All Forum Posts by: Ashley Carr-Lewis

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $18,000

Remodeled a 3/2/2 in downtown. So many fruit trees, pecan trees and just seclusion, even though in downtown Gravette.

What made you interested in investing in this type of deal?

The price was amazing and the ability to add in equity. Ensuring to not be upside down. (Which is our strategy.)

How did you find this deal and how did you negotiate it?

Off market.

How did you finance this deal?

Smaller, private bank.

How did you add value to the deal?

New flooring, finishing out the seller’s addition, exterior/interior paint, kitchen cabinets, gutting existing bathroom.

What was the outcome?

House appraised at $240k

Lessons learned? Challenges?

Working with new contractors, not paying the full up front. Being a woman in the industry isn’t always easy.

@Matthew King is it Arkreia? If so, Randy is such a great resource! The people in the group are phenomenal. Truly, wealth of info! Congrats on your first property!

@Jacob Wood thanks! Excited for you to step into this world. Happy to connect, help, and/or chat!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $270,000
Cash invested: $54,000

Cash flow: $400

Purchased off market and under market value.

What made you interested in investing in this type of deal?

This was a great property that I couldn't pass up.

How did you find this deal and how did you negotiate it?

Found this property off market and worked with seller to negotiate deal.

How did you finance this deal?

Through one of our HELOCs.

How did you add value to the deal?

Rehabbed bathroom and a bedroom.

What was the outcome?

GORGEOUS! The value of the property has reached nearly $50K in equity.

Lessons learned? Challenges?

Speak up.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Work with local bank, Arvest.

@Logan Carver I’m sorry, I didn’t see your response. I/We actually buy off market which lead to wholesale and creative finance.

@Christian Huttema - I’m an investor as well as a local local (family has been here for over 150yrs). NWA was a hidden gem, especially during the recession. There was some suffering BUT due to Walmart’s low prices, business for suppliers were incredible. We couldn’t match those sales.

We continue to buy on market but have started to prefer buying off market. (Which has lead to wholesale and creative financing.)

It’s a great place and continues to grow with about 35 people moving in per day. Which still surprises me.

Excited for you to make your move! Keep us updated.

@Stephanie Funk - Congrats! That’s a great find! I need more of those to come my way. Ha! Will it be a rental?

@Logan Carver it really truly is hard to purchase here in Bentonville or Rogers. Perhaps look into the cities outside, such as Centerton or Lowell. Are you looking for multifam or SFH?

@Greg Moses - what part of Arkansas? (Our CPA is also an attorney here in NW Arkansas.)

@Kevin Smith Both properties performed extremely well. Their performance can be chalked to their location. We changed our mindsets for a variety of reasons some of them being: the pandemic, restrictions of STR with the towns (rumor is Bella Vista is next), as well seeing the market becoming flooded.

However, during the height of the pandemic we thought it would have slowed down but rarely had vacancies. The property that we have kept as an "extended stay" STR has only had three days of a vacancy. Now we are looking to find another property in a different area.