All Forum Posts by: Ryan Cooley

I need some guidance! 

I am buying 3 duplexes in Sierra Vista, Arizona, which is just south of Tucson. Each unit is a 3/1. 

I am buying with hard money @ 15% down, 13.5% interest rate at a $295k purchase price. 

After 30 days (when leases are up), I will give tenants the option to stay in the unit and pay $700 (currently each paying $550), or vacate. If they vacate, I will spend 10-20 days putting in vinyl floors & paint, then fill the units for $725/mo. 

My hope is that each duplex will then appraise for $130k+. At which point I can refinance @ 75% to pull out my initial investment. 

To ensure I get the highest appraisal, would you vacate all the units and rehab them, or just raise the rents and the tenants will stay? 

I found a great deal for cash. Instead of wholesaling the property, what is the process of using a sellers note to then become debt-free on the property and maintain cash flow? 

@Daniel Smithson Thank you! Who will finance the mobile homes for you? 

Trying to get a ballpark estimate of numbers to:

A) Buy a manufactured home (newer than 1976 - not too fancy)
B) Transport the mobile home (50 miles)
C) Connect to city utilities.

The lot I own has utilities on it.

Any suggestions are very helpful! Thank you.

Trying to get a ballpark estimate of numbers to: 

A) Buy a manufactured home (newer than 1976 - not too fancy)
B) Transport the mobile home (50 miles)
C) Connect to city utilities. 

The lot I own has utilities on it. 

Any suggestions are very helpful! Thank you. 

I heard of someone purchasing an investment property in their name and assigning the contract to their LLC.

They then use the assignment fee as their down payment on the property. 

Does anyone have any insight into this? It seems sketchy. 

Lining up my first BRRRR in Maricopa, Arizona. I want to be sure everything is in place.

Does anyone have a bank/lender in the Phoenix area they recommend I go through to complete the refinance? 

@Enrique Huerta That's excellent. Thank you. Any banks you'd recommend I reach out to? 

We received a letter in the mail from the City in which we own a rental property. 

It's a letter of warning that they've received multiple complaints about the tenants' dog running around the neighborhood and chasing people. 

This is a city code violation. 

How should I handle this? If the tenant doesn't address the issue who is in trouble for this? 

What interest rates are you seeing on 30-year amortized loans for an investment property? 

The best I've seen here in Arizona is 30-year, 15-year balloon at 3.5% interest rate.