Homeowner · Mesa, AZ · Member since 2009 · 12 posts · 0 votes
picked up a 4 plex in the central Phoenix Downtown area, for all you Arizona investors it is in the Garfield Historic District, 12th Street & McKinley, Purchased it as a lease option 24 months @ 119k with 1k down needs up to 7k in rehab, can cash flow up to 1k monthly. So tell me since I am new if this is a good deal.
I grew up at 16th st/ Mcdowell (right around the corner from 12th st/ Mckinley) and went to North High from '93-'97 so that should tell you not only am I very familiar with this neighborhood as I spent my years a delinquent there.
I still have friends that still live in the old neighborhood but it's not somewhere I'd consider picking a L/O unless the numbers were really really good!
my number is below in signature, you should call me and we'll discuss this property.
I grew up at 16th st/ Mcdowell (right around the corner from 12th st/ Mckinley) and went to North High from '93-'97 so that should tell you not only am I very familiar with this neighborhood as I spent my years a delinquent there.
I still have friends that still live in the old neighborhood but it's not somewhere I'd consider picking a L/O unless the numbers were really really good!
my number is below in signature, you should call me and we'll discuss this property.
Hey NIck, all's good in da hood, it got better when you moved out, lol and it gettin a lil better, only a few bodies pop up monthly, lol. My gf was bustin my balls this morning and saying Imma slum lord.
basically my partners & myself tied up a four plex all 1/1 600 sq foot for 1k down with lease option of 2 years, we can purchase property or give back to owner, plus the owner is carrying the balance. We will pay the mortgage at $800, units rent in this area is anywhere from $400 to $500 and we are looking to rent at $450 and repairs to get all four in decent shape is closer to 3k and cash flowing around $800 to $900 after expenses.
Looks like a good deal with low risk. You ultimately have yourself a master lease option and are only responsible for the rents. Unless I am missing some details, the numbers look great!
If you can find more, I am interested.