Updated over 12 years ago on . Most recent reply
Newbie In Phoenix
I'm a newbie investor in the Phoenix market, I do have experience in rehab projects. I started investing accidentally in Illiinois by purchasing homes for my families non-profit org. We (for profit co.) rehabbed the properties to house foster kids and state wards for our non profit entity. Although we gained lucrative contracts from Illinois we purchased the properties not with investing in mind, however that's what occurred. We would purchase foreclosures and hud homes in rural areas rehab them and solidify a contract with the state. Some contracts were upwards of 1.5 million, with that in mind our for profit company would then rent the units to the non profit entity for market value rent. We currently have a small portfolio of 3 SFR in Illinois. I was unaware of all the financial data that coincided with rental property, however I understood rate of returns.
I am currently looking to begin wholesaling to generate income to increase our rental portfolio for passive income, and reproduce a similar model in the Phoenix metro Area.