All Forum Posts by: Kevin Muns

Thanks for the intel on this guys. I will look to get this solidified. Eric, I will keep a good ledger on this, to ensure all is accounted for. 
Some good suggestions. 

I am purchasing 40 ish acres in Maricopa County. It is already divided 3 times. The future goal will to sell off smaller portions of this land. If it is already divided 3 times, should I put each parcel into a different entity? 

Lets say I take 10 and split it into a 5 acre and 4-1.25 acre parcels, and I sell 2 of the 1.25 acre parcels. Would I then be allowed to divide the 5 acres 2 times to keep my total at 5? 

This is a grey area question that not many seem to have expertise in. Any ideas would be much appreciated.  

I am going to lend money to a family member to pay delinquent mortgage payments, and a few bills. He is going to list his home for sale in the next 10-14 days. The money from the sale will be used to pay me back with interest, as well as a portion of the proceeds. However, he has a history of drug use as well as medical issues that could cause him to pass any day. The family member ( property owner) and the beneficiary have agreed to sign any personal forms or contracts. What legal forms do I need to protect myself, to have an added layer of protection? 

Where do I get these forms? Lawyer, title, self create? 

There isn't a ton of juice in this deal, so any cost savings or strategies would be appreciated. 

Thanks for sharing your thoughts on this. 

What are you guys finding as rule of thumb benchmarks for rehab costs in Arizona? 
Is there a trades list you use, or a square footage estimate? 

Looking for all intel. Thanks! 

Depends on several factors. Cash available for continued changes, cost of conversion, and likely hood of securing renters quickly in that area. 

Lots to evaluate before you take a swing at it. 

Sounds like your easiest play is to finish and rent or sell. 
Continuing to convert, at 95% done could take extensive additional time. 

Thanks guys, this is very useful stuff. I look forward to staying connected with this community as I get going in this venture. 

I have been researching and looking, and am finally feeling comfortable enough to pull the trigger on some properties. I have about 200K in wealth to my name. How much would you suggest investing in my first 2 units? What is a good starting point?