All Forum Posts by: Xavier Williams

I have a few wholesale deals coming in and I would like to collect information from anybody who may be interested in Arizona wholesale deals. I will send them out as soon as I get them to interested parties. Email and or phone numbers for text blast works too.

Thanks,

Xavier

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Originally posted by @Amaka Nzenaguora:

Wow, well done analysis. Where did you get your comps? And how did you get the repair value of $20,000? Did you actually measure the house by square feet and get a materials and labor quote or did you truly estimate?

Hi Amaka,

It was an estimate from our contractor that works on our projects. The comps came from online sources Zillow, Trulia etc... Which are accurate as one has closed and the other just went on the market a few days ago.

Let me know if I can be of assistance!

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Could you email me more details please [email protected]

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Purchase Price: $73,500

Rehab Cost: $20,000

Needs AC, Floors, Refinish Cabinets, Counter tops, Floors

ARV: $125,000

Comps:

3130 W POLK St Phoenix, AZ 85009 Sold 1/29/2016 $132,000

3537 W HADLEY St Phoenix, AZ 85009 Active Since 4/7/2016 $128,000

EMD: $8,500

Escrow: 10 Days

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If you find a great deal that make sense I might be willing to JV. Lmk

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Can you PM me the details or email please?

Thanks,

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Do a cost analysis in both scenarios and go with what makes more sense for your financial situation. With rates where they are now I would personally lock my primary (that I intend to live in long term) property into a fixed rate loan and find another financing option for your investment property. This is assuming you have enough buying power to afford both. I would hate to be living in a multi family I can no longer afford to due to an unforeseen event and end up in the streets.

When you are ready to start looking for properties lmk I have a solid wholesaler on Arizona that can get you a solid property at a great price.

Best of Luck and Welcome!

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Originally posted by @Jacob Tracy:

Good evening all!

My wife and I are first time investors looking to invest in a multi family home in Phoenix! We will be using a VA loan to do so in July and we have been surfing the market for the past 6 months or so just getting a feel for how things are moving and what we are willing to spend.
Recently we have been floating the idea of purchasing a multi family home as a sole investment and using the VA loan on a foreclosure as our primary residence, as we would like to plant some semi-permanent roots in the area for my wife's occupation.
So my question is.. Is this a feasible plan? Being that the VA loan is a zero down loan that we will be meeting all criteria for, will lenders likely still be willing to approve us for a conventional loan on the multi family property with us having a sufficient debt to income and substantial down payment? Or would it be a more wise decision to do the VA loan and owner occupy a multi for the 11 months residency the VA requires?
I've researched far and wide and had my plan in place but as the time approaches we are
Feeling as if we haven't explored all of our possible options starting out. Any help is greatly appreciated!

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In California, it's standard that seller pays commission to listing agent. Listing agent then splits profit with the selling (buyers) agent. In our MLS there's usually always a clause in the listing that if the bank lowers the listing agents commission (due to low offers, banks will do that) the selling agent shares the reduction in commission. If he is double ending the deal, (which it sounds like he is) it doesn't make sense for you to pay him any fees. YMMV I would contact a second realtor in your area.

Best of Luck,

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All Forum Posts by: Xavier Williams

Xavier Williams has started 19 posts and replied 64 times.

Post: Arizona Investment

Post: Wholesale deals in Arizona Need Interested Buyers

Post: Wholesale deal in Phoenix, Arizona $73,500 Large Lot 8K+ Sq Ft

Post: 3 bed, 2 bath home for sale in Manteca CA

Post: Wholesale deal in Phoenix, Arizona $73,500 Large Lot 8K+ Sq Ft

Post: Discouraged First Time Flipper

Post: Wholesale: cash buyer

Post: Newbie investing in Phoenix AZ

Post: Newbie investing in Phoenix AZ

Post: Is The Realtor I'm Dealing With Unethical/Sloppy, or Am I Wrong?