JV Opportunity on Luxury Phoenix Fix and Flip

[Thomas Austell]

Would any serious fix-and-flippers be interested in a luxury flip in the Phoenix Arizona suburbs?

I have signed an off-market Agreement of Sale (executory contract) on a property in the Phoenix suburbs. This single-family home sits on a 1.5-acre property and is 6,400 sf, six bedrooms, five bathrooms, a pool, a hot tub, and an expansive balcony. The property has documented annual rental revenue of $140,000.

Looking to see if anyone might be interested in partnering.

DEAL BREAKDOWN

EMD: $50,000

Sub-To (with a 3-year balloon): Mortgage takeover is $5,900/month.

Agreement of Sale Purchase Price: Agreed upon variable price for 3 year period.

Year 1: $2.25m

Year 2: $2.35m

Year 3: $2.5m



ARV: $3.5m

Estimated Rehab Costs: $200,000-$250,000 (Rehab had already begun and I have all the contractor work orders).