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All Forum Posts by: Michael Leung

Michael Leung has started 2 posts and replied 52 times.

Post: City-owned properties for sale?

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

The City and County owns alot homes with different circumstances. The one I brought from the county was brought as part of a right away expansion that didnt happen. The county sold it thru a auction process that was listed in MLS. The told me thats what they do for all properties that they need to sell. So to answer your question...any property they sell will be to the highest bidder at the auction.

Post: I bought a townhouse out of budget

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

Yeah, you are asking way too much for a room rental. If you need more monthly income, try short term renters on airbnb.  But with Covid, I'm not sure if that market has really returned. 

Post: Outskirts of Phoenix Metro

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

If you thinking Coolidge is the growth area for Tucson then you have a long, long time to wait.  Tucson has alot more available land in Marana, 3 Points, and Vail areas before any one would consider buying in Coolidge.  You might better off looking at Casa Grande...your a little late to the party now, but its a bedroom community for Phoenix and the prices are more affordable then metro Phoenix

Post: Pro Tips for first investment property

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

A 30 yd and 40 yd costs are the same.  If you looking at price, you need to figure not just the drop price but also the amount of tonnage included and the price for each additional ton 

I dont know where your getting your rent numbers.  But a 1/1 in rural SW Tucson is never going to get 1100-1400

Post: Help me analyze this deal!

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

I too think your rental numbers are bit high.  We have been getting around $750 for our 1/1 that are right next to UMC.  When youre approaching $800, youre getting into the pricing of the student high rise buildings.  Yes they rent by the room, but they have better locations and amenities. 

I just finished a remodel of a 7 unit complex in Tucson...and didnt spend anywhere near that per unit.  Contact me for my general contractor...hes a great and I hate that I currently do not have any work for him.

Post: Foreclosure Auction Tucson

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

The auctions are mainly dominated by a couple of buyers....I can also tell you for a fact that everyone of those buyers knows exactly what the inside of thoses houses look like and their condition.

Post: [Calc Review] Help me analyze this deal

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

That area is not considered U of A or Downtown rental market.  Thats a pretty bad area with lots of crime and drug use.

Post: Is my current home a bad deal?

Michael LeungPosted
  • Investor
  • Tucson, AZ
  • Posts 54
  • Votes 27

Are you estimating a monthly rental rate of $1550? 

Your rental income estimate for Tucson is way too high and unrealistic.  A 3 bed 2 bath in Tucson in a good area is typically $1100-$1200 a month.