All Forum Posts by: Daniel Pitner

@Eric van Dalen Yes it does 

@Bob Okenwa My wife and I love it! We are looking in the same area, or a little bit more north. Anywhere in North Peoria or Arrowhead is ideal! 

My wife and I are both 24 and we are looking to turn our current home into a rental property . Our goal is to purchase a new home with FHA financing , putting 5% down and living in it for a year with the purpose of also turning that house into a rental property. Because we have no time frame that we are constrained to, I am content waiting on a good deal. I'm looking for advise on what kind of deal I should be looking for and how to put myself in a position to find it. I have considered looking for a short-sale, however it seems like a lot of people advise against this. Any input would be appreciated!

@Bob Okenwa Thank you for your reply! We did experiment with STR on this property before we were married and moved in and it seemed to work well as we were averaging around $1300/month. Looking back I believe we could have/should have adjusted our rates to optimize our payouts. We are near the P83 district (about half a mile) so a lot of the revenue was coming from baseball tournaments and sporting events; come spring training time I think our rates could go up quite a bit.

My wife and I are both 24 years old and we own a small home in the Phoenix market. Our plan is to purchase a new home and keep the home we are currently living in and turn it into a rental property but I am a little unsure if the numbers will work. I’m looking for advice on what you guys would do. Here are some of the details of our current home :

-Home Value: $186k

-monthly mortgage after escrow and PMI: $960

-homes rent for around $1300 in our area

What strategies would you employee? Long term or short term rentals? Is there not enough cash flow to make this profitable? I look forward to hearing all of your feedback!

I'm curious if anybody has any advice on wholesaling mobile homes? Are these harder deals to find buyers for? 

I currently have my first home under contract in Phoenix, AZ. there are no repairs needed on it and it is move-in ready. The market value is around 200 K and I have it under contract for 180k. I know that this isn't 70% of the ARV. Have I made a mistake? Now how do I find cash buyers?

HI @Kelly Conley, mostly maricopa county it's I'm open Yavapai

@Caleb Heimsoth, what would you suggest?

I have a $1500 budget to start marketing for wholesale leads. If you were in my shoes, how would you spend the money?