All Forum Posts by: Lindsey Keller

In the last two months since your post, Ive seen homes increase 50-100k. I was/am looking for a personal home, and am flabbergasted that a 1500 sq foot half updated home is 500-650k! I think we are at the point of overpriced right now. 20+% growth the last year and projected is pretty nuts. 

I am considering buying a Single fam house on a multi fam lot and building a duplex in the back. The front house won't cash flow, but the back sure will. Phoenix has loose zoning so I may do a couple of shipping container houses since building costs are so damn high. 

Consider a house with a guest house or garage that you can convert to a casita. I see casitas renting for 1000k plus!

Most of mine are around 30-50k for work like that. If you do some sweat equity, buy low end finishes, you may be able to do that, but I do that in mine already! 

@Samantha McEntire - Have you looked at the Allwood kits? They literally sell them on amazon! I am considering an ADU at a different property as well. Was not sure how much they help ARV? would love input on that.

https://www.amazon.com/Allwood...

https://www.amazon.com/Allwood...

https://www.amazon.com/EZ-Supp...

I did get a container estimate for a double container unit - was thinking of doing this x2... - See below. Not bad for 30k! Add Ground prep/landscaping/electric/plumbing/crane fee and permits of course.

All Star Storage & Container	Wed, Feb 17, 4:51 PM (2 days ago)

Every home we've done has been a one off so there's not a good standard price. But for comparison, we just did a container home with (2) 40 High Cube containers ($6,995 each), and cut a wall out of each in order to fit them together. We also did an interior build out (framing, insulation, drywall, electric, trim, paint, and epoxy flooring), along with a walk-door, plumbing (toilet and shower installed, and rough plumbing for bathroom and kitchen sink), and 5 windows. We built the containers on site and then delivered them. Delivery and onsite installation of the 2 containers was $3,200. And the total (including containers and installation/delivery) was $30,000. I hope that gives you at least an idea of rough costs.

https://cromfordreport.com/ind...

Check out cromfordreport dot com - They will show you just how low supply is and high demand is. I believe we are the hottest market in the US. The pandemic has been good for us here and we don't see it changing in the next year, likely longer. I invest and have been beat out on several homes with people 10-20k over asking price. 

I have an 10,000 sq foot R3 multi fam lot in the heart of Phoenix.  I have a front house, but room on the backlot to build 2 units.  Either 2 separate or a duplex. 

What is the cheapest way I can do this?  Looking at - Prefab, Modular, Manuf, Shipping containers, stick build, steel buildings

I want a modern look, big windows etc. I will be renting these out and my goal is to get $1500 each. 

Any knowledge, companies that do this etc? (Under 100K total would be awesome as I need to consider the lot landscape and utilities to the units)

I hve looked at even Amazon and considered Allwood prefab houses... not sure if anyone has done that? 

Investment Info:

Single-family residence fix & flip investment in Phoenix.

Purchase price: $325,000
Cash invested: $45,000
Sale price: $414,000

Cosmetic Renovation that ran into Sewer issues and with help of insurance, came out ahead

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

Great neighborhood and simple cosmetic flip.

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

MLS

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Complete cosmetic remodel

What was the outcome?

Sale ended in a profit

Lessons learned? Challenges?

Get a sewer inspection, ALWAYS

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $370,000
Cash invested: $45,000
Sale price: $489,000

Live-in Renovation. We scored this property at a low PPSQFT, did a total renovation to the inside, removing load-bearing walls, redoing the kitchen, floors, trim and 2 baths. We also installed a sprinkler system, grass and did landscaping. Not a lot was done to the exterior, just paint. (The color I hated, but it was too late) Sold quickly!

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

The neighboorhood was very solid, the PPSQFT was low for comps and this home had a lot of upsides. I was originally going to reno and keep but decided I wanted to live elsewhere.

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

I used a realtor, the seller was tough, he did not give way to much price-wise.

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

Total renovation inside and yard.

Lessons learned? Challenges?

Be more conscious of paint colors, I hated the grey tones once they hit the building (too blue!) I also am never living in a flip again. :)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Shawn Robson - Berkshire Hathaway is a great selling agent!