All Forum Posts by: Chase Leavitt

Site location is right behind the LA fitness off of Power and McDowell Rd. in Mesa, AZ. Very good location in northeast Mesa. Everything is very preliminary but expected to start selling first quarter of 2018. Individual fourplexes can be purchases in the 700k range or multiple units at a time. Still working on getting additional details but wanted to get feelers out there on who would be interested and would want more information once it comes! 

@Kate Weinberg and @Aaron Smith There are still great deals here in Utah they will most likely be "off market". Kate I have experience with owning several mulit-units but they are here in Utah. Offer a 7%+ cap rate and cash flow $400+ per a unit. It doesn't hurt to look out of state but I wouldn't count Utah out just yet; especially with one of the lowest states in vacancy rates, low unemployment and one of the top states in job growth it's still a very good place to invest. I agree with @Joe Splitrock, definitely look into doing a 1031 exchange. 

Ya, I've always seen that the person that is getting the loan is the one who needs to be the one signing. Here's a thought; can you put it under your name such as, "Carlos Nunez and/or assignee" and then switch it to his name at the end in an addendum? 

Brand new fourplexes located in Rosecrest master planned community that offers a 6.8% cap rate with $1,200 plus in cash flow after "all" expense. Scheduled to start construction first quarter of 2018. Each unit will consist of 3-bed 2.5-bath with an attached 1-car garage.

Located in one of Utah's fastest growing cities, Herriman Utah. Excellent views of Salt Lake Valley, and located next to the new Salt Lake Community College Campus and REAL Salt Lake indoor Soccer facility. Charter school and to be built new Herriman High school are located within walking distance. The Village at The Boulders will consist of 252 doors.

@Doug McVinua Thanks for reaching out! Looks like I'll be doing the crash course. 

I'm looking at getting my Arizona real estate license. Can the schooling be done online? If so, who do you recommend going through? I read on azre.gov that you need 90 hours of "in classroom" Real Estate pre-licensing education at an approved Arizona real estate school and pass the examination. I'm just hoping that the education can be done online instead of in the class room. 

I would recommend getting in touch with @Steve Olson.. He seems to have a good grasp on the multifamily market, especially in that area. 

This thread caught my eye so I wanted to jump in to follow. @Dylan Snyder 

p.s. - I think that's awesome that you moved so your could push yourself and grow, especially at such a young age. Not too many people would be willing to get out of their comfort zone in doing that. I'm sure you will find it profitable!!

@Brad E. correction, $1,500 per a fourplex (4-doors), so at least $375 per a door or more. 

@Scott Mullins If you don't mind me asking what are the terms for your loans? Are you getting the 25% down 30 year conventional with good interest rate? Here in Utah once you start taking on more than 10+ loans the rate and terms aren't quite as favorable. That's why multiunits are so appealing here because they allow you to increase the amount of doors you get under one loan. Also, when buying a fourplex your cost per unit is quite lower but your rent per a unit stays strong. At least with the multiunits I've seen and the ones I go after. Property location and layout will definitley play a factor. 

@Craig Herrman thanks for the shout out.