All Forum Posts by: Justin Owens

@Denny Robert Yup, I have driven by those 4 plexes near old town Gilbert. Would definitely take a partner to swallow one of those. Old town Chandler has some options from time to time but they go quick and some streets are more fixed up than others. Cap Core had a 4 plex in Phoenix for $125k but it's 1/1 units and probably 400 or 450 per month in rent. IDK what to do.

I've been looking at small mfr for months now. Tempe is very pricey, everything in Mesa AJ or PHX is class C or D higher crime areas. Haven't had to stomach those areas for purchase but with 25 or 30% down its all I can afford . Stumped, and have been in paralysis mode for months.

Show them comparaples hopefully a bit higher than what the new rent would be offering the same or fewer amenities

Hey Kyle. I am at Call  Realty.  The only fee is the quarterly Errors and Omission insurance of like $65. Transaction fees are between $400 and $600 depending on the price of the property. It's low key and they have software to help you track all the paperwork .

Works for me

@Paul Santos I am looking at the website, it seems you can buy individual properties or buy REIT style funds?

I like the website much better than other turnkey offerings I have seen. Thanks!

@Benjamin Riehle I have a bit. I have access to MLS here but not in Tucson. I have searched via Zillow in the area. Have seen a few 2-4 plex units down there. I have been there several times but never looked at real estate. Where to you suggest looking?

How about making it possible to tag other users with the android app?

I have been looking for my next purchase for months mostly for 2-4 unit properties and some SFR but it seems I have to choose between C/D neighborhoods at $70k per unit, or B neighborhoods at $125k per unit. I have looked mostly in Phoenix and the east valley. Finding a SFR under $200k generally means it needs tons of work or in a terrible neighborhood, or both. The valley has terrible cash flow and good appreciation in general but when it gets to where we are now, how much more can it appreciate given local incomes?

On the latest podcast about the guy who had $10k and grew to 52 units in 3 years - wow that just wouldn't be possible here. 

I have about $50k in savings and a HELOC with about $180k available. With these constraints I have been looking in South Phoenix and Mesa mostly. The Globe/Miami has much lower price points but seems like a dead market. Casa Grande is also cheaper and the strongest in the area (Maricopa, Coolige, Eloy, Florence, etc.) BRRR seems impossible to do finding properties at 70-80% at of market value. I have been tempted to buy out of state but don't have any boots on the ground and not sure I could vet a turnkey operator enough to feel comfortable.

Where to make my play?

I generally recommend someone ask at their local bank they have accounts with as they may have a good program with lower origination costs AND talk to a broker or two who can shop all available loans. Shop around and choose what works . 

Welcome Dalton. This is the right place. 

I'll shoot you a PM with the details but it's a great set up for me