All Forum Posts by: Allie Pfannenstiel

Quote from @Account Closed:

Quote from @Allie Pfannenstiel:

Quote from @Account Closed:

Quote from @Allie Pfannenstiel:

@Account Closed check out Pace Morby for creative financing and subject to. You could also do a purchase option if your main goal is to negotiate a low monthly payment. You can create any terms that you want and then if rates ever come down again execute the option and put it into your name.

What is your main purpose of doing it this way? 

 My motivation to buy the home is to retain her sub 3% interest rate. The best rate I can currently get right now with around $7000.00 worth of point buydown is 5.1%. This is with Ally, I've found that they are by far the most competitive for rates. 

The down side in making this deal is I lose my capitol to potentially purchase other properties as the market cools down. 
 

 Exactly my thoughts regarding your capital. Would this be a primary residence or a rental property? 

 It would be my primary until I could purchase again within a year. My plan is to try and finance a new property every year as a primary so I only have to put down 5% at a time. I would then turn my current home into a rental which should cash flow around $400-450 before considering vacancy loss and cap and repairs. It's a new build so I don't anticipate much repair or cap ex hoping to truly cashflow $250-300 a year 

That is a good plan as long as rents and values make sense after one year. 100k is a lot to put down for a creative finance deal is all I am thinking but it sounds like you have thought of that. Feel free to reach out if you ever want to bounce ideas over the phone. :)

Quote from @Zhengxi Tan:

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!

Hi Zhengxi,

It is still possible to find cash flowing properties. The best deals come from off market but I have helped dozens of clients find both on market and off market investment opportunities this year that cash flow. It is more difficult with the higher interest rates and prices but things are cooling down and giving more opportunities for sellers to provide credits for closing costs for interest rate buy downs, making deal a bit sweeter.

I would be happy to jump on a phone call with you and discuss! 

I personally use Anderson Advisors! They have done my estate planning, book keeping, tax preparation, and asset protection.

Quote from @Account Closed:

Quote from @Allie Pfannenstiel:

@Account Closed check out Pace Morby for creative financing and subject to. You could also do a purchase option if your main goal is to negotiate a low monthly payment. You can create any terms that you want and then if rates ever come down again execute the option and put it into your name.

What is your main purpose of doing it this way? 

 My motivation to buy the home is to retain her sub 3% interest rate. The best rate I can currently get right now with around $7000.00 worth of point buydown is 5.1%. This is with Ally, I've found that they are by far the most competitive for rates. 

The down side in making this deal is I lose my capitol to potentially purchase other properties as the market cools down. 
 

 Exactly my thoughts regarding your capital. Would this be a primary residence or a rental property? 

@Spencer Wagner

Absolutely! They are a lot of amazing things in the East Valley to do! 

Regarding the HOA, absolutely. It is a simple call from your real estate agent (or yourself) to the HOA. You would want to ask them "do you have any rental restrictions? Do you have any pet restrictions? Do you have any parking restrictions" etc.

I like to do cost segregation studies on my rentals to get accelerated depreciation. Talk to your accountant to see if that is right for you. 

Reach out if you want local advice :)

@Account Closed check out Pace Morby for creative financing and subject to. You could also do a purchase option if your main goal is to negotiate a low monthly payment. You can create any terms that you want and then if rates ever come down again execute the option and put it into your name.

What is your main purpose of doing it this way? 

I would be happy to hop on a call and discuss your options. A lot has to do with your current finances & future plans. It would be easier to help advise you with a big picture in mind. 

I used First Bank to buy my 5 plex this year.