All Forum Posts by: Stephen Holloway

The property is marked with a red checkmark in the image. Note, there is no property address.

5-acre property: PCL #770-17499-000, Goshen, Arkansas

Please let me know if any questions.

Thanks,

408-838-3033

[email protected]

The most recent asking price is $975k.

Sorry, I'm posting this for someone else. If you can call to discuss with the agent that would be great, thanks!

Location: 2405 N Center St, Fayetteville, AR 72701 (Washington County)

Currently Zoned Agriculture with Commercial on 1 side and Residential on the other.

Broker:

Williams, Anne
Arkansas
(901) 620-3600
License: PB00066390

Will provide Offering Memorandum upon request currently out to a short list of investors/developers at this point. Could be a great self-storage location, Enclosed Boat & RV, multi-family, or retail.

Investment Highlights
9.2 acres of flat land with few trees which will make it easy to develop
The site has over 600' of road frontage on Center Street with traffic counts of
11,000 per day
Elkins is currently growing at a rate of 7.36% annually and its population has
increased by 62.47% since 2010.
Three Fortune 500 Companies located 15 to 40 miles of the site, including Wal-
Mart, Tyson Foods/Tyson Chicken and JB Hunt Transportation
Northwest Arkansas is rich with lakes, parks, mountains and SEC Football
which are all strong demand drivers for boat and RV storage
Located approximately 3 miles from the areas elementary, middle and high
schools

FAYETTEVILLE, AR-MO
The Fayetteville metro is best known for being the home of the University of
Arkansas and several Fortune 500 companies. The Fayetteville metro encompasses
Benton, Madison, McDonald and Washington counties in northwest Arkansas and
southwest Missouri. The region offers residents many recreational activities at
nearly 4,000 acres of parks, lakes and rivers. The market is expected to add roughly
50,000 individuals over the next five years, notably outpacing the national rate of
growth.

ECONOMY
METRO HIGHLIGHTS
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

CORPORATE GROWTH
Several corporations are based in the metro, the largest being Walmart. The company employs
more than 14,000 workers in the area.

MANUFACTURING
A large manufacturing sector includes Delta Group Electronics, Elkhart Products,
Marshalltown, Pinnacle Foods Group and Pace Industries.

YOUNGER POPULATION
The Fayetteville metro’s median age of 34 years old is lower than the United States median. The
younger population is attributed to the area’s university.

ECONOMY

 Corporate headquarters are a significant part of the metro’s economy. In addition to Walmart, Tyson
Foods and J.B. Hunt Transport Services, Inc. are based in the area.
 Fayetteville is home to Arkansas’ largest state university, the University of Arkansas. More than 29,000
students attend the university each year. The university is also one of the area’s largest employers, with
more than 2,700 full-time faculty and staff.
 Another segment important to the local economy is health care. Major hospitals include Washington
Regional Medical Center and Fayetteville VA Medical Center.

Yeah, i did finally close. Worst. Experience. Ever.

Agree 100%!!
They are not upfront about all of their fees, they are extremely rude to the point that they made my loan broker cry, they pressure you to use their recommended insurance company, and they take forever to get anything done.

In addition, I refinanced away from them right after we closed because of how horrible the experience was, and they called my closing agent and loan broker (not me) several months after to say that I'm at risk of being in default due to not paying their insurance company?? I no longer had anything to do with them, their insurance, or the old loan. 

They need to be shut down immediately.

Thanks!

I expect to rent it out for ~$1,000/month

I'll keep everyone posted.

Investment Info:

Single-family residence buy & hold investment in Euclid.

Purchase price: $54,000
Cash invested: $15,000

Excited about this deal that's currently in process in Euclid, OH. It's another SFR, $54k bank owned purchase. Needs minor repairs to basement, garage, cement work, and internal updates.

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

I've done several in the past, and I like the Euclid area for rentals. It's also near a new Amazon center that's opening up.

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

I heard about the deal from my local real estate agent. My strategy for this deal was to take on responsibility for the POS items, offer no contingencies (after my agent and contractor visited and took video), and all cash.

How did you finance this deal?

I'll refi after rehab, and finding a renter. Likely with Chemical Bank.

How did you add value to the deal?

Making repairs, updates carpet/paint/appliances, and closing out the POS items.

What was the outcome?

Currently in process

Lessons learned? Challenges?

New type of purchase as a Fannie Mae Homepath that was previously at reverse mortgage that the bank took back.

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

Yes, agents (Howard Hanna), contractors, property management (Howard Hanna), and eventually a lender.

Hi All, I did a search for Norwich, NY on BP and found this post. I thought I'd reach out to you all. I'm in the process of purchasing a property in Norwich, NY. 38 Hayes St. I was wondering if you had any recommendations for property managers, contractors, and advice on if this house might work better as a flip, or a rental. If anyone is interested in talking further or knows anyone that can help or might be interested in the property please let me know. Any responses are greatly appreciated. 

Thanks!

Stephen

Hello All,

I'm an investor currently in the process purchasing 2 buy and hold rental, leveraged deals in Ohio (1 near Cleveland and 1 near Cincinnati). 

I've also found a great flip opportunity as well, near Cleveland. Purchase price around $25k, rehab costs ~$32k, and ARV estimated to be around $85k.

I'm looking for funds that won't affect my 2 deals currently in process through banks. Any other suggestions besides friends or family? The amount is so small (~$57k for purchase and rehab) that many lenders won't bother with a short term loan.

Thanks in advance,

Stephen