All Forum Posts by: Chris Bang

As my grandfather always said, if you have your health you're already a millionaire.  We all know that a healthy (Mediterranean) diet, good sleep 8 hours per day, and daily exercise are pillars to a healthy life, but I'd like to add a couple of other recommendations:

1) BUY A STAND-UP DESK:  I've been using one for 12 years now.  No question they're 100% worth it.  Sitting is terrible for your body and a good stand-up desk isn't that expensive.  Get one, you'll love it!

2) Treadmill for under the stand-up desk:  On a typical day, more so when it's winter/raining, etc., I can easily put in 10K+ steps on the treadmill alone.  Wifi headset, standing desk, treadmill combo.  We think better when we move, and to be able to move while working adds tons of health benefits.  Get one of these as well!  I average 15-20k steps per day with half or more coming from the treadmill in my office.  

Cheers!

Investment Info:

Townhouse buy & hold investment.

Purchase price: $253,000
Cash invested: $100,000

Short-term and completely renovated furnished rental in beautiful McCormick Ranch area of Scottsdale

What made you interested in investing in this type of deal?

Deep knowledge and familiarity with this area and future prospects given the desirable location

How did you find this deal and how did you negotiate it?

Individual needed quick close. Closed the transaction in 4 days.

How did you finance this deal?

Cash.

How did you add value to the deal?

Complete renovation throughout. Tasteful remodel, opened kitchen which doubled the size of kitchen alone, deleted all steps, 9' ceilings, and much more..

What was the outcome?

Property is high-demand for short-term furnished rental in Scottsdale

Lessons learned? Challenges?

As with all projects, budget for 50% more in expected cost and 50% more in expected timelines

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, as a mortgage banker since 1998 in the Phoenix area and in Sacramento, I have a large network of industry connections

Hi Emmanuel, native Texan here and just wanted to reply as I own a mortgage co that handles DSCR and blanket financing options such as what you are describing (11 properties, one loan, etc). This certainly isn't the norm with most banks!