All Forum Posts by: Eric Delcol

Hey Logan,

Here's some info on the multi family inventory in the Phoenix / Mesa area.

Builds are rather old in comparison to SFH's.

Multi inventory will be centrally located - a few miles east and west of the 17.  I'm not as familiar with Mesa so you may find some inventory closer to where you live.

Your margin / door will be low so volume will be key.  ie. a small change in rent, such as $50-$75 could make / break a deal.

You wont be competing with "dolphins" so you'll have a competitive advantage in that regard.

Feel free to reach out if you need any contacts.

Hi Monty, I have someone for you. Send me a Pm and I'll send you their info.

If you're financing via BMO Harris,depending on your situation you may need 40% down. It might be different for your situation but you may want to confirm with them before you find a property.

We've changed our focus from Phoenix to Florida. Phoenix prices have skyrocketed in the past 12 months. You can still flip but buy, rent, holds are extremely hard to come by.

"If i go back to the bank within that first year would they decline me to buy a small starter home? ( so my wife and I can move out and rent out our half of the duplex)? " It will depend on your dti ratio. The main factor will be whether the bank will finance a non-primary residence (ie an investment property) for you on top of your primary. Be prepared for 25% down and a higher interest rate.

PM me if you're looking for an investor friendly agent.

There are aspects about every place you will love or hate. If you hate the rain moving to Seattle might drive you nuts. If you love to golf moving to Palm Springs may make you ecstatic. With that said, one thing to keep in mind is a new location is what you make it. A speaker once told a story of how he was walking down a beach in Florida where he lived. A woman notices his hat and starts talking to him, she says how she is from St. Louis and is thinking of moving to this beach town. He asks her "what is it like in St Louis?" She goes on to explain how it's a cold city, the people are rude the neighbors are unfriendly and it's a boring place. He replies saying "yeah that's pretty much what it's like here." Two days later, the same thing happens to, a woman starts talking to him, she's from Chicago and is also looking to move to his town. "What's it like in Chicago?" He asks. She tells him how friendly everyone is, how there's always something to do, and the people look after one another. He replies "yeah that's pretty much what it's like here". It sounds like you have moved a lot and are probably well versed in getting to learn a new city. For other folks out there who may have never moved from their home town and are raring this thread it may be useful to keep in mind. My vote is for Tampa. Vibrant downtown, great university, cosmo city with its own rich history and culture and beautiful beaches.

Hey Dennis,

Welcome.  Learn all you can about all types of investing (flips, buy and hold, wholesale, notes).  Then find the one you like the most and go forward with it.

Hi Antonio, PM me to add me to your buyers list

Hey Will Schryver, 

We are planning on hiring Best Deals Management to manage our rentals.  They have several pricing options but their standard service has no fee for tenant placement:

http://www.bestdealmgt.com/pricing-plans/