Looking to Invest $30K into Real estate. (Arizona Area)

5 Replies

Our market has slowed a bit with COVID, but projections are that it will pick back up pretty quickly. I actually think there could be some opportunities on distressed properties now that will appreciate nicely over the next year or so. I can also put you in touch with a great lender if you need one!

$30k is good for down payment on an investment property, but it may not get you much further than that until you can tap into the equity to get cash to purchase more properties.

Don't think that $30k is sufficient for fix/flip, but it should be a good start for investment that you hold on to for the long run. 

Phoenix is a hot, fast moving market and is expected to be so for quite a while. We only have 13,503 active properties for sale and we need about 25k to be more normal. 

@Chaunti Griggs if you need a hard money or semi-hard money lender, I have a few that will work with you for a BRRRR or flip. They'll cover up to 85-90% of acquisition and rehab, but will want to know your experience to go to the high end.

For a traditional lender, they are asking for 75% or less LTV for non-owner occupy at this time, due to risk in the market, so no more 80 or 85% LTV investment loans atm. That may change as things pick up and numbers improve. They'll also want to see good DTI and credit scores, as they're getting very picky about who they lend to for investment grade deals.