All Forum Posts by: Denver Chavez

Hello everyone!

I'm in the process of closing on a SFH rental in Tempe Arizona, and am looking for recommendations for a quality PM company in the area. Ideally, a company with a full network of handymen/contractors and are capable and use to overseeing rehab projects. However, the main quality i'm looking for is a good communicator.

Thank you!

Thanks @Denver McClure for reaching out and connecting me to Bryan! @Bryan Waters I will check out your website and shoot you an email later on tonight! Thank you 

Hello!

I'm reaching out to the BP community to see if anyone can recommend a quality PM company serving the Phoenix metro area! any information would be greatly appreciated.

Thank you!

Hey BP community,

I'm looking at purchasing an investment property in the Phoenix AZ area. Based on the prices i'm seeing out there, it looks like the only way anything would cash flow is to find a property with some sort of detached structure to convert into an ADU.

Has anyone had any issues working with the city while trying to convert into an ADU, or is it a pretty straight forward process?

Additionally, are people having success making this strategy cash flow in this market? It looks like I'd have to be in the 300-400k range on a property and then still budget for an ADU conversion to positively cash flow with what rents are at in the area.

Any input helps, thank you!

 Thank you Andrew, 

Yeah that makes a lot of sense. I'm going through the prequal process right now so that should give me some clarity once its completed.

Hi Andrew,

This is my primary home that I’m also house hacking currently 

Hello BP Community,

I recently purchased a single family property with a conventional loan that I'm currently developing (In the planning stage) into a 3-4 unit property. I'm trying to decide if I should fund the renovation up front with my own money, then essentially refinance and BRRRR the property on the back end to pay myself back. The other option I have is to refinance the property now with a renovation loan and basically use the ARV of the property to fund the renovation. This would mean I would be paying off a bigger loan based on the amount of money I borrow for the renovation. Sort of a BRRRR in reverse. If any one has any experience doing either of these and can shed some light on which would be the better long term play, I would really appreciate it. The only difference I can see is that the Reno loan would be a higher interest rate for the time being, but I would think I could refinance in the near future assuming rates come down. The benefit is that I wouldn't have to use my own money for the renovation.

Thank you!

Hi BP community!

Does anyone have any experience house hacking the Santa Barbara area? Such a premium and overpriced area seems like it would be difficult to offset what a mortgage would cost, in this current market. However, I'm curious if anyone has had any success in the surrounding markets like Buellton, Solvang, or Carpinteria.

Any tips or shared experiences would be greatly appreciated. Thanks!

Hi BP community,

So my partner and I are currently renting a single family home for $200 under market rent. Our tenant gets assistance from the MHA. She is a great tenant, pays her half on time every month, and does a good job maintaining the property. Our dilemma is that we are capped on how much we can charge rent because she gets government assistance, so we’re leaving a lot of rent on the table. Is anyone familiar with the MHA and if there are any tax benefits or ways we can creatively offset the loss in rent?

Thanks!

@Martin Carew 

Thanks for commenting on the post. I'm under the impression that with delayed financing, you can only get 75% of your original sale price of the home and not what the ARV or appraisal after the rehab value is.. Is this true for all financial institutions? or do I have bad information?

Thanks