All Forum Posts by: Lisa Goodwin

@nick j.

The house got 25 offers and my offer wasn't even the highest offer. Having been monitoring the mrket for 2 months 24/7 and haven't seen any deals like what others are talking about!

Most properties are getting 20 + offers in this market. I don't think $77/ sq feet after all is said and done is a bad deal. The house was sold for $160K in 08, $140 in 03 and was worth $260k at the peak of the market.

@Albert Hasson the house is in east Surprise. 1400 sq feet 3 bd 2bth. It is within the Luke fly zone, but according to the info/ map i received its not in the red zone. The closest intersection is Greenway and Dysart.

A mode match sold in June for $110k and another model match is on the market for $ 130K.

Is the airport noise an issue in surprise?

Steve Babiak Where should the ARV be to be considered good. or maybe I'm overpaying for the property?

It's $71 per square feet. After all the work is done I'll cost me $77/sq

Obviously it's no $30/sq that was available a year of two a go!

Thanks Kyle J. I should call a few lenders and figure out the whole LLC thing.

The rent comps are 875 -975

I've been making offers on short sale properties for two months now. Yesterday I got an acceptance.

I don't have any real estate trainings, all I know is what I have learned from my father who retired at 45 after doing real estate for 20 years.

I'm buying this property in Suprise AZ for 100K. It needs new carpet, painting and landscape. After all is said and done, I'll be out $107K-$110K and it should be apraised for about $130K.

Here is my plan and please let me know what you think of it.
Finance the house and get my $107K out after I have a tenant in and move on to the next property and continue doing the same.

I have a business that is doing well and I don't need to be making money in real estate at the moment.

I am going to form a real estate LLC and as long as the LLC breaks even I'm happy. So, if the rent covers the mortgage, managment, maintanance, taxes, HOA and etc I'll be happy. My goal is not to invest any of my own money into the LLC, just build equity for future.

When the market recovers, I plan to sell all the properties and get into commercial real estate, maybe an appartemnt complex and if the cash flow is equal or more than my current income I can retire then :)

I'm very excited and scared at the same time.

I look forward to reading your inpusts!

Don Konipol

Ideally I'd want to invest in my local market, but there is absolutely nothing available in my price range.

I'm looking for a SFH 2000 or newer, in Portland metro ... I've been looking! That's what is steering me towards investing in other states.

My goal is to get a 7-10% in cash flow (after taxes, HOA, managemtn, etc) and when the time is right, sell and move the money closer to home.

I can't buy a reasonable SFH in a good neighborhood in Phoenix for 100K. With my budget, I can buy a property in high crime neighborhood in Phoeinx ... will get less than ideal tenants ... etc

If I had 150K, I'd consider Phoenix

I'm new and don't have much knowledge ... trying to use good judgement and common sense :)