All Forum Posts by: Brian Volland

The news isn't exactly breaking since he's been in talks to build a "smart city" west of Buckeye since 2017. No word on development that I've heard recently though.

I'm certain someone has encountered this before. 

One of my properties is one of a cluster of 4plexes but only one is close and open to my property. No issues for the first 4 months but then the close property had a tenant bring in a roommate with 3 kids. Now that tenant (not mine) is so loud and inconsiderant that I had one of my tenants break their lease to move. 

The owner/landlord of the other property is as hands off as possible but did try to remove the roommate until he was scared of by threats of litigation. We gave the landlord a copy of the local tenant landlord act showing that the roommate could be removed without issues or courts being involved but he has backed down and I don't have a strong enough relationship with him to push it. 

At this point we've been reduced to just calling police for noise complaints when other tenants let us know but I'm not sure if there is anything else I can do shy of aggressively demanding the other owner get his tenants under control. Any thoughts or suggestions would be appreciated.

I have. We're certainly not done but we're still seeing growth ahead of schedule.

We found a place but it is a "hidden value" property. That and off-market properties are the key in this area, I've found.

I have the document we drew up, however, we did not have to use it. We "lucked out" and found one of our tenants was in irreparable material breach of the lease. They were out in less than 3 days. 

If you'd like to see what we used, msg me your email and I'll send it along.

Some things to consider are not paying until moved out and all keys returned, stating that the property must not be damaged or otherwise change overall condition between signing and vacancy, property must be "broom clean", all possessions left behind are forfeit and will not be held, all tenants regardless of whether they are on the lease must vacate including pets and animals. 

Thanks for all the advice. Sadly, I close in 5 days so negotiating as a term of the contract out. I've sent the request for the guy to be served 30-day notice so we'll see how that goes but ultimately it's too late to try to make it the seller problem. I'll add that to the list of lessons learned.

Thank you for the feedback. I am eager but I've set both an upper limit and a much lower starting point. If I have to work my way up, at least I know where my firm upper limit is.

I'm about to close on my first property which is a 4plex. The property is fully occupied right now but all the units need to be rehabbed and most of the tenants are on month-to-month. My plan is to get in to one of the units ASAP to get the rehab done and correct rents so I'll be serving a 30-day notice to vacate immediately after closing. I'd love to do cash for keys and get in that much sooner but I wanted to check and see if there are any local laws that would prevent me from doing so. 

So experienced AZ folks, is there anything anyone is aware of that would prevent me from approaching a tenant and giving them the option of the 30-day notice or cash for keys?

So I'm under contract for a 4plex and it looks like it's going to need to be gutted on the interior minus walls and ceiling. 

So Phoenix Fix and Flip folks, where do you buy your rehab supplies?  I'll be looking for cabinets, counter tops, floor tile, appliances, bathroom tile, and ceiling fans to start.

I know of a couple places but I haven't had the chance to stop in yet so feedback on these places would also be helpful. Stardust, Desert Liquidators, and Building Materials Outlet are the few that come to mind.

Posting here because it's really a financing question. 

I've found a few properties in my area that are "retail priced" but have areas that have been ignored by the seller which could improve cashflow to a worthwhile level; for example, not charging pet rent/pet fee, not charging extra for private, fenced yardage, not charging for laundry in-unit. Similar properties nearby sold for about what the seller is asking. I will, of course, try to get a better price, but my issue is financing. 

Lets assume that bank/credit union financing is off the table, as is seller carry and loan assumption.  That leaves hard money/private money (That I am aware of). Lets also assume that I don't have a large down payment readily available. Is there a way to structure this to be desirable to hard money/private money lenders? 

Normally they want flippers who can show a drastically increased ARV. This isn't that kind of deal. If this were commercial, it'd be cake since the income can be shown to be improvable by $75-150/unit but ultimately this is a buy a hold w/ light rehab. Increasing the income stream won't effect the value the same way it does in the commercial world.

Thoughts/Help?