All Forum Posts by: Toby Rachel

What would you do with five months off from work, 130k spare cash (separate from savings) and great credit? Goal - start a profitable and scalable investment business that can support my family. Willing to do anything with the exception of move my family to an unsafe area. Home base - Scottsdale, AZ. 

We are looking for a home to live in that can also provide an income. That's where our confusion is coming in on how to analyze the property. If this was just a rental, we would have two houses on one lot and the property would cash flow. But since it's not a two property rental b/c we will be living in one and renting the other, how should we analyze the property? 

SF 3/2 1,529 sq ft with a 650 sq ft guest house (1/1 w/ kitchen) on a 9,829 sq ft lot. Walking distance from Old Town Scottsdale. List price - $295 Total 100k gut job for both the main home, guest house, and the yard (100k is on the high side). Comps in the area are Mid to high $300s. We believe we can purchase the property for $270 and are considering making an offer.

We are newbie investors, this would be deal #1. We have been looking for a SF with a guest house for months and this is the first and only that has come our way. The location is perfect, The guest house is a great location for short term vacay in the area. The neighborhood is great for us as a family. The area is expected to appreciate in the next few years. We've run the numbers and we would be cutting it close if we decide to refi in a year/year and a half and use that money for another property. We don't want this property to hurt our ability to scale and continue investing.

As newbies should we stay away from rehabs this size with little room for error? 

@Michael Greenberg The address is 4950 N Miller Road #247 Scottsdale AZ 85251 - We have been looking for one condo and one SF with a guest house both in Scottsdale. Today we found a SF/guest house rehab in Scottsdale and if we pull the trigger on the house we will be waiting a few months on the condo purchase. Thank you for reaching out! 

@John Underwood We spent many...probably too many hours... looking through AirBNB today and it has been very helpful doing so. Thanks for the tip!

@John D. Thank you!

Hello! We are making an offer on our first investment property and are a little torn. It's a 1/1, beautifully furnished in an excellent downtown Scottsdale location. Our goal is short term vacay rental. Anyone out there have feedback on 1/1? Do we need to hold off for a 2/1 or 2/2? Thanks!! :-)

Hi all! Anyone out there have experience rehabbing a home that has significant damage r/t a fire? Do you mind passing along your two cents, or directing me to information on things to consider when evaluating the property, rehabbing the home, etc. Your advice is greatly appreciated! 

Hello BP friends.

We have found a buyer for our home and will be providing the financing. The buyer would like an appraisal. Any recommendations on who to hire? We are in Snellville Georgia near Brookwood HS. Thanks! 

PS any other advice is always welcome!