Hello from Mesa, AZ!

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Hello from Mesa, AZ!

Cindy Nevarez
Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes

I just added myself as member here yesterday.

I have been reading posts here now about 24 + hours! Thank you contributors! What a wonderful forum!

We are a middle-aged couple and so far only experienced in buying homes for ourselves to live in. We are planning to invest in long-term hold RE, and possibly some rehabbing very soon though. Still searching for the 'Deal.' I'm looking in several states around the nation.

Our own backyard is precarious at the moment due to the declining market status it has acheived. Oh well.....I'm sure everyone's been there at some point. Our own house is in a good position though since we bought it 8 years ago and didn't refinance it up the wazzoo like many of our neighbors did. It's in a good enough spot to support low rent (even "nice" homes here can't get the rent they deserve) though and still get pos cash flow. That's the plan for this place on the horizon anyway.

Meanwhile, I am reading anything and everything I get my hands on. And thank you all for more suggestions BTW....

I hope you'll all welcome us here, and if I think I have something worthwhile to contribute in the future...I definately will share.

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  • Account Closed
    Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
    18y

    Welcome. Living in the Spring Training home of the best team in baseball, huh? GO CUBBIES!!!

    If you are leary of the local market (and I would be as well), what areas have you been looking towards investing in?

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  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y
    Originally posted by "4rmgt":
    Welcome. Living in the Spring Training home of the best team in baseball, huh? GO CUBBIES!!!

    If you are leary of the local market (and I would be as well), what areas have you been looking towards investing in?

    LOL! I'm originally from Chicago, by way of CA.

    I started out looking in IL, but quickly learned that the property taxes there are crazy high, as well as in Iowa. Every time I'd crunch numbers in either of those places on the cheap, low rent places, the taxes would put me in the negative.

    So lately I've been looking in KC (other areas of Missouri as well), Albuquerque, and Little Rock.

    We decided just the other day that it might be best to actually take a road trip through some of the places we're interested in so we can have some pictures of certain neighborhoods to go with the searches. We were planning on a trip to MO anyway this year.

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  • Account Closed
    Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
    18y

    The taxes in some areas could put you negative, but other areas are just fine. It is a mess, but it isn't something that is unique to Chicagoland. There are areas here that are just fine, as I can personally can vouch for.

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  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y
    Originally posted by "4rmgt":
    The taxes in some areas could put you negative, but other areas are just fine. It is a mess, but it isn't something that is unique to Chicagoland. There are areas here that are just fine, as I can personally can vouch for.

    Just for s**ts and giggles I looked at some properties in my old zipcode 60657 and was first of all astounded at the prices, but did notice that the ratio of taxes were not as bad in comparison to Champaign where I was looking.

    As far as comparison of zipcodes I certainly took notice of the difference between my old zip and the one where my aunt is 60647. There are properties there still in the 100k range.

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  • Account Closed
    Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
    18y

    Yes wow 60657 my hood!!! Nice.

    But yes prices vary almost by street in certain areas. So depending on what sort of cashflow numbers you are looking for, I could help you along the way.

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  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y
    Originally posted by "4rmgt":
    Yes wow 60657 my hood!!! Nice.

    But yes prices vary almost by street in certain areas. So depending on what sort of cashflow numbers you are looking for, I could help you along the way.

    Yes, isn't that a fantastic area now?
    I wonder if my old house is still there. At 1445 W. Roscoe St. I haven't seen it since 97'

    What do people like to rent in that area? Those new condos going up?

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  • Account Closed
    Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
    18y

    If you want, I can walk over and check out 1445 for ya. Just not today, it is raining pretty hard here today.

    Rentals in this area, the best are 2 bedrooms and people are renting some of the older 3 units. The new condos, most are being purchased. This area has not been hit by the downturn.

    They just redid the entire southport strip with benches, new street lighting and an entirely new CTA Stop. So, business are coming in such as Boutiques nail salons, etc.

    Remember KAR KOOL on southport? That was torn down and now 6 condos are there.

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  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y
    Originally posted by "4rmgt":
    If you want, I can walk over and check out 1445 for ya. Just not today, it is raining pretty hard here today.

    Rentals in this area, the best are 2 bedrooms and people are renting some of the older 3 units. The new condos, most are being purchased. This area has not been hit by the downturn.

    They just redid the entire southport strip with benches, new street lighting and an entirely new CTA Stop. So, business are coming in such as Boutiques nail salons, etc.

    Remember KAR KOOL on southport? That was torn down and now 6 condos are there.

    You are within walking distance of my old house!?!? Dang! Can you see the green showing through?

    Actually I don't remember KAR KOOL (I haven't lived there since the early 70s). What's it stand for?

    Anyway, so you're referring to the old brownstones for example on Lake Shore Dr. with 2 and 3 bds that people are renting?

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  • Dave Mason
    Real Estate Coach · Scottsdale, AZ · Member since 2008 · 65 posts · 1 vote
    18y

    I'm in Scottsdale, shout out to my AZ peeps....

    0Reply
  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y

    Hello Dave,

    I like that you educate people against bad debt! Especially in AZ...esp. in Scottsdale!

    That seems to be all the rage over there...show everyone how much stuff you can accumulate!

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  • Dave Mason
    Real Estate Coach · Scottsdale, AZ · Member since 2008 · 65 posts · 1 vote
    18y

    There is nothing wrong with living a simple lifestyle. I know I've downsized. I'm much happier now. I work with people all over the country helping them with their debt issues.

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  • Cindy Nevarez
    OP
    Real Estate Investor · Mesa, AZ · Member since 2008 · 33 posts · 0 votes
    18y

    I agree.

    My husband and I never really got on that "keep up with the Joneses" lifestyle.

    I believe now it has saved our butts more than a few times over the years!

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