All Forum Posts by: Doug McVinua

@Gem Montero Welcome to BP fellow Gilbert, AZ! Love Gilbert!!

I know of a Mesa property that could be a good house hack and is convertible to a duplex possibly at $210,000. We could finance with FHA so it is a great house hack!!

@Luis Aguilar Marty is a great instructor, he was my Broker instructor back in the day. Focus on the test at the end of each chapter, in the end, that will be most of your test.

@Luis Aguilar Yes, Up to 4 units is fine and is still a residential loan.

Rates are subject to many variables, your credit etc but yes they are in the 3.5% range.

Happy to connect you with a great lender to provide you with actual answers.

@Deddy W. Legal counsel would be a good avenue to consider at this point

A couple of paths to explore:

1. Did the Property Management Company have authority to re-lease the properties? 
2. Did the Property Management provide you copies of such new leases? (Required)

I do property Mangement but I always have the owner sign the lease. I want owners to know whats going on with their property, I manage it for them.

Welcome to BP @Brent Bialik The site is a wealth of information.

Congratulations on this very rewarding path. Let me know if you ever have any questions.

Doug

@Mary Jo Mertens As an Arizona Broker and Property Manager I would refer you to legal and accountants for the answer.

As a property manager it would make absolutely no difference in any dealings I would potentially have with you. Again it's all about legal and tax!

Welcome to the world of AZ investments!!!! The rental demand is high!!!!

@Scott Dykshorn Welcome to Bigger Pockets! The site is a wealth of information, filter out what works for you and then discount the noise.

AZ is great, moved 19 years ago from Iowa for the weather and real estate. Proudly wearing my Cubs World Series attire!

If any Arizona Property Management questions arise I would be glad to offer my 2 cents as a Broker and Property Manager.

Welcome!!!!!

@Adam Klugh At some point you will need to divest yourself from the day to day management of assets to be retired. Either find a professional Property Manager you actually trust or invest in a different investment vehicle that requires no hands on management. 

Either way, you are going to end up trusting someone to manage something that you are invested in. Some trust real estate, some trust the stock market etc. 

Growth most likely involves some element of risk or park it in a bank and draw measly returns. Of course, this site is real estate based and obviously, most of us believe in that vehicle.

Leverage yourself for the next 7 years to increase the value/return! Maybe even diversify the markets you are in so as to spread the risk.

@Nick McCandless Arizona is often a great spot for CA investors. You are correct, prices are much more affordable and we also continue to see strong rental demand. I currently have zero vacancies on properties.

Always happy to answer any and all questions, how could I assist you?