All Forum Posts by: Clayton Jeanette

Welcome to the community you picked a great place to learn and connect. Everyone's extremely helpful and wanting everyone to be successful. I'm living in Tucson too, let me know if you ever want to connect and grab a coffee sometime and talk real estate!

Welcome @Jack Gillette you found the right community to learn about real estate. There are so many opportunities and facets of the industry and everyone in this community is more than happy to help you out. Don't hesitate to post questions or reach out to people the best way to learn is to just start doing. Arizona is a great market you won't be disappointed! 

I would agree with @Patrick Hart I find it hard to believe Boulder would take a major hit. The reason I say that is because there has been little purchasable development within city limits, but there has been and still will be a growing demand for housing with all the new companies and jobs moving in. I could maybe see the high end market taking a hit since the prices are starting to get over valued but from my experiences growing up in Boulder the housing market within the city doesn't get affected too much by outside trends.

@David Sharp Hey my team in Tucson uses DR Construction Services for everything we do. They do a lot of full remodel projects for our investors and they keep coming back. They're great with working with our investors to get them exactly what they are looking for whether its a fix and flip or just a BRRRR. I'll give you the connection if you want to get more info about them.

Welcome to BP  @Ryan Worden! There's too many people out there that never take the steps to get in the game, they just sit on the side line their whole lives, so I'm happy to see you're not one of them. I'm living in Tucson right now and it's a great place to invest especially if your just starting off since it's cheap compared to other parts of the country. You have the right mindset with UofA since they're trying to add as many students as they can and those students will always need a place to live (I just bought a triplex south of campus and couldn't be more thrilled about it). Keep participating in the community you'll learn a lot, and If your looking to expand your network and talk more about the area feel free to connect with me!

@Jon Ankenbauer just chiming in because but the best way to find off-market deals is get into the community. Door knock, get to know realtors and make sure you're actively participating in the community. You can do this by playing in sports leagues, going to fundraisers, neighborhood meetings etc and talk about real estate and see if people are looking to sell. There are a lot of people out their that have property and didn't even know selling was an option or an option that would make them money. I'm not currently active in the Colorado market since I'm living in Tucson, Arizona but my brother and father have their licenses in Boulder and Littleton and we constantly talk about how the market is going. Right now properties have multiple offers over the asking price it's almost a requirement to find off-market properties to make the best returns. Good luck with finding those deals.

Brian - I would agree with Bram that there is no checklist when your an investor. It really comes down to finding good deals and no two deals are the same. Nothing is identical and the fact that your own situation is constantly changing depending on where and what your invested into makes it hard to have a checklist that others would find useful. There are so many types of investment opportunities out there it's really finding out what you will be happy with and works for your current situation. For example my most recent investment was finding a multi-unit to house hack and live in for free. I personally wanted my own one bedroom unit to do short term rentals with after I buy and move into my next property but there are also great opportunities out there with multiple bedrooms in each unit. You also need to figure out what your situation will let you do. If you need cashflow your investment is going to be different than if your looking for a long term hold. 

I'm an agent in Tucson and we get tons of deals that come through our team. We've never had the issue finding profitable deals for our investors that match their current needs, but ever person has their own checklist to fit their needs so there is no general checklist out there. I'm all about helping people out so if you ever have any questions about investing downtown / UofA area feel free to connect with me.

I've been a member of Elevations Credit Union and they've been great I still use them as my main account and I live in Arizona.

Thank you all it sounds like all the guidlines really depend on what the lender is willing to do since its not sold on a secondary market. Now I just need to find a bank wanting to give me a HELOC at the LTV I'm looking for. It looks like I will be making some calls when the banks open monday morning. Thanks for pointing me in the right direction BP.

Hi BP I currently own a triplex in Tucson AZ where I live in one of the units. The other two are currently leased out for the 2017/2018 and I have 25% equity in the property. My question is can I take out a HELOC on the equity I have? I've been told that my property is treated as an investment property because it's a triplex, but it is my primary residence. I've read that with a single family house it's possible to get a HELOC up to 85%LTV. What are the HELOC limits and rules for an investment property and would someone in my situation be able to get a HELOC up to that 85%LTV? Thanks.