All Forum Posts by: Phillip Gonzales

@Anthony Gayden I want a 4 plex first before anything, but from another comment it makes most sense and especially already being in the industry I don"t get over excited for a home. 

@P.J. Bremner That is what I was telling my wife lol we live in a place where it would for my taste not smart to leave. We have about 4 years before our oldest goes to school and i feel with keeping our monthly bills down. It gives us the chance to go after investing! Thanks for insight brother and best of luck!

We are doing a similar project on a 2/2 condo our budget was 10k, but we are looking around 8500 now. The complex doesn't allow FHA financing so our buyer pool will be more Conv. VA or Cash and hopefully won't need much in closing costs help. I think numbers look solid. However our resale will be around 95k still a nice profit

Good afternoon everyone and cheers from Phoenix, AZ! So over the last 6 months or so I have been debating on buying first home for family of continuing our rental and buy our first investment. A little backgroundI am FT Realtor and have been in the market since 2015. I've blessed enough to have sold 48 deals in my first 2 years and has given me a 6 fig income in 2016 and already in 2017. I have the chance to buy now come January, but torn between using the first buy as one for my family or using money toward flipping. I don't have the option to buy a 2/3/4 plex and live in one. Wife doesn't want that and I don't want that. So would you guys who did it over again for your first flip or buy a prime home first and the start flipping.

Current rent $950 a month and we live in uptown PHX which is a very desirable area with homes in mid 500s +. 

Mortgage est would be around $1500 and then I fig after buying. I would then start flipping. 

Any insight would be appreciated. 

Looking to get this property sold before May 19th. Home is located in the quickly growing central phoenix corridor. 

 Seller would prefer off market deal. Please let me know if you have any questions. 

yes that is it @James Bynum he wants a quick close and no inspections. There is nothing he has stated that would make think there is anything wrong with the home. Hoa fees are $200 a month. 

Don't be too hard on yourself man! That is a great learning experience plus this put 19k into your pockets that you didn't have before! 

Sorry man, but I would not treat her as a tenant however it's one thing for her to live with you another if you are taking care of her like a "wife"

I would say we are headed that way. The market is pretty thin here in the phoenix market. Sellers are really in the mindset that this is an appreciating market, but IMO its an inflation market. Not enough inventory for buyers so people are over paying on what's there. 

Hello all I am currently in discussions of listing a townhome in Phoenix for a current client. He wants to sell it to investor preferably and not deal with an traditional sale. The issues I am having is trying to sell the home to investor where numbers makes sense. I have done the calculations and want maybe a second look from someone else. He wants to sell it for $125,000 Similar are selling between 123k-129k and rentals are average $1050-$1125not sure how I should proceed with getting this in front of an investor. Any help would be great thanks