All Forum Posts by: John Bradley

@Jonah Torres

That's the game plan with more capital down the road! Unique market to capture but once the girlfriend and I live together she's not going to want a ton of roommates haha

Even better we're specifically marketing to flight instructors who are at the Mesa flight schools since they're paying $750 for a dorm style room. This way they can have a whole house, garage and pool available for the same cost

It's a 2255 sq ft house we bought as a 3x2.5 which conveniently had 2 offices on the bottom level so we're building a bathroom to make sure every room has a full bath accessible and make it into a 4x3.5

rent out each room for 750 each and the mortgage is only 1100! 😊

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $266,000
Cash invested: $30,000

House hacking my primary residence by renting out each room to cover my mortgage plus some!

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

Prime location in 'The Islands' in Gilbert AZ. Recently voted safest city in the nation and property values are skyrocketing! The economy in this area is known for above listing prices and escalation clause galore!

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

MLS. This property was the worst on the block. On the market for over 60 days which needed a full renovation. Used the inspection to outline the scope of work needed for the out of state sellers and using the sellers disclosure to make them acknowledge the repairs needed so that they couldnt play dumb about the condition of the house.

How did you finance this deal?

Conventional first time buyer home loan 3% down.

How did you add value to the deal?

Full renovation. Interior/exterior update.

Just curious, how did the deal pan out in the end?

Have you checked out rentometer.com in your area and seen the differences on rent vs the cost of adding the 2nd bathroom on? I'm looking to find a good cash on cash deal in the Phoenix market to do that personally. Anyone have prior experience with this kind of value add?

Having the seller finance (seller carryback) the note for you will more than likely be the best financing option on them especially when you buy a poorly managed one, you can offer them a lesser interest rate than bank financing would provide. 

Hi guys! I'm working a preforeclosure deal right now and was curious about what your individual processes looked like when you were working with the lender? I can catch up the past due payments and buy the house for what the loan is left for with investors or hard money but the time frame is less than 2 weeks. Any recommendations for working with the lender and buying within 2 weeks before the auction date gets here? 

Thanks in advance for any help!

@Will Peters your website looks amazing and congrats on that! What metrics did you end with on your mailers in that case?

How have your response rates been with that so far @Will Peters? Sounds like you're still at it after a few years which is fantastic! Hoping to hear about some metrics so far and any hiccups that you've ran into so far? 

Thanks!