All Forum Posts by: Jennifer Schelkopf

@Sarah Bull thank you for sharing this deal! I also have student housing in Fayetteville, though mine is a building with 4 separate 1 bedroom apartments. I'm really interested in the idea of renting by the room. Have you rented by the room before?

Hi @Edgar Duarte - I live and invest in Northwest Arkansas. I formed an LLC with my spouse just a few weeks ago. Before doing so, I asked our CPA a few questions about tax implications and it was really helpful. I definitely recommend that route! For us, the LLC will introduce a new form to our taxes, but we don't expect much else in terms of impact. Your situation may be different and that's why I'd recommend asking your CPA.

I'm happy to share my experience with forming an LLC, along with recommendations for a local CPA and attorney, if you're interested. Feel free to DM me!

This is awesome, thanks for sharing. I'm also a big fan of pruning the portfolio while the market is hot!

"The fee for the third party intermediary was about $1000. I don't know if that is a standard rate based on the size of this deal.."

I paid $800 for my 1031 exchange in September of 2021, which was the standard rate regardless of deal size. I worked with Wade Wright in Fayetteville and highly recommend him!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $50,000
Cash invested: $20,000

SFH in the outskirts of Texarkana, AR. We got this deal from a family member, and expect to sell it in the next couple of months to take advantage of the market conditions.

Hi @Aaron Lancaster, thanks for sharing! I bought a quadplex in Fayetteville this year too, although it’s not super close to the campus. If you don’t mind sharing, how big are the units, and how much are you expecting to rent them for?

 You’re welcome 😀

Here's two recommendations for Arkansas properties:

Greg Brown, partner at Harrington Miller. Greg spoke at a local investor meetup in August, and I was really impressed by his experienced and knowledge. He specializes in quiet titles and does a lot of them every year.

Will Kellstrom at Watkins Law Office. I know an investor who has worked with Will on several quiet titles, and recommended him. 

The last time I posted recommendations the post was removed for some reason. It might be because I included phone numbers, so I've skipped that this time. But you can find both of these attorneys on google.

Great deal, congrats. Also love the title 😂

Thanks for sharing. What are you expecting to spend on the storage facilities?

@David Weskamp I live and invest in Northwest Arkansas, and I love the white river! My Dad and I bass fish. Well, he's the bigger fisherman in the family. My husband just bought a fly fishing rod, and if you don't mind a newbie, I'm sure he'd love to join and chat real estate when you visit!