All Forum Posts by: Daniel Pitner

I need some help coming up with a creative owner financing deal. Here are the details:

Purchase Price $165

Down Payment : 10k

Projected Rent: $1300

ARV: 200k

Would you do this deal? If so, how would you structure the financing?

@Calvin T. @Calvin T. We purchased the property at 285k. The comps have an updated house without a casita coming in at 470k. We would most likely be using a contractor for everything. Our max budget would be 90k.

I know this topic is widely discussed, but I've finally found myself in a position where I need to know how to estimate rehab costs.

We are under contract for a home that will become our personal property.  It also has a detached garage that has plumbing and electricity that would turn into a casita to rent out. The problem is, I'm stuck on rehab costs. I have no idea where to start. The house is 1500 square feet and will need new flooring,popcorn ceiling removed, new kitchen (and the kitchen needs to be moved), and a few walls blown out. The casita would need to be completely built out (frame a bathroom, add a kitchenette, etc) 

Where do I even start?!

@Ryan Swan Thank you for your input! With the "expensive to begin with properties" do you think these are the best because nobody is considering them, or that they are overpriced and there is a deal to be made? Also, do you know the search field in the ARMLS for that? 

@Stone Jin, that's a great point. 

@Stone Jin thanks for your input! We are leaning towards a home with separate guest quarters. We've been on the search. With the current market conditions in Phoenix, things are moving quickly.  

My wife and I are looking to purchase a new home, rent out our current house, and hopefully house hack with the new purchase. The issue that we are running into is that there are very few duplexes in the Phoenix/Phoenix metro market. I still think that we have the ability to make money off of a primary residence. Do you guys have any ideas or suggestions on how to accomplish this? 

Thank you, Micah. I appreciate this! I think I'm leaning towards the second thought. I like the idea of having skin in the game, as well as learning from a pro. I will seek out some REI meetings.

Hi guys, 

I want to do a house flip, however, I'm a little paralyzed by fear.  Ideally, I would want to partner with somebody who knows what they are doing and is willing to teach me while I provide some of the financing.  What would you guys suggest for finding a trustworthy, reliable partner? I want to protect myself from being taken advantage of and I don't know where to start.  Your suggestions would be appreciated! 

@Grant Rothenburger no, that was a separate thought. We are planning on purchasing a primary residence in the next year, separate from investing