All Forum Posts by: Rylan Lacey

Probably close to 30 year fixed, around 4.5% with 25% down

Looking at a new construction 4 plex deal in Phoenix

Purchase price -$780,000 

 2 bed 1 bath, 750 sq ft each 

Projected rents- $60,000 annually

Projected completion- August 2020

3 of the 4 units have personal backyards, all new construction and a warranty by the builder. 8 covered parking spaces. Open floor plan. Includes microwave over the range, dishwasher, front loader stackable washer and dryers in unit.

Figured $1,000 a month to cover property taxes, reserves for minor repairs, ex. 1% rule doesn’t really exist in Phoenix, and with such great appreciation and massive tax write offs, doesn’t seem like a bad deal. Plus the 50% rule isn’t really applicable because everything is brand new. Just wanting to get others thoughts on new construction deals like these.