Phoenix Deal Analysis

[Micki M.]

I'm based in Denver and my flip partner and I have been looking at out of state markets. He's keen on the Phoenix area but it's a big market to get a handle on. I'd love your feedback on this deal.

1400sf 3/2 SFH in Mesa, good bones, nice yard, cul-de-sac, no HOA, needs aesthetic updating.

We can buy it for $98k 

Cost to get it rent ready approx $6k with an ARV of $135k

Cost for full rehab $25-30k with an ARV of $155-160k

We're falling under the 70% rule, but since it's our first AZ property we shopped it around a bit as a wholesale and even though our list isn't long I was surprised I didn't get much interest. Am I missing something? What do you locals think?