in the suburb Cabot with good schools and close to the Air Force base but little to no appreciation. For investing, we're focusing closer to the city. We just closed on a short sale in North Little Rock yesterday! NRL is definitely hit or miss for our criteria. Because of this, we confirmed our thoughts with our realtor and a property manager that has definite criteria in what they'll manage. We only moved forward after their green light. Feel free to reach out if you decide to invest in Little Rock metro or have any specific questions. I worked downtown with 30+ co-workers that relocated from out of state so everyone was chatting about their experiences etc and my husband worked at the Air Force Base. We also still have contacts in the area.

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@Jeff PetscheLawton is a rough area. Investors I know have tested that area, from SFH to 16 units complex. The consensus seems the same, junk. High vacancy and trashed units after every move out/eviction. The price points their are very tempting, however I believe it’s with reason.

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@Jeff Petsche you do need to know where to buy in the LR metro area, some areas are better then others. 1% is achievable also through e Turn Key provider. if you want TK talk to @Alex CraigIf you want to buy and do BRRRR then you need to be prepared to do it yourself and build team on the ground etc. which is going to take time, and commitment to know the market.

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@Rob Terpilowski Newbie here. Wouldn’t that list be for appreciation value? Like you shouldn’t buy in those areas if you’re looking to fix and flip? Or would it be better for rentals since a lot of people are going into foreclosure and are underwater in their mortgage?

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@Hadar Orkibi Thanks for the shout out!

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@Kevin Mehner I am no longer a licensed agent but I still sell a lot of real estate with the Off Market Properties being one of my specialties.

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@Jeff Petsche Fayetteville is a strong market and the surrounding communities. Maybe connect with @Henry Washington as he has his ear to the ground on properties in the area.

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@Jeff Petsche there’s a federal base in Lawton which people come and go that increases vacancy rates to fluctuate. I’d stay away.