All Forum Posts by: Colby Fryar

Hi @Shawn Kane- I use Real Property Rincon for my properties here.  I have partners that also use them for small multifamily and they do a great job for both of us.

Colby

This meetup will focus on multifamily but also value-add investing including BRRRR investing strategies and fix-n-flip for investors in the Vail, Rita Ranch and Sahuarita areas but is also close enough to Tucson for investors there. Over time, the plan is to have real estate professionals and experienced investors speak at the meetups but also to have time for networking and group discussions. This particular event on the 5th will be casual and mainly for networking and developing relationships. Also, for those that love beer, Serial Grillers has to have the best beer selection in all of Tucson!

Update on the Value-Add Real Estate Investing Meetup-Vail.  Hot Rods on Houghton/I-10 is willing to host the event in the upstairs bar/seating area on Wednesday evenings, but it is $200 for less than 20 people, and that is food and drinks included.  If less than 20 people, I am willing to cover some of this cost.  I'm thinking of taking donations, to cover the cost. Would really appreciate any thoughts on the location.  Let me know if this is something people will be interested in.

@Samantha Hernandez Thanks for the interest-will definitely let everyone know.  I'm shooting for April right now depending on the site for the meetup.

I think off-market can still be promising.  My partner and I are currently looking at an 8 unit deal, which was actually brought to us by our awesome agent.  I would be glad to PM you his information if anyone is interested.  There are deals out there-  you just have to look where other people aren't.

@Travis Moe, @Ali Garced  My partner and I have had very good success with Real Property Management Rincon-Chet Judd.  I would highly recommend them to anyone in single family and small multifamily.

I survived closing last week-  actually had a 2 separate closings but one was a refi on another property - I digress.  Closing with the hard money lender took a little longer than expected due to a number of factors- among them the holidays and a way low appraisal.  I was, however, able to successfully contest it.  We actually had 3 comps in the immediate area that were about $25K-$30K higher for the same size of sfr with similar features- post renovation.  We found out the appraiser was using pre-rehab numbers, which is interesting because those properties tended to be distressed sales like mine or quick cash offers. 

It was definitely worth it. I only had to come out of pocket with only 10% down and that is for the purchase price and rehab. I'm not sure this is a sustainable approach going forward, however. Distressed sellers likely prefer quick cash closing which this was not. In any event, it is starting out to be a successful BRRRR. I will follow up with the rehab next and tell you about the smelly surprise my contractor found when he visited the house.

@Antoine 

@Antoine V.Absolutely,  let me know when you're in town and we can try and match up a meetup date.  

@Gerald Thitchener Perfect!  It's great to hear that there you are finding BRRRs in this area. This is exactly the kind of content I would like to discuss at the meetup.  For everyone interested, I have been in contact with a few venues- definitely leaning toward somewhere in Rita Ranch.  The Tech Park did seem interested.  I will find out more this week about that and am shooting to have the first one in April.  Thank you for the great comments.

HI Nyame-  awesome!  I will let you know as soon as I get something set up.