All Forum Posts by: Ingryd Hernandez

@Benjamin Cedillos self manage. Use home warranty to cover small and big ticket items and use Zelle to make it easy for tenants to pay rent.

@Marcus B Hsu I had this same predicament recently. Did a cash out for 2 reasons - 1. Rates are so low, this money is very cheap, cheaper than HELOC rates. 2. Since I've heard so many wild predictions about 2021, I would rather not let a bank make a decision of closing my account. In fact, some banks have stopped providing HELOCs so I took that as an indicator.

I have a rental in Tempe. If you are not working with an agent, I'd be happy to assist. Good luck in your decision.

@Mason R. Lease options are always a great exit strategy since you are really the bank in that scenario. You'll want to make sure that the contract clearly gives the lease option buyers full responsibilities of the property, usually sellers will 'warrant' for 30 days. This makes sure they understand they have to manage any major repairs. Additionally, you'll want to time bound the option, minimum 3 years because folks who need this option usually need enough time to get their credit scores up.

With demand being so heavy in Arizona right now, is your motivation just having the down payment from the lease option ? Do you believe you'll only qualify for a new loan if your current home is either under contract or in a lease?

In my experience, you are looking for a very specific buyer but not unreasonable. However, you'll have full responsibility of vetting someone like a tenant versus when you sell when that's really the lender's job to do that. You'll want someone who can help you that is experienced. Happy to help. I've been an agent in AZ since 2013. Both my husband and I are agents.

@Don Gilbreath Hi Don. I found another investment group through Creative Finance with Pace Morby facebook group. I recently went to a meet up (masked of course) and was recently invited to start hiking with some of them on Sundays. Let me know if you are interested.

@Jessica Jay-Maleski gotcha. ARV's can be tricky in luxury market so that makes sense. I can see how RPR would limit those situations.

@Jessica Jay-Maleski are you needing full blown analysis? Honestly, RPR is pretty on point and the 'star' rating will let you know to what degree of confidence; 4 out of 5 or 5 out of 5 have never really failed me so long as the bedroom and bathroom counts are accurate. I let most of my investor clients know I'll run a simple analysis but if they get serious about putting offer in, then I'll dedicate more time. Unless super complicated, most of my full blown comps take 15 minutes.

@Gregory Greene I can be available this afternoon. Just flew in from Hawaii this morning. Sent you a connection request. My info should be there if you'd like to text.

@Gregory Greene I am an agent that lives in Chandler. I also own a rental in Tempe. The demand on properties is very high and inventory is at historical lows. You may find it tough to find what you are looking for as far as inventory goes. I've actually started examining Arkansas and Alabama because you need a strong lead generator and you have to pull trigger to purchase in hours, if not minutes. Seriously.

Happy to show you around once you make it down here.

@Benjamin Cedillos failed to mention I own a rental property in 85284 and it's a solid zip codes for rentals

@Benjamin Cedillos hello! I'm a local realtor and novice investor. I'd be happy to comp for you and use my own knowledge of the Valley of the Sun (I'velived here for 28 years, an agent 7 years), I can let you know if those are reasonable rents.