All Forum Posts by: Casey Cuppy

Chances are pretty good you will receive it. Hard money lenders look at a lot of different things when then lend. A large part of their decision comes down to the property and if it is a good deal. Getting hard money is usually an easier process than a normal home loan would be, but it also has very different terms. Make sure to be on the look out for how many points you are being charged and what rate they are giving you.

What state are you in? If you are in AZ I can get you into contact with a few different lenders I have worked with.

I agree with @Andrew Syrios If you are going to do it so quickly you might as well skip the hard money as it will just cost you more money. Most hard money lenders have a minimum hold time so you are going to be making at least a months worth of payments on it and as mentioned above the point will add up quickly.

There are a multitude of great multi unit properties available in Phoenix. One thing I like about multi units is that unlike a single family home you are very unlikely to have the entire building vacant at any one point which helps keep you cash flowing. I agree with @Thai Foo on this that cash flow is obviously the most important thing here.

With such low interest rates it is a great time to buy. If you can get locked in at a good rate that will just help your return down the road as rents rise.

Another thing to make sure you look at is that you are getting accurate cash flow numbers. You want to take out a vacancy rate, utilities, management fee, etc., etc, to make sure that you are getting an accurate number on your take home.

I have recently sold a few great cash flowing properties to some clients of mine that they are very happy about.

That is kind of a tough question to answer. Obviously it depends greatly not he area and neighborhood of the specific home and who you are marketing to. One thing that I would say you can peg rents on more so than any other number is interest rates. Rental rates and interest rates have always been tied to each other. Interest rates go up so do rents. That is what I would use if I were to "peg" it to something.

@David P. Hi. A great place for seasonal vacation rentals is Scottsdale. It is a great tourist destination and also has a lot of spring training baseball nearby. You can make really good money doing the seasonal rentals there. Another thing to think about is the Superbowl and Probowl are coming here in Feburuary. The seasonal rents for that month are going to sky rocket so it might be nice to get into the market before that if at all possible.

@JP_Bonner there are many great places to get rental properties or to buy and hold here in Phoenix. I have been doing real estate investing for a few years since I moved here. Interest rates are so low right now it is a great time to buy anything especially if you plan on holding on to it for a rental down the road.

I agree. The best way to possibly get comps in an area is to have knowledgable realtor in that area. There are many different ways people can send you comps that make it look how they want it to look. Having a good realtor at your side will make the process work much smoother. Be careful who you select to help you out with this though as their is a right and wrong way to pull comps.