All Forum Posts by: Anissa Hernandez

Thank you for sharing this information. I enjoyed reading it. 

@Brenden Mitchum Hello there! I wanted to thank you for your input awhile back. I ended up not going through with the deal. There ended up being other expenses that was not included in the initial offering. So I felt it was not good deal for me at the time.
i was curious how your investing is doing in Georgia? Has anything changed since Covid-19 with your real estate business? 

Hi everyone! I'm a new REI looking at getting into multi-family rental properties here in Phoenix. I started looking into some properties and found some with seller financing options. I found 2 properties with the same owner. I had contracted the commercial broker helping with the sell listings. He told me the owner is asking 19% down with seller financing however, then he told me the owner is open to any type of deal within reason. He said to come up with some options and email him my terms. I would love for you to help analyze my deal to see if it's good to even get, and then after listening to many numerous episodes and other investors on how they did their deals, I'm hoping maybe asking for a $0 down deal (no money down or little money down) option I can present! I have the outlook that the worst the owner could say is no right?! Here is the 1st property : $349k - 2 units (3/2, 2/1) On this property the lowest interest rate would be 6.5% because there is a mortgage on it at this rate. These are his "actual summary" Gross Annual rent is $22,332. Vac Loss $1,116. Effective Gross Income $21,216 Property Taxes $990 Operating Expenses $5,238 Total Expenses $6,228 Net operating Income $14,988 The 2nd property is $495k - 3 units (2 -2/1 & 1bdrm) These are his "actual summary" Gross Annual rent is $35,820. Other Income $600 Vac Loss $1,791. Effective Gross Income $34,629 Property Taxes $2,245 Operating Expenses $6,528.00 Total Expenses $8,773 Net operating Income $25,856 My thoughts were to do seller financing for 12 months to 18 months, then purchase the property through a conventional loan. If I did a loan similar to a HML for the first 12-18 months would that be worth it? I'm not sure if I would be in the hole or if there would be a cashflow coming in for me on top of the mo premium to the owner? All suggestions, input, and advice are welcome.

Hi Dan,

I have seen meetup's on here in the Mesa area.  I haven't seen any in Phoenix or Scottsdale area.  As for myself I have attended the AZREI & Phx real estate club meetings held in Phoenix.  Hope this info helps.

Hi Mac so the Phx real estate club meetings this month is on 6/25. It's located on 24th street. You can get the address off their site. So it's part of AZRIEA but a smaller subgroup, more intimate meeting, but very similar and the data they give out with the AZREIA meeting.  Glad you liked the meeting ! The meetings definitely give you lots of insight on what's happening in the Phx market for rentals & flips.

They had one last month I attended that had a guest speaker from the PHX economic council talk about growth & development w/ businesses coming to the valley.

Have you started doing any investing? What are you interested in doing?

Hi Mac,

Welcome to BP!  I have been attending the PHX real estate club meetings, and the AZREIA meetings in Phoenix.  You can check out their calendar for the meet up times every month on their website.  The next meeting should be coming up very soon.

@Stephen Rockwell

Thank you for sharing your insight. It's much appreciated.

@Stephen Rockwell

In your post you mentioned that you have an LLC in AZ. I was curious if having an LLC set up before doing your 1st house as a flip or is it okay to do your first house flip and then afterwards set up an LLC? I have not flipped any houses yet. I'm interested in doing so in the near future. Any help and or suggestions appreciated.

@Wes Blackwell Thank you for sharing the knowledge with the steps when looking for a property.  Also for the examples.  I'm a Arizona native and the neighborhoods have definitely changed over the years, you made a important statement by saying a neighborhood you would live in if you had to.  This gives a different perspective to open up to different areas to look at for investing. 

Do you also help with fix and flips?  I'm interested in doing some house flipping and then just selling them. As a RA with AZ if the numbers work do you still think its a good idea?  Reason I ask is because a friend who does flipping is not doing any right now & says the market will crash & just wants to wait a while until doing it again, and any deals out right now are not as lucrative as before?  He was doing in the PHX areas where they were getting 50-80k a flip. What are your thoughts? I would love to hear from others also. 

@Shiloh Lundahl wow that number of $665k is amazing if they all buy in the 5year.   I'm going to study the worksheet you added. Thank you for the advice and how you are doing it. It definitely helps put things in more perspectives. It's good knowing that type of strategy is working here.