All Forum Posts by: Daniel Pitner

Thank you, Greg! This is helpful. 

My concern is that a judge will force a sale of all the properties if we don't come to an agreement. 

By keeping a property I lose equity because it will be valued at gross equity where as her value will come out as net equity after seller expenses (at least that is my understanding) 

I'm going through a brutal divorce. 

Besides the heart break, there is a lot of stress associated with what to do with our properties. 

Right now my spouse wants to sell everything and split the equity. After realtor fees and capital gains we are looking at about each getting $280k. 

However, I would like to keep property.

My proposal was we each get 2 properties and have full autonomy on what to do with them. This way I avoid losing money on realtor fees in a forced sale AND I can assume some of our low interest rate loans (confirmed by my bank)

Which of the following would you do? 
1) cash out and split

2) Keep the property with lower equity and a 4% interest rate. Cashflows about $500 per month. If I do this I would get about $180k in cash. 

My other question is how would you invest the cashout? I know it's not a ton of money but I need to start rebuilding. 

I love it. This is such a robust strategy. Its the easiest way to build real estate wealth in my opinion 

I just had some clients close on a new house hack for $0 down. The numbers on this are pretty incredible so I wanted to share:

purchase price: 539k

Down payment: $0

Closing costs: $12k 

Seller credit: $6k

Interest rate:4.8%!

Total out of pocket: 6k! 

They closed on a nextgen house with an attached casita and the anticipated rent is 2k /month. 

This could be a game changer for first time home owners who want to househack!

@Kenneth Ye I’m an investor here in Glendale and work with multiple handymen on my team. Shoot me a dm and I’ll send you their info

I’m hoping somebody can help me solve this financing puzzle. Here’s the situation:

1) we currently own two profitable airbnbs 
2)live in a primary residence we want to turn into an Airbnb but this property does not produce income

3) have a piece of land we want to build on

we need a lender who can qualify us for a construction loan based on the projected Airbnb income of our primary residence. In my mind this should be easy for an underwriter because our other Airbnb property is 9 houses down and the same model house. 

is it possible to find a lender who will qualify us based on our current house being turned into an Airbnb? We cannot qualify without this projected income so we’d have to sell the home to qualify. 

We received our education through Arizona School of Real Estate.  They were excellent! 

Hey guys! My wife and I are struggling with what our next move should be. Our current situation :

1) 1 STR

2) 1 primary residence (would make a great STR)

3) 1 prime lot to build a house hack

4) 40,000 cash for next investment

option 1: buy another primary residence and rent our current home. We’ve been looking but the market here in Phoenix is just insane

Option 2: buy a cabin to use as a STR In the mountains. Same problem as above—we keep getting outbid

Option 3: build a new build house hack. Con to this is our housing expenses go up, even with the house hack

Option 4: something else? We are ok with leveraging.

Any other brainstorming ideas you have would be appreciated!

Welcome to Phoenix! David is right. The inventory here is non-existent. However, If you can find an off-market property you are almost guaranteed to make money with how fast the market is moving. I read a report the other day that most homes in the area have appreciated at least 13% since NOVEMBER. Of course, this isn't sustainable so proceed with caution. Good luck! Let me know if you have any questions. 

@David AveryThank you! I'm having a tough time finding a contractor in that range. Most of my quotes are coming in at around $165-$190/sqft