All Forum Posts by: Tim McKelvy

Bad idea, Tim. Think about all the time that would be wasted in such scenario. Notwithstanding the money that you'll get out of the circulation, for that amount of time.

Just look at deals under price, and get them to get cashflow from day one.

Developing have too many moving parts.

Highly not recommend it!

Great thanks for the insight!

1 Vote

Fayetteville, Arkansas

Thanks for the input. Would likely not be a massive project, duplex minimum and 4 plex maximum. More than likely be buy and hold, even as we continually have people moving to our market, new construction does scare me a little. Worried it will turn into a money pit!

1 Vote

Fayetteville, Arkansas

What are your thoughts on finding land and developing/building multi-family units? Depending on price of land seems it could potentially be a good investment depending on builder etc. For reference our area (NW Arkansas) rents are anywhere from $1000-$2000 on average but there are outliers in both directions. We are also home to 3 fortune 500 companies JB Hunt, Tyson Foods, and the king: Wal-Mart. We have 25 families moving here every day, we need more multi-family options. Anyone done anything similar?

1 Vote

Fayetteville, Arkansas

Quote from @Michael Porche:

Quote from @William Anderson:

Add the Mississippi Gulf Coast to that list. Our prices are lower than any on your list Michael. We have 12 casinos and lots of beaches. The area is conservative and most cities permit vacation rentals. I regularly help people find properties that will meet their financial needs. Our prices are going up as and interest rates are up as well. This is putting some strain on an investor's ability to buy a property and use it 100% as a vacation rental. The market for vacation homes that are rented when the owners are not in residence is good and they can make financial sense.

I recently purchased two 10-year-old houses within walking distance of the beach for $127k each. Turned them into vacation rentals and they are generating great income. I sold a rehabbed house a little further from the beach but close to clients who converted it to a vacation rental, and they paid $198,000. They told me it is getting good rental traffic. Just some things to consider.

William! Would love to talk and see what you got going on down there

Absolutely happy to chat anytime-I'll try and reach out this week.

0 Votes

We have a lot of AirBnBs in our market here in NW Arkansas. Bella Vista has over 250 miles of mountain bike trails so we have lots of visitors just for that. Then we also have the University of Arkansas in Fayetteville, there are a lot that are filled during football and basketball season. The only downside is a lot of the local municipalities are starting to limit how many STR can be in each city etc.

1 Vote

I am a RE agent and beginner investor. My five year investment property goal is 66 doors. My goal for the end of the year is 5 doors. I do not have a ton of $ for downpayment. What have you done for your first property? HELOC? Commercial Loan? Construction? I am thinking start with a duplex and possibly get another one and then a SF or a duplex and a triplex. Always looking to learn from those of you who have done it a long time.

0 Votes

Fayetteville, Arkansas

All Forum Posts by: Tim McKelvy

Tim McKelvy has started 2 posts and replied 6 times.

Post: Buy land and develop multi-family?

Post: Buy land and develop multi-family?

Post: Buy land and develop multi-family?

Post: TOP MARKETS to invest in with Airbnb

Post: TOP MARKETS to invest in with Airbnb

Post: Trying to Buy 1st Rental Property, Which Route Should I go?