All Forum Posts by: John Bradley

Come one and come all! 

Regardless of your current investor skill level we're hosting a free networking event (with snacks and appetizers provided). Learn to find the deals, fix them up and then flip them for your desired profit margin. Guest speakers Rob Russman & John Galvan @ eXp Realty & owners of iNVEST Real Estate will be sharing all their tips & tricks that are guaranteed to better your business and scale your operation whether you're a seasoned investor looking for high level tips to adopt to your business or just looking into how to find your first deal. Rob and John have been in the Fix & Flip business since 2016 and at one point in time they were running 8-10 flips at a time. We're excited to see what will have the biggest impact on you and to meet you all!

Meeting Agenda-

5 min
•Introductions - who we are and what we do?

15 min
•Ice Breaker - Name, What do you do?, Whats your music jam right now?

15 minutes
•Wins
•Challenges

1 hour
•Presentation & Deep Dive

15 min
•Haves/Wants - What do you want to assist your business? What do you have that could help someone elses business?

What rate is your first position mortgage at currently? Do you have any current opportunities for 1031'ing the property up? 

Now days I've heard a lot of investors are seeing low occupancy rates with the state of the economy, my strategy is traveling nurses since they're mid term renters usually 2-3 months at a time that pay a premium for the furnishings and their work is paying them a stipend for their housing so they're more flexible on price.

That strategy is working great for me in phoenix and prescott markets. Check out furnishedfinder.com to run comps. You can rent per room or house. Anywhere next to hospitals would be a great market for this strategy. My partner has a 400 sq ft casita in downtown phoenix off of 7th st and is grossing $1750 a month.

I like this strategy since it's not airbnb/high turn over, it does have slightly less profits but it's held steady occupancy and cash flow for us as well as good tenants since they're there for work, not to party. 

Let me know your thoughts!

As a lender I'm curious why an FHA would need 5% instead of the normal 3.5% down, was the loan not going to be approved if you only put down 3.5%?

The price point is fairly limiting although you can use rents from other units to offset your mortgage (of course there has to be 1 vacancy for you to move into it as your primary residence) which would increase your purchase power and allow you to get a higher price point. The unfortunate part of the phx market right now is that anything 350k or less we're having to show our buyers sub markets like florence, coolidge, casa grande, etc since 250k multifamilies have all been bought up already. 

Another option could be a single family property with a casita (in-law suite) to create rental income but it'll be appraised and valued based on resale comps like a house rather than cap rate like multifamilies are assessed as.

Let me know if there's questions about the market or your approval that I can help you with! :)

I went to a meetup of yours precovid and loved it! Bummed I missed this one, will you be having another one scheduled next month? 

Welcome! 
Network, ask questions, make friends and expand your knowledge through this site as much as you can! After listening to the podcast for 3 years back in 2019 I finally had the funds and confidence to start investing, Biggerpockets is the best resource you could imagine and enjoy the education along the way! :)

Besides the BP community there's Investorlift.com which is a great alternative option as well! :)

Hey Ali! 

Phoenix market is very tough right now, lots of CA money and out of state investors bought up in 2019 and are riding the wave of appreciation and cash flow which makes new inventory very unappealing with low ROI and cash flow if you're buying on the retail market (MLS, zillow, etc)

Have you looked in Casa Grande? Lots of new jobs and population increase over there, Maricopa city, Coolidge, florence, etc. 

As a mortgage broker and investor myself I'm more than happy to answer any questions or help on lending questions! 

 Chad Ellis is the owner of AZ Choice Home inspections and does amazing prompt work! 480-304-0114 is his cell, tell him John Bradley gave you his info and he'll make sure you're taken care of. I meet with him weekly to discuss our mutual clients processes to ensure the best experience :)

203b FHA loan is your run of the mill regular 3.5% down FHA loan. 203k is where they also fund your renovation costs on the property while following all of the GC and scope of work guidelines that Ray mentioned above. :) Hope that helps!