All Forum Posts by: Kao Saeteurn

After searching the MLS for months, researching where to find deals, and attending a foreclosure auction, I've decided to go to a foreclosure auction in Tucson and actually bid on a property. I know I have to do my due diligence and do a preliminary title search to ensure there are no secondary, tax, or any other liens on the property. I won't be able to see the condition of the house so I will budget for floors, paint, appliances, roof and A/C depending on the age of the house. I know not to get emotional and bid higher than my predetermined number.

I plan to BRRRR the house and hopefully attend another auction after and continue this process. There are a bunch of people there with bigger pockets than myself so it will be tough to get a property. After I do get the property, if it's occupied, I know I will have to start the eviction process to get the old owners out or pay cash for keys.

In your auction experience, are there any recommendations for me or is there anything that I have missed? Thank you.

@Ryan Ray hey Ryan I’d be interested. I can’t seem to find it on the market place.

@Tylor Billings Yea I have not been able to find anything that’s priced low enough that need work out in Rita Ranch. I’m thinking about going to auctions to maybe get one at 70 percent market value. Do you recommend any neighborhoods in the west? I’ve looked all over town. The ones that need work are not in the best neighborhoods.

@Tylor Billings great post! I have been looking for a property near U of A to BRRRR and have no luck. I did not know any of this and will reconsider where I buy near the university. Luckily I have been looking in Rita Ranch area because of Amazon and the new road expansions in that area.

@Alexandra Garced not sure about a commercial broker but have you checked Keller William Southern Arizona? My realtor is Juan De La Ossa and I like his team. Also when you find deals, I would be interested if you pass on them!

@Kiet Tuan Dao this is just a marketing show. Google how it actually works. You buy a weekend class to learn minimal things that you can learn on this site. During the weekend class, they try to sell you a mentoring program for 10,000 plus. Good luck if you go.

@Blake King I rent to a friend and there has been no issues. Extremely responsible, he hasn’t had any issues we needed to fix, and as long as I’m a responsible landlord, this won’t cost us a friendship.

However, I was a irresponsible young adult renting from friends 10 plus years ago. Paid late a few times, but never broke anything in the house, or cause any trouble for them. I am still friends with those people because I respected them and understood that it is their house and they always got their rent. These “friends” sound like they’re just ****** people.

@George Walker IV as everyone mentioned, it’ll be just as tough to invest because we are always gone. It can be just as tough to invest at the location you are stationed as it is investing long distance. I’ve been TDY a lot this year and I feel like it’s investing long distance. The main thing is it’ll be easy to set up your team since the team is in the area you are stationed and you have a good idea of how things work. While I’m TDY, I’m constantly checking out properties online and if one peaks my interest, I try to set up appointments with my realtor to check out with my wife. My wife and I DIY most of the minor repairs of our first property and due to TDY timing, I didn’t have much time to do it. However, this is an easy mitigation by hiring people. I’m also a newbie, but these are the current challenges I have. Good luck!

@Dale Abella

I just bought my first property in April and rented it to my buddy in May. I saw everywhere on here and elsewhere to not rent to a friend. I did it anyways to get my feet wet as a property manager. We drew up a lease from websites such as law depot and our state provided lease. He signed and understood its business. We’re both military and he plans on leaving at the end of the lease so I knew it would be short term. So far I’ve had no issues. I knew he would be responsible with payments so I wasn’t worried about not getting paid. We actually hang out and may blur the line, but no issues so far. I think it would not be a bad idea if you actually had friends that pay on time, are responsible, clean, and respect each other.

@G. Hays

Welcome! I’m also in the military stationed in Tucson. Bought my first buy and hold in April and looking to move on to the next deal! Hope you enjoy the rest of your time in the military and enjoy retirement as a civilian!