All Forum Posts by: Saxxon Rybski

 Yes your correct typo thanks for correcting me.

3966 E Pima St, Tucson AZ 85014

Sale Price 450k

Arv 780k

Estimated repairs =140k

Emd 5k non refundable 

4plex = x1 4bed 2 bath and x3 2bed 1 bath

3,073 total sqft 

Taxes = $3210

Link to Photos: https://www.dropbox.com/sh/yvj... to property inspectionhttps://www.dropbox.com/sh/0vb... Property is zoned for 5 to 23 units but currently sits as 4 units. 3 units are 2/1s one is a 4/2. The Standard market rents for the 2/1s are $1200 a month and for the 4/2 $1600 a month.

Standard market rental income = $5,200

Link to rental comps : https://www.dropbox.com/s/abgh... the 2/1 units are recently vacant the last tenant I'm working on getting her out. That one will be vacant the beginning of February.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $330,000
Cash invested: $80,000
Sale price: $440,000

In summary, it was purchased for 330k (subject two) putting 30k down (21k for arrears, 5k to the seller, and 4k for closing cost).
My PITI was $1100 (1100 x 10 months = $11000) $11,000 holding cost
utilities were $2500
80k in repairs
sold for 440k
440 -330-80-11000-2500 = $16,500 total profit
https://www.zillow.com/homedetails/2033-Devonshire-Dr-Sierra-Vista-AZ-85635/7395567_zpid/

What made you interested in investing in this type of deal?

learning how to help people out of impossible situations.

How did you find this deal and how did you negotiate it?

Virtual Driving for dollars

How did you finance this deal?

Subject to

How did you add value to the deal?

A lot of sweat equity and a total remodel of the property.

What was the outcome?

I was able sale the propperty

Lessons learned? Challenges?

first of which is always to have 2 to 3 well-thought-out exit strategies. Second, make sure you get 3 to 5 contractor bids off of your SOW not what they think needs to be done. Third, Make sure your contract is as detailed as possible especially. how draws will / be paid, who is responsible for buying materials, how to handle change orders, and finally set up penalties on your contractor for going over schedule.

 For the horizontal development the 430k includes the sidewalk, curbs, drainage and every thing. I do have bids that came in at double the cost. However my GC and partners are going to subcontract out alot of the work and source most the material from Mexico since we are so close. Witch is a big savings. 

my plan is to sell them I do not plan on keeping any of them. I already have 4 LOI to purchase. I just can't sell them until I fist purchase the land and get the slab done so my buyer can buy via construction loan.

the timeliness I have to development the raw land into finished lots is 2 to 3 months. Then another 14 to 16 months to build the homes. 

I'm actually talking with my architect and zoning with the city abou changing the plans due to the sifting market. Right now the plan is 14 custom home above the median home price. I'm thinking about switching them to smaller starter homes just under the median sale price. That will double the build from 14 to 28. When talking to a hedge fund yesterday they gave me a LOI to buy all 28 at 345k. So now I'm in the process of getting pricing for the rezoning, and the new price to the horizontal infrastructure.

My comps for the smaller 28 homes are 400k with the cost to build of just the homes is 150 per sqft. The plans are for 3/2 1200sqft so depending on the new cost of the horizontal and rezoning. I'm thinking that is going to be a better  play.

The 2 module home build is my GC plan. He said that will make the pre selling the other 12 easier with the customer seeing a finished product. I'm open to suggestions this is my fist development. 

I'm Working on my first new development project in Tucon az. I'm looking for an equity partner on this deal due to my lack of funds. The total cost is $5,680,000 and the arv is $7,900,000. 

The project is break ground ready now and will take 14 to 18 months from breaking ground. 840k is the cost of the land valued at 1.2m as it sits. 430k is the cost of the horizontal development and will take 2 months to complete. 4.41 million is the cost for the 14 home builds. The homes are 4/2 2100sqft and will cost 150 per sqft to build. 

My plan is to start with two homes for model homes. Then 4 homes at a time for the rest of the project. I will pre-sell the home as I build them.  

anyone with development experience I'd love to connect for insight on the the process. 

Thanks for reading looking forward to connecting with you

 Dino at New Concepts Property management is awesome I vetted 5 or 6 different PM's in Tucson and new Concepts definitely stood out to me. I used them on my current rentals. They are very thorough with tenant screening and very fast when turning the property. I could not have asked for a better PM. Hope this is helpful to you and good luck with your Pm search.

Dinos contact info is (520)551-7247 give him a call he will take good care of you and your property   

@Aidan Sorenson expired listing are a good place to start looking. First you know they want to sell but were not to sell. Also pre-forecloseures are one of the best especially at this time with 30 to 4o million Americans are behind and are in danger of losing thier property. Perfact opportunity for you to find a win win solution that helps both of you.

I'm in Tucson and pretty new myself but im here if I can help you!

That all depends on your budget and how much time you want to spend on your marketing channels.

I recommend people first starting out (this includes myself) to start out Driving for dollars and cold calling or just knock on their door a speak with them. I recommend this for a few reasons first this will help you learn the area your working and you will get the best list of potential leads (because no one will have the same list as you and they all will have some kind of distress). Deal Machine and Batch Driven are both great driving for dollars apps you can use. 

For cold calling You can manually dial after you skip trace the to get you numbers to dial would be the cheapest way or there are many different dialers you can use I use Mojo but I'm looking into others now. Keep in mind skip tracing and the Dialer can start to add up very fast depended on how many properties you skip trace. 

So if you're tight on a budget when you first start I recommend Driving for dollars (with or without an app at first) then just knock on the door and talk to them leave a note if they don't answer.

If you got a good budget starting out there is a lot of different channels you can go. I live in Tucson as well if I can help you in any way please let me know

Local meetups and And auctions are a good way, but the best I've found Here in Tucson is to call the title companies and ask them who are doing the most wholesales and double close. Tell them that you are looking to connect with others to do mere deals. usually, they are happy to recommend someone.

 Just be very careful right now I'm seeing a lot more shady wholesalers out here.  when you find a good wholesaler you can trade them buyers list to rapidly grow your list of buyers and wholesalers.

I live in Tucson As well if there is anything I can do to help you DM me  , id love to help!

@Jerry Boutt Patrick Allen with keller Williams is great he understands the investing side of things and host a monthly meet up in Tucson.