All Forum Posts by: Armando DeGuzman

Hi Clementina, it appears the assessor square footage was incorrect since permits were acquired but the updates were never done. So the assessor is showing 300 square feet more than what is there.

We ended up bringing this up to the seller and were able to use it as negotiation leverage. The purchase price was dropped by $12k. We had our GC review the property and he indicated we could recapture that 300 square foot by turning a workshop into a 4th bedroom that overlooks the mountains and pool. All in all it was a good learning experience and a reminder to always verify square footage with what is recorded in the county.

Overall, this raises our ARV and lowers our purchase price which allows us to make this deal more profitable.

I have a fix and flip property under contract and am still in my inspection period.  During my due diligence I discovered that the assessors office has the square footage of the house at 2342 sqft.  This felt a bit off seeing as how another house with a similar floor plan was approximately 100 square feet less while having additions (extra bedroom) that our house didn't.  I did some poking around on the assessors website and found that the assessed 2342 sqft is including an enclosed patio and a workshop.  What would be the best way to proceed given this scenario?  Should I be concerned that when I go to resell the property the inspector will measure the property and it will not line up with the assessed square footage?

Question for my experienced Tucson investors. Does anyone have a good range for rehab costs per square foot in the Tucson market?

Hi Taronda, I live in Tucson and Im just getting started in my investment journey as well. What I have found very helpful is to find a local realtor who is familiar with investing and preferrably one who is also an investor. They will be able to look up and provide ARVs for you. Also have them provide you with the listing comps not just the ARV number. This way you can start to educate yourself on what to look for. I would also recommend grabbing one of the books on Bigger Pockets. The book on Flipping Houses is good. Best of wishes on your journey!

@Bryant Bagley thanks for the info. Def agree on the networking aspect. Doing that but also want to make sure I’m increasing my at bat by combing MLS and learning how to analyze deals better.

@Jeremy Taggart thanks for the response. Do you have any preference on which one of those sites to use? Also, any specific search criteria you recommend (i.e. price reduced, on market greater than 90 days, etc.). As you mentioned, maybe a good one then would be 2 bdrm with +1000 sqft?

Wondering what type of MLS search parameters are used to find great deals for listings. Also, what other listing services are recommend (i.e Zillow, Redfin, Trullia, Realtor, etc)?

@Ron S. Thanks for the info. Good to know. As you can tell Im new but am cautious and searching for knowledge. We have enough in the margin to seek legal advice which I believe I will do based on the good discussions and comments. Thanks for your time and insight.

@Blair Poelman No offense taken. I welcome the advice and feedback. Always open to learn from seasoned pros. i may have misstated the original post since I am a newbie. The plan as I understand it is for the lender is to execute the power of sale clause and proceed with a trustee sale where the property will be priced with all the late fees so the trustee passes on the property and the lender takes posession. They will in turn then sell the property to us. Im just wondering how long this process usually takes. The trustee sale is scheduled for 11/15. Appreciate the guidance. This thread has been enlightening and both entertaining.

@Rick Pozos do you have any resources you can point me to where I can get better educated on the strategy you mention? In this scenario the private money lender is quite seasoned and well thought of in the community. It looks like the plan for the lender is to execute the power of sale clause and proceed with a trustee sale where the property will be priced with all the late fees so the trustee passes on the property and the lender takes posession. They will in turn then sell the property to us.