All Forum Posts by: Andrew Rodgers

@Michael Benton First off congrats on the new home!

In my experience a years time is perfect to get my reserves up to make the next purchase. You can put any house hack money directly into the next home. I currently have a tenant renting a room at my place for 800/month. (Could potentially get more) All that goes to my next investment.

It doesn't seem like much but it adds up!

1 property a year seems slow, but if you could keep up that pace, you'll start to see the power of exponentials pretty quickly. Good luck!

@Bruce Holler Congrats! Welcome to the club!

Do you know what you'll be focusing on or what your goals are so far?

Maybe I can get you some supplementary resources beyond your bootcamp

I've been wholesaling in the Phoenix market for 5 years now.

I'd recommend doing two things:

1. Just start, it's not very expensive to just start talking to FSBO sellers and getting your reps in now. You'll learn what people have objections to pretty quickly.

2. The second option is to work for someone. I worked for one of the "gurus" - I learned how to wholesale, got paid to do it and made money for the company.. They're always looking for motivated and hungry employees.

Feel free to reach out if you have any other questions but you can do it, even at 18.

The AZREIA, is great!

But there are a ton of networking opportunities going on throughout the valley any given week. Did you have a specific niche in real estate that you were trying to get plugged into?

@Austin Bull Thanks for posting the question, I'm learning a ton from the others commenting.

There is a shortage, the rates are high, home pricing are "bouncing back" - but home prices historically rise going into summer and deflate as we approach Christmas and the holidays. How you want to use this info to decide on what to purchase is completely up to you, but keep that in mind if you are feeling pressured to purchase something this summer.

@Brandon Espino There's still a ton of demand on listings and prices are still a bit high. I don't see demand decreasing anytime soon either, with the new CHIPS act theres been an explosion in job growth.

Were you thinking of expanding to find rentals, or do flips?

Hi fellow investors,

This question comes because I've recently come across a large parcel of land (100 acres) that I'm thinking of subdividing and platting in to more than 6 lots.

In Arizona, I understand that you have to create a public report which includes things like a map of the subdivision and guarantee of a 100 years of water supply. 

My question is, how do you go about getting started on the report. Who should I talk to that has experience? In general what is the range in cost to generate the report?

LIke @Will Barnard mentioned, a lot of wholesalers don't know how to property evaluate a rehab and are getting properties under contract way too high.

As a wholesaler myself, I really appreciate when a flipper spends the extra 5 minutes to build a relationship and educate me on why a deal does or doesn't work. It ends up being a win-win for both of us because now I can more accurately find deals that fit their buy box and for me I know I'll have a reliable buyer on my hands in the future to send deals to.

[Solicitation Removed by Moderators]

Hey @Cameron Gomez

Great to meet you, Phoenix is my home market as an investor/agent for the past 5 years.

I'm not sure when you're going to be in the city, but there's some great event I like going to. One is coming up on May 23 buyandholdevent.com, in Scottsdale, which is great to meet some like minded people in person.

Other than that, if you have questions on how to find properties or need any other connections in the city feel free to reach out.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $25,000

For this property, we followed a traditional BRRR with a seller finance to acquire the property.

It's a 4 Bed 2 Bath Single Family Residence south of Tucson. We were able to find the home at $155,000 and financed it at 10% down and 6% interest. The great thing about is that we were able to stay in the home for a year as we fixed up the property, and after the year was up we refinanced into long term lending with zero down payment because of the equity gain from that year.

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

The creative financing aspect of it was interesting. Also, the fact that it was in a different city midway through Covid. The challenge of going and learning a new city and making friends was more appealing than just being stuck at home.

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

The deal came through my business As-Is Cash Offer. The seller was reached out to by cold-call.

How did you finance this deal?

The deal was seller financed: 10% down, 5% interest and a 1-year no sale clause.

How did you add value to the deal?

We added value by living there and doing a light light remodel. We did little things like new floors and new paint, then called it a day.

What was the outcome?

The outcome was a cash flowing rental with over $100,000 in equity. The rental is awesome and because of its location south of Tucson we're able to find qualified renters from neighboring companies like Raytheon or the U of A technical park.

Lessons learned? Challenges?

The big takeaway again is to expand my horizons and follow the deal.