All Forum Posts by: Mike Zaven

Looking for a broker to help identify and secure foreclosed multi family or single family homes in Phoenix and Tucson market areas. Thanks.

@Donovan Warren hey bud. Did you ever get into syndication?

Has anyone bought property from a tax sale deed Sutiono through a county? Love to chat.

Anyone know of meetups in the San Fernando Valley,CA for RE investors?

Hello all. Question to all. I am working on my first flip deal. I have a property i have located in probate. Terms below.

Purchase price: $150K

Rehab cost: $100-$125K

ARV: $425K-$450K

My Skin in the Game: $30K

Partner: $270K

Profit split:50/50

I am working with a private investor and structuring it as a equity partnership. His main concern is time to sell the property once we are done with the rehab. I am thinking of structuring the exit as follows if the property doesn't sell.

Cash out Refi if property doesn't sell in 90 days after listing

Value at $425K (regardless if appraisal comes above that amount)

Take on a loan for $332,500 (Partner's $270K + 62,500 split)

I would then hold the property and rent it out at $2,400 per month.

My cash in would still be $30,000 (plus any equity i keep from refi)

I guess my question is: Does this sound like a good deal and is it a fair exit for the partner. 

Thanks everyone!

@Naftali Tolibas Thanks for the info. Are you saying look above 22nd street? I would love something near UA but i agree the prices are up there to make some profit. I may be coming out to Tucson in a few weeks. Maybe we can connect out there. 

Hello All,

I am looking for foreclosure properties in the Tucson, AZ market area. Price max is $300,000 but must have upside on flip or immediate Cash Flow. 

Looking in areas close to Whole Foods Market. 

@Darron Washington looking in Tucson or Phoenix. Have yet to identify the micro markets of interest. Looking for some direction there possibly.

Hello All Looking to get into my first flip or purchase for cash flow in Tucson Az. Any advice is always appreciated. Would love to connect with PMs and Investors our there. Any direction would be appreciated and reciprocated.

Hello everyone. Question. Have the hard money eh lenders on BPs website been vetted out or are they paying to advertise?