All Forum Posts by: Lucas P.

I live in AZ, own a pool company, and would never ever have a pool for one of my rentals unless it was a vacation rental. Reason being, it’s all about numbers. You may rent your property for $100-$200 more per month, but it’s just not worth the hassle. You will spend well in excess of that on average over 1 year, and definitely over a 10 year period with equipment repairs/replacement or having to remodel your pool interior which will cost approx $10,000 on average. 
But that’s just me. We work with some of the biggest rental management companies in the country, cleaning hundreds of rental pools and the tenants just don’t look after the pools. The stories I could tell you.

Investor or renovator special on a 3/2 Phoenix house. Would also make a great short term AirBnB rental. Close to ASU, Sky Harbor International Airport and public transport.

Priced to move, this home will not last. Home has new AC (2021) but needs full interior remodel after being a rental property for 12+ years. Good bones, lots of potential. This property is not under contract, but is owned by the seller.

Asking $285,000. Online value estimates $350,000 to $370,000. Updated comps are around the $400,000 mark in this zipcode.

Address:
-5442 S 48th St, Phoenix, AZ 85040

For more info call 480-613-5550 or send a message to me here on biggerpockets.com.

I’m sorry, I don’t see where I put that it cashflows 1k per month. That’s the current rental income.

$155,000 at a 5% interest rate equates to a monthly interest of $650. However you’d likely be looking at a lower interest rate and a lower mortgage amount considering every lender would need about 20% down. So $124,000 at 5% you’re looking at $520 p/m.

Take away other monthly expenses, you’re still positively geared. And it depends on your view of “turnkey”. It doesn’t need a remodel if it’s to stay as a rental. If you’re looking to flip it, you are buying below current market value to achieve top dollar with some minor work.

This home has a tenant in place and but has a short lease left. It’s cashflowing nicely with good rent, and tenant has been same for several years and would like to stay on. Yearly rent increases over past few years have almost brought property up to market rate, but still room to move.

Home is in need of an update throughout to achieve top flip dollar potential but has no major needs right now as a rental.

Placed below appraised and online valuations. Contact me for any more info.

Cash flowing rental property in a hot neighborhood. 2 weeks vacancy in the past 7 years makes this a very desirable buy and hold for your portfolio. Property needs nothing and tenant would like to stay on, but is currently month to month and below market value.

Priced below appraised and online values for a quick sale. 

Contact me for further details.

Remodel this project and achieve $800k+ sales price based on recent non-remodeled sales in subdivision.

Priced well below current appraised and online value. Adding any sqft in the neighborhood achieves a minimum $25,000 per 100 sqft. Home has an easy 300 sqft to add to maximize profit. $60,000 remodel would go a long way to achieving potential.

Photos and further information can be provided as per your request. Would entertain joint venture with qualified individuals.

Is that rental income accurate? Does it currently have tenants in place paying that?

That’s good advice from Simmy. The only way to be free to leverage these smaller deals or deals that require a bit of creativity but don’t meet lenders requirements, is to get your business creditworthiness built up and apply for real estate lines of credit. Also, do it when you don’t need it so when you want to you can pull the trigger on a deal and not have it effect your personal credit. I’m glad I started with a reputable company years ago and not one of the many scams out there.

The whole, get a secured credit card and link it to your ITIN and it will build credit is a lie. I know. I found that out the hard way. Many others have also.

I’ll look up the lender info when I’m back in the office and send it to you. I don’t want to be accused of advertising on the forum.

UPDATE: Please no more enquiries on this deal. A JV partner has been found.

However, fell free to contact me on future JV opportunities.