All Forum Posts by: Anthony Dee

@Dennis M. Good advice. I assume I need to first check to see if they own that property out right, correct? Is that something you can do at the county assessor's office/website? Not sure where to start.

Thanks again, Marco Zacarias. The property is at Simpson and Convent. Very sweet spot in the Barrio. I ran numbers thinking I could rent each unit for about $1.75/sqft. It's a very sweet mud adobe in great shape. Still, I wonder if $1.75 wasn't a bit bold. The rehab would be very minimal. The owner recently removed a sink to make the duplex a SFR. I would just be putting it back and calling it a duplex again. Pretty simple I think. What's your opinion on rent at that specific location. Keeping in mind it's a dreamy adobe... Each unit is 825sqft.

Karl Krentzel, 

I was wondering the same thing. I'll ask my realtor if she knows how much they own. Thanks!

Michele B., 

Thanks, I think with the numbers I'm looking at I would still cash flow, just not that much. Is an "angel" investor just someone who would give me a great deal? 

Anthony

Marco Zacarias, it is in the 85701 zip code. Barrio Viejo

@Grant Rothenburger thanks! I actually will have some reserves. That's the reason I'm looking to finance half the down payment. So I can keep some cash on hand for emergencies. I appreciate your advice!

Looking for advice! I'm planning on purchasing my first small multi family property this summer. I have my eye on a duplex in Tucson, AZ that's historic and a little high end. I'm looking at about $110k (or so) to handle down payment, closing, repairs etc. That's a bit more cash than I'm able to come up with all at once. So, I'm trying to be creative and ask "how can I afford this?" I can comfortably come up with half of the cash needed to get this thing going so I'd like to borrow the other half (about $55k). I'm thinking about a home equity loan or using private money from a friend/colleague to make up the other half of the cash. This is really not a rehab job, it's a buy and hold. Paying down that other $55k down is probably going to tank my cash flow until I can pay it off. Could be 1-2 years. So, my questions: 1. Does that seem to risky? To use up my cash flow while I pay back the down payment loan for the first couple years? 2. If I can do it private, should I? I feel like it's easier and the terms are more negotiable. 3. But is it actually easier?? I've never done a private loan before and nor has my friend/colleague. (We will for sure hire an attorney). How/where can I research specific structure for a deal like that. I want to make sure everyone is happy and getting a good deal. Thanks for any advice or resources you might have! Anthony Dee

I'm having order of operations problems and hoping I can get some advice. My business plan is to build a storage facility in Tucson, AZ in phases, beginning with RV/Boat storage and building out over time. I'm working on writing my business plan and also thinking ahead about funding options. I would like to do some early, and fairly basic market research on the Tucson area as a whole (seems like lenders will want to know this!). Eventually I will identify a particular piece of property and spend the money on a more exhaustive feasibility study for that specific location, but I feel like I need to have done some research on the Tucson area or SE AZ as a whole in order to see what I'm up against. Is this something people do? I asked a feasibility study specialist to recommend some resources but I can't seem to get her to respond. So, if anyone has a storage feasibility company they recommend I would be interested in that as well. Thanks everyone!

Anthony

Thank you all so much. That's exactly the sort of advice I was looking for. I really appreciate your help. 

Anthony Dee

Hi thanks for replying. I'm looking at land that is commercially zoned in the city of Tucson or in Pima county. My intention is to develop a storage facility. I thought about using delinquency lists to identify motivated sellers but I don't feel like I have a good way to determine a price on land that might not currently be for sale. How do you come up with a number with which you make an offer?