All Forum Posts by: Bob Nesbit

Thanks All!

I appreciate your input and feedback.

Hello All,

Any recommendations for good Hard Money lenders in the Phoenix / Mesa area?

My hope would be to find a lender who I could do some rehabs with as little of my own money as possible. Seems like all the ads I have looked are looking for me to put my money into the deal. If I have to I will...although I don't really have all that much to put it in.

Anyway, looking to get some figures so I can start looking at deals knowing a head of time what my costs will be for the loans.

Thanks!

Thanks @Larry Hood! I appreciate the advice and will look into that.

@Albert Hasson I appreciate the input as well. Are you using anyparticular formula to determine if a property is worth the effort? What kind of profit do you make on a flip?

Thanks again for any advice or input!

Hello all!

Im new to real estate investing and looking to do rehabs. I have read a few books, and listened to several tapes, DVDs, etc. They all seem to say my purchase price should be 70%ARV minus the repairs. I have had quite a few Wholesalers and Real Estate Agents send me lists but none of the properties even come close to that formula for my purchase price. And the people I have spoken to say this is a "tight" market.

Should I be patient for the right deal? Or am I using the wrong formula in the Phoenix area?

Thanks for any input!

Hi Bob E.! "Two Bob's from QC"? Sounds like a good name for a pizza place :-)

I will definetly PM you as I would love to hear what has worked for you.

Thanks!

Thanks Matt!

And thanks for the advice on key words...I have done that now.

Good luck in your Army career! Its a great experience...and an honor and privilege to serve!

Bob

Hello All!

My name is Bob. I have been a police officer in AZ for over 20 years now and in the Army Reserve/National Guard for 26. I am looking forward to doing real estate investing so I can retire from both those jobs!

My family (Father and Uncle) introduced me to the benefits of real estate investing when I was very young. My father bought quite a few fix and flip properties. The advantage to having a young son was that he put me to work "fixing" dirt cheap (I worked for comic books). Of course he had to hire out real repairs. He also had a few rental proprieties. Unfortunately I never got to learn the art from him....so here I am learning now!

I am interested in rehabbing houses anywhere in the Phoenix Valley area. I would prefer the eats side but will go where ever I get the first deal...truth be told after my first profitable deal I am going to retire from the PD. After making some cash fixing and flipping I will purchase some rental properties to keep a steady cash flow. My goal is to flip 3 or 4 properties a year and have a net rental income of about 3,000 a month.

This website has been great...I hope to use it to its fullest and eventually contribute some of my lessons learned (hopefully they aren't all from the school of hard knocks).

Thanks!

Bob