All Forum Posts by: John Clark

Just as the title states, I'm looking for a CPA in Northwest Arkansas that invests.  I have a good CPA currently for my taxes but I feel like having someone that can help me structure my real estate business that also understands the ins and outs will be crucial to helping me grow.

I have a potential tenant inquiring about my rental but stated they have a felony from 2017.  He claims he meets all of my other minimum requirements but wants to confirm his felony wont be an issue before they apply.  I want to ask what the charge was or at least was it a violent or non violent charge but I want to make sure I'm not overstepping any legal issues by asking that.  Located in Arkansas.

yep rei-nwa.com is pretty active.  They have 3-4 meetings a month over zoom.  There's a fee of around $150 a year but it's worth it for the network connections.

Thanks for the information, he ended up backing out at the last minute anyway but I think I'm just going to take this seciton out of the lease going forward as it really isn't that impactful where I live.

I use the BP lease agreement for Arkansas and just had a potential tenant pose something that I haven't come across.  He feels that if he is not allowed to use rock salt (as it causes damage to the concrete) then if there is a slip and fall on the ice the landlord should be liable and should be stated as such in the lease.  Granted we don't get a TON of snow and ice here, we do get some but I'm not sure the best way to respond back to this statement.  Any suggestions from the group?

 I have a few reasons I would like the info.  We're looking at local businesses to partner with us in our houses and would like to be able to show them data on how well it's doing in the area and how much traffic we'll expect to come through them.  It can also give us a chance to be more proactive with our pricing throughout the year and take a lot of guessing out it.  Also once our properties are built we plan to expand to other markets and having clean data to evaluate the market can be very valuable.  I think where I stand now, we can probably work with some manual digging on AirDNA, but knowing they sell their data is helpful.

@Michael Greenberg that's good to know! I almost emailed them last night to see if they can send me their data. Do you remember how much it was?

I've been looking around online for either just a data dump of Airbnb for my local area or even a site that can give accurate insights. I've looked at AirDNA but it seems to have a lot of noise on it and doesn't accurately display the cost per rental. Are there any other places anyone uses to get insights for their area?

My builder/partner and I are buying multiple lots to develop on too sell/rent on our own once they are built.  One parcel needs to be split into two lots.  In order to close on time, the bank suggested one person buy the parcel as is and we enter a pre-sale contract between the two of us that when the building is complete, my builder sells it back to me.  We have agreed between us that this is the best route to go, but I'm not having much luck finding anything to use, and our agent doesn't have anything at his disposal to use either.  

Is this something we can just simply write up between the two of us or do we need to get a lawyer involved?  

We have also talked to the city and based on their zoning they will approve the lot split no problem, we just have to go through the processes and don't have another month to push out the closing.

@Greg Dickerson

Hey Greg, you are correct that there are two parcels. However, the one larger parcel is already split into two lots. It's just the bank won't give us separate loans until each lot is on its own parcel or if one person takes on the one large parcel.