All Forum Posts by: Mark Rogers

If the LLC has an S-Corp election, you might also talk to your accountant or a tax attorney about whether you want to rescind the S-Corp election before transferring real property into the LLC. It is my understanding that that arrangement limits your flexibility in moving real property assets around and can create a taxable event if you later decide to move the property into a different entity.

I stumbled across a site with joke maps, and the joke map for Central Arkansas looks like it might be useful to out-of-town investors trying to get a feel for an area if taken with a grain of salt.  If considered in combination with the Trulia crime map, this might be useful.  For those in other areas, if you find a judgmental map for your area, does it look like it might be useful to someone from out of town who is trying to get a feel for an area?

Judgmental Maps - Central Arkansas

Andrew Adkins at American Abstract is a highly successful investor and is very investor-friendly.

I have fortunately had very little interaction with insurance companies and claims so don't know the details of when they quit writing, although I have heard that making a claim is a strike against you regardless of whether they find coverage or make a payment.  I've been very happy with NREIG, which seems to play by different rules, so you might give them a shot.  If that doesn't work and you partner with others on projects, it would be worth exploring whether a different entity could get insurance.  Best of luck!  

Little Rock is more of a slow and steady cash flow market and would probably fall at or near the bottom of those cities as far as appreciation goes.  It's easier to find cash flowing properties with 20% down, but we don't get the roller coaster peaks and valleys like a Dallas or a Houston.

SFR sales for Pulaski County continued to mirror moves from 2019, with lower sales volume but stronger numbers due to low inventory. Sales volume was 39% below 2019, but properties sold for a median of 99.8% of list price in 11 days. Inventory inched up to a still low 0.9 months.

SFR sales volume this week in Pulaski County trailed 2019 by 29% but hit a new high since the pandemic at 108. Houses sold for a median of 99.5% of list price in 13 days. Inventory remained at a very low 0.7 months.

The sponsor of the resolution withdrew it from consideration by the Quorum Court, so that one went nowhere for now.  The next one will come before the Little Rock City Board of Directors on August 4.  I don't have a feel for its chances of passing the City Board but strongly suspect that the Governor will not go along with it either way.  The Governor has been good about standing up to pressure from the left, and this looks more like political posturing in preparation for November elections.

At a meeting tonight (7/28) the Pulaski County Quorum Court will vote on an "eviction moratorium" resolution that is very similar to the one that will be considered on August 4 by the Little Rock Board of Directors. The meeting is not open to the public, but the Quorum Court has procedures for emailing public comments. Below is a link to the page with the rules for making public comments. Comments must be submitted by 4:00 PM prior to the meeting.  https://pulaskicounty.net/pulaski-county-quorum-court/

The good news is that both of these governmental bodies know that they cannot take our property rights, so both of these resolutions are voluntary.  Both resolutions urge the Governor to issue a moratorium that is not voluntary.   The Governor has refused to do so to date, and my best guess is that the Governor is not inclined to implement this type of moratorium.  Attached are copies of one of the resolutions and a chart illustrating that there is no "eviction crisis" in Pulaski County, where the eviction rate is less than half the normal rate as reflected from 2019.

SFR sales for Pulaski County for the week of July 12-18 were solid. The story of the week was speed, with houses selling at a median of 7.5 days on market. Sales volume stayed the same as last week but dropped to 39% below 2019 sales, and properties sold at a median of 98.9% of list price. Inventory held steady at a very low 0.8 months.