All Forum Posts by: Andres Cardenas

@Jeremy VanDelinder Thanks for the insight, I would appreciate it if you can take a look, I'll send a few pictures if you don't mind

@J Scott Thank you, I appreciate it!

Hey Ben, love what you and Sam did to Haven at South mountain. I live'd there from 2017-2019, I moved out around the time you guys started renovating the units. I drove by a few weeks ago and the place looks great, I see you took advantage of the lounge by the pool and converted it to a gym. I had a feeling that place had lots of potential, the South mountain area has had huge growth in the last few years. I think South mountain village is going to be very similar to the Arcadia area in the next 10-15 years, what do you think? Out of curiosity did the QT gas station next door play a factor when deciding to purchase this complex? 

Are you looking for residential or commercial? The neighborhoods with higher rents are Arcadia with average at 2,200 for sfr or small multi, 1-2 bedroom apartments rent for about 3-4k. Encanto is at 1,700 average, and about 2-3k for 1-2 bedroom apartments. South mountain averages 1,350 and 1-2 bedroom apartments run for about 1-2k. But the higher the rent the higher the price, at market value you're going to run in to 6-7% cash on cash return, but I don't think you should have trouble finding a 8 or even 10% coc  if you can find under market properties.

Came across a 3/1 in Phoenix with pretty bad fire damage, it’s listed at 89k and has been listed for sale for 52 days now. The house right next door which is a 4/2 is selling for 219k and other comps are around that range. So besides all the basic needs that a house requires to be habitable from drywall, cabinets, roof, etc. what other repairs are needed? At what price would this house make sense? And how long would a rehab like this take? Thank you in advance!

@Cort Bacon I agree, a small multi would be ideal. Was looking in the 85367 area, any thoughts ?

@Shiloh Lundahl Really appreciate the advice, nice to know about the 3 year lease. Is that something you up sell while interviewing a tenant or do you just put it out when advertising?

@Jonathan Greene Thanks for the feedback!  and you are right I'm sure there's people making it happen in Phoenix I also have my eyes open for that. Don't have much capital but I want to get started, so I'm trying to work all my angles. I don't expect to get rich off the first one anyways. 

@Shiloh Lundahl  Since they are smaller cities I was thinking areas closer to blue collar jobs will have more of a demand, I feel if I can find a spot where there is decent and steady income being made I  can have a better chance of lowering vacancy. What are your thoughts?

@Shiloh Lundahl That's awesome,