All Forum Posts by: Angel Ginnett

I would be interested. Would be able to work in most times/locations but prefer south east valley. 

I have had this company recommended to me.  I spoke to her but did not do the process yet.

Brenda @ CB Doc Preparation I believe they charge $125 PM me for their contact information if you would like it

Even though we tell our applicants not to do the background/credit check and we do not request the background/credit check with the application, somehow they still end up paying the fee and doing the background/credit check.    This is frustrating to me so we've  gone back to paper applications for now until we figure out how to not have them pay for the background check when we already know they will not qualify.  

We're in the middle of this process ourselves. Our daughter attends BYU and her husband is in the process of getting citizenship. In regards to FHA and multi-family, You can no longer do a non-occupant co-borrower FHA multi-family loan with only 3.5% down. I know until very recently you could but they now require 20 or 25% down for non occupant co-borrower for multifamily. Our daughter's husband's income would not count towards the loan, so they could not qualify on their own. So we had to go the non-occupant co-borrower route, with my husband and daughter on the loan and my daughter on the title. Anyway our way around that was to purchase a home with an accessory apartment that did not have separate utilities (hence it is not considered multi-family). We also decided not to do the FHA loan so that they wont have mortgage insurance for ever. but were still able to do a low down payment, maybe 3 or 5% I can't remember. I did have my daughter get her realtors license in UT, this summer, before we started the process. One nice thing about FHA is that as a realtor you can put your commission toward your down payment, so the initial costs would have been low. Instead they were actually able to find a great deal on KSL, FSBO so she didn't end up getting any commission, Anyway. I'd love to help if you have any questions about what we learned or what we are still learning. etc.

Also property management is very prone to lawsuits.   not a business  I would want to get into light heartedly.    

Chris, 

Welcome

I've heard that some of the people with construction experience do well at the auctions because they can pay themselves to do the work and are confident in their bids because the know the rehab costs.  You could check out the maricopa county property auctions if you're wanting north Phoenix.

Hi Timothy Walker,

up in the top right hand corner where your little profile photo should go, click on the outline of the profile photo, on the drop down menu click profile and then when that opens your profile page click on the big profile photo outline on the left and it will allow you to update your photo.  I hope I explained that correctly

I see higher rents on average in Casa Grande than in similarly priced homes in coolidge & florence.  So I think its a great area to invest. Although Casa Grande, Coolidge, florence, Apache Junction and San Tan Valley are all lower priced areas, I feel like Casa Grande is one of the most affordable ones with higher rents.  You can buy a lower priced, newer homes in coolidge, but might not be able to get $1200/mo rent for it like you could in Casa Grande.  Depending on what kind of environment you want to live in Coolidge has a nice small town feel & low housing costs.  I guess it all depends on what you're looking for.  We live in San Tan Valley, but my husband works in Casa Grande two days a week so we always keep that on our radar.  Welcome to the area.  Look forward to meeting you when you get here.   As you're evaluating properties if you would like me to go out and take some videos of them or the area or if you just want a second opinion, feel free to contact me.

In my market we use escalation clauses, where in your offer you state something to the tune of "willing to pay $500 over the highest offer up to xxxxx$," and they must provide a copy of the highest offer we are out bidding.  

If I were the seller I too would choose an offer with a conventional loan over one with FHA financing because of the potential of things like peeling facia paint.

Good luck.  

SJ fowler has an office in phx and mesa.  they do property management for a lot of smaller multi family units.  Their prices are average but they do a good job, (I used to work there)  you can find them on the web.  If you are buying a B-C class multi-family they might be a good fit. 

Mark Brower properties does not charge an up charge for repairs and things like that so If I were doing single family residence in a good area I would probably go with them.

I have had bad feedback from tenants in properties managed by apartment hunters, so maybe get a second opinion before going with them.