All Forum Posts by: Dustin P.

@Olivia Darling I would echo what @Etienne Martel said in doing your own DD to verify the ARV first to determine if it's a good deal. You want to look at closed comps within the last 6 months if you can (Can go out to 9-12 months if no sales recently) within ~1/2 square mile of the subject property and not crossing any major roads. You can use something like redfin or you can also ask an agent friend to comp it for you using ARMLS

As far as financing is concerned, hard money could be a good option, especially if you find one that has a temporary to permanent option (Starting out as a construction loan, and then using a preferred lender to refinance out into a conventional once the construction is done). Although with this needing no rehab you may not want to go hard money so I'd do more research on that front.

Good luck! Looks like great cash flow property on paper.

@Salvatore Tardio I wanted to chime in on what @Jon S. said. As a Networth associate we do not require you to use 212 loans for financing, although as you mentioned it can be more convenient at times because of how quick the deals move and how fast 212 can close. As stated here already as long as the lender you are using can close on time (Typically less than a week) then there are no issues. I'm sure the associate you are working with can attest to that and answer any other questions you may have.

Again, I strongly encourage you to do your homework on the deals and verify that our ARVs/numbers make sense. The deals do move fast but there should be enough time to check comps, and you can always have your GC meet you at the property as well to verify rehab. numbers.

Good luck on doing your first deal!

Welcome to BP Mrs. A! Glad to have another one from the HOT state

@Darwin Crawford I'm not sure if this post was more informative or more entertaining! I'm leaning towards informative; that's an awesome amount of information and IMO a very creative and cost-effective way of reducing your expenses. No one really gets the Arizona heat until they live here that's for sure.

Interested to see how much this drops your utilities bill!

@Luke Grieshop Welcome from Chandler! Monthly cash flow is where it's at. Good luck in your REI goals, it's always awesome to network with local people

@Ronald Chandler Welcome to Bigger Pockets! There's a wealth of information on here and your construction background will be a huge plus if you decide to tackle portions of the rehab. on your own. Fixing in flipping is definitely a good idea right now in Phoenix. East Valley in particular is growing right now. Good luck and I'm sure that you will achieve your goal.

@Felipe Munoz It's definitely tough out there right now for East Valley, Mesa, Tempe deals. I think you're on the right track in driving for dollars, trying to get off-market deals, etc. MLS is definitely hard right now with as many buyers as there are. If you want to check out a wholesaler I do have one that I could recommend.

Price Reduction to $355k. I can provide our packet with pictures/comps/CMA as well as a copy of the appraisal showing $555k.

Please e-mail [email protected] or call/text 360-731-3509

Property is still available

This property is large 5 bedroom 2 bath in Phoenix located near the Biltmore, Esplanade, great restaurants and walking distance to high school. The inside needs to be fully remodeled and updated.

This property is not available for co-wholesale or assignment. You must close on the property.

Purchase Price: $365k

Closing Costs: Not to exceed $3500

COE Date: ASAP

Down Payment: $10k

ARV: $525k

Rehab. Estimate: $55k

This property was recently appraised (Subject to the rehab.) at $555k, so I believe the $525k ARV to be conservative.

I can provide private hard money financing if needed, as well as a network of 3rd party contractors for referral.

I can also provide a listing agent to list the property at a discount (Optional)

Please contact me to set up a time to view the property. I would prefer meeting at my office beforehand to go over how we do our transactions (It is close to the property) if you are local. 

Phone: 602-737-1133

E-mail: [email protected]

SA673985000