All Forum Posts by: Chris Risi

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $375,000
Cash invested: $100,000
Sale price: $665,000

Complete remodel on single family home with detached casita in the heart of Phoenix

I currently do 90% of my investing in Phoenix right now, as I was born and raised there and know it extremely well. I own a couple rentals and rehabbing 6 units right now...let me know if I can help as Im a licensed realtor in AZ too!

Thanks for the reply @Matt Haman and @Jon Schwartz. It is currently our primary residence. But eventually we want to use it to put towards a down payment on our next primary residence, then use the condo we are currently in as a rental...does this change things?

Also, how much over the course of the 30 year loan do we save going with a 3.5% loan versus a 3.875% loan?

Hey all, trying to decide between these two options. Anyone have any advice?

• The interest rate for cash out is 3.875% Principal and interest payment $1,833.92 loan amount $390,000 cash out to you approximately $40,300
• The interest rate for rate&term 3.500% Principal and Interest payment $1,585.13 loan amount $353,000 cash to close $700 for appraisal fee, 0 due at closing.
• $40,000 cash out costs $248 a month difference in payment

do you mean 200 individual units? or 200 unit apartment buildings? @roberttolnai

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $495,000
Cash invested: $70,000

Bought this from a wholesaler with my partner who I met on BiggerPockets! Just listed it for sale yesterday on MLS Arizona. Fingers crossed to sell soon!

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

I grew up in this neighborhood, so I know it very well.

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

Wholesaler email blast. Sold as-is, no price negotiating

How did you finance this deal?

Cash for down payment, then hardmoney lender for loan and a chunk of the rehab as well

Hi all,

I bought a property in Phoenix with hard money and after renovation, I'm refinancing right now. It will be used as a short term rental. Does anyone have any advice on which option is best on the loan terms?

$319k – 30 YR FIXED @ 6.5% with ½ point = $2020 P&I ($2204 with taxes and insurance)
Cash Due At Closing = $4744

$319k – 30 YR FIXED @ 6.125% with 1.5% points = $1941 P&I ($2,125 with taxes and insurance)
Cash Due At Closing = $7923

$319k – 30 YR FIXED @ 6.625% with ½ point = $1764 Interest payment ($1948 with taxes and insurance)
Cash Due At Closing = $4749

$319k – 30 YR FIXED @ 6.25% with 1.5% Points = $1664 Interest payment ($1848 with taxes and insurance)
Cash Due At Closing = $7929

Any thoughts/guidance would be appreciated!

Chris

Hey @Brett Tvenge Bought it in Oct 2020 and just sold in March 2021.Yes, I am flipping in Phoenix, always on the lookout! How about you? Whatre you working on currently?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $375,000
Cash invested: $110,000
Sale price: $647,000

Complete remodel on this one

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

My business model has been to fix and flip enough homes to save up money for rentals.

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

Wholesaler tied up this deal and flipped it to me for a fee.

How did you finance this deal?

Hard money and HELOC

Hi, im looking for experienced investors to join me on a new multifamily unit build (12 units) in the heart of Phoenix, AZ. I will help manage the deal and bring the architect and builder to the table if needed.

DM me if interested.