All Forum Posts by: Jared Smith

@Todd Foster I just sent it to you directly. 3% down is the luxury loan product he offers for his highest end clients +740 Credit Scores. This would be for a primary residence and does not have to be a first time homeowner. 

Interest rates are low now, but the Fed will be increasing rates in the intermediate future. If there is a deal to be had, now is the time to leverage your money with attractive interest rates.  You can go up to 10 properties before you need to go to a portfolio lender.  My advice is to build the relationship now if you have not done so already.

Hope this helps!

@Scott Anderson let me rephrase on the disproportionate dollar amount of damages as it relates to forest fires... 

CA Wildfires caused $12.4 BILL in insured losses in the last year alone per Mercury News. Most forest fires in AZ do not cause that type of damage to homeowners. 

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan and a designer palette throughout. Private courtyard has a pavered patio and Community amenities are close by!

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan and a designer palette throughout. Private courtyard has a pavered patio and Community amenities are close by!
FACTS
Lot: 2,278 sqft
Single Family
Built in 2005
Elementary school: Brinton Elementary
Middle school: Smith Junior High School
High school: Skyline High School
School district: Mesa Unified District (004)

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan and a designer palette throughout. Private courtyard has a pavered patio and Community amenities are close by!
FACTS
Lot: 2,278 sqft
Single Family
Built in 2005
Elementary school: Brinton Elementary
Middle school: Smith Junior High School
High school: Skyline High School
School district: Mesa Unified District (004)

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan and a designer palette throughout. Private courtyard has a pavered patio and Community amenities are close by!

FACTS
Lot: 2,278 sqft
Single Family
Built in 2005
Elementary school: Brinton Elementary
Middle school: Smith Junior High School
High school: Skyline High School
School district: Mesa Unified District (004)

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan with picture windows and a designer palette throughout. Upgraded kitchen features custom cabinets, granite counters, pantry, and a full bath downstairs. Master had a walk in closet. Private courtyard has a pavered patio and low care landscape. Community amenities are close by!

FACTS
Lot: 2,278 sqft
Single Family
Built in 2005
Elementary school: Brinton Elementary
Middle school: Smith Junior High School
High school: Skyline High School
School district: Mesa Unified District (004)
FEATURES
Ceiling Fan
Flooring: Carpet, Tile
Parking: Attached Garage, 2 spaces
Patio
Vaulted Ceiling

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $203,000
Cash invested: $46,000

This is the ONE! Charming 3 bed 3 bath home in a great Mesa location resort community! Easy access to dining, shopping, and US 60! Well maintained interior offers an open floor plan with picture windows and a designer palette throughout. Upgraded kitchen features custom cabinets, granite counters, pantry, and a full bath downstairs. Master and other bed upstairs. Master had a walk in closet. Private courtyard has a pavered patio and low care landscape. Community amenities are close by!

FACTS
Lot: 2,278 sqft
Single Family
Built in 2005
Elementary school: Brinton Elementary
Middle school: Smith Junior High School
High school: Skyline High School
School district: Mesa Unified District (004)

FEATURES
Ceiling Fan
Flooring: Carpet, Tile
Parking: Attached Garage, 2 spaces
Patio
Vaulted Ceiling

What made you interested in investing in this type of deal?

Great neighborhood, Entry Level Pricing at an outstanding price, Cash Flow, Future Appreciation and LOCATION!

How did you find this deal and how did you negotiate it?

Another home in the neighborhood I was living in and when I run daily I saw the for sale sign before it hit the MLS. I called the LA and I was the first person to see it. The owner was actually from OHIO as well and left while cooking a stew for me to see the property. I offered list and got the property!

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Minor cosmetic upgrades and water softener system.

What was the outcome?

A cash flow positive turn key property that has increased +30k in value and I recently refinanced and took money out for a huge renovation in Cleveland, OH that I am doing long distance.

Lessons learned? Challenges?

Negotiate for the seller to pay for a home warranty for the year. This will cover a broken ice maker, washer machine break down, AC Unit blower and motor breaking etc. Also you have to go for it! Trust your gut and stay in your market that you specialize in.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

JAREDKSMITH on Facebook/Twitter/Snapchat/Instagram/LinkedIn which is ME!

@Account Closed The market has consistently grown the last 5 years YOY for increases in both Sales Prices and Rent Prices. I meet with several Economists monthly who all predict the growth for AZ in the Greater Phoenix Area including the Southeast Valley for the next 5 years conservatively speaking. With lower barriers to entry and future expansion with business, AZ will be a prime market for RE Investors. Intel announced 7 BILL investment in AZ and Google is building a 1 BILL data center in Mesa, AZ. Costs are still higher than 2 years ago, but on average homes usually double in value 20-30 years later. I am a strong believer in buy and hold income properties. 

Also it is important to note that AZ does not have any natural disasters such as earthquakes, mudslides of forest fires. AZ is pro business and a third of the taxes compared to CA. 

Conforming loans are up to $484,350 and anything over that amount is a Jumbo Loan. My lender offers 3% down which is even better than FHA at 3.5%. Jumbo loans are at 4% or under now depending on credit with only 10% down and no PMI.

Please let me know if you have any questions on Arizona Real Estate!

The Arizona economy continues its long winning streak. Employment is expanding, population growth is solid, and wages are rising. Further, Arizona continues to far outpace national growth rates.

The outlook for 2019 remains solid for the state and nation. The current national expansion is very much on track to be the longest on record.

Arizona added 78,800 jobs in 2018, which translated into 2.8% growth, according to the latest revised data from the U.S. Bureau of Labor Statistics. As Exhibit 1 shows, that was up from 2.5% in 2017. Employment gains also accelerated in the Phoenix Metropolitan Statistical Area (MSA), rising from 3.0% in 2017 to 3.3% in 2018. In contrast, job growth decelerated in the Tucson MSA, from 1.3% in 2017 to 1.2% last year. Nationally, job growth was 1.6% in 2017 and 1.7% in 2018.

It is a great time to invest in Arizona!

-Jared