All Forum Posts by: Dustin P.

This house is off market and is a great opportunity for a fix/flip in an area with a dumpster on every corner. The roof is in great shape and all windows have been replaced with dual pane except for the front two. The HVAC is in working order but is older so may need to be replaced. The pool is in great shape.

Selling for $325,000 (Escrow/Title Fees included) Cash or Hard Money and looking to close quick

ARV is around $440,000

Please Contact me at 602-737-1133. Please no wholesalers - We are not assigning this contract. You must have the ability to close.

Pictures:

https://www.dropbox.com/sh/qinalv4zuu3fkze/AABCl7V828eMp0VF1YTM_Xzta?dl=0

This house is in great shape and could work as either a flip, short term or long term rental. There is about 360 square feet of covered patio/storage space than can be converted to livable square footage which may be a good play in an area getting up to $250/square foot.

Selling for $275,000 (Escrow/Title Fees included) Cash or Hard Money and looking to close quick

Major mechanicals are in good order:

-30 Year Roof

-Trane HVAC

-Dual Pane Windows

-200 Amp Panel

-Newer Water Heater

-CMU Fenced Yard

Please Contact me at 602-737-1133. Please no wholesalers - We are not assigning this contract. You must have the ability to close.

Pictures:

https://www.dropbox.com/sh/ythsbod7p6wp3e6/AAALdYU...

I come across 20-30 wholesale deals a month, a good amount of them off market

Usually I take off 10% for backing a busy road, so you probably should have listed at 199.9k right off the bat. Now that you've been on the market for awhile you have a stigma so no one is likely to offer full price. Also I hate those little mini drops, to me an agent just does those to refresh on people's hot sheets and they are super annoying. If you didn't get the 224k within a month I would have price dropped to 199.9k right away.

10k sounds right on the money for a 1600 square foot house HVAC + Roof (4000 for a 4 ton unit 6000 for roof)

Paint would be around 4k, kitchen around 7k, 2 bathrooms 5k, flooring 5k, fixtures/demo/lighting/etc another 5k

You're more like 35k for rehab unless he's literally doing everything himself to save on labor costs

75k + 35k rehab = 110k all in / 140k = 78% ARV minus repairs deal

If it were in Phoenix and you had solid comps in a conforming neighborhood I think it would be a good deal. In an area like Gila Bend where you're kind of guessing on the comps I'd be a little more wary

I think you'll have a hard time buying properties in Phoenix using the rules of thumb most people tout here, especially a straight 50% expense ratio across the board without individualizing it like Wes mentioned

Offer on 3-5 properties a day, analyze 5-10, track every property, find out where it closed, call and talk to the cash buyers who purchased in an LLC and see what they thought rehab was and what they would sell it for after rehab, figure out from agents what kind of feedback they're getting, set up hot zone searches on the MLS for different $/square foot, etc

I can't find the article but it was a funny one, it showed articles predicting that we are in the next real estate bubble every year for the past 6 years. Are we going to be saying the same thing 5 years from now I wonder, "Yep this is the year, bubble is here!"

Price: $299.9k

ARV: $430k

1750 square foot house, 3 beds 2 baths. Needs Roof / HVAC unit / Windows and interior updates. Comps go up to $450k, fast moving area.

Contact me to discuss details of the transaction and to view property. Wholesale deal, no inspection period, no wholesalers please

602-737-1133

Please tell everyone in Phoenix that the bubble is here so that they stop offering on properties! I would appreciate it greatly