All Forum Posts by: Jeff Schneider
Jeff Schneider has started 2 posts and replied 145 times.
Post: Arizona Landlord/Tenant Laws
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Depending on what city here is a basic run down,...https://www.phoenix.gov/financ...
Originally posted by @Dave Meyers:
@Jeff Schneider @Pamela Sandberg
Semi-ish related question.
Sales tax is owed on rental income in some cities in Arizona.
How do I pay it if I don't have an LLC?
Post: What would you do with 60k ?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Talk to a lender. You want to be careful about your live-in that you don't get too leveraged on it. It will ultimately depend on what it appraises for and the equity you have in it. It may be a route to get started. If you get a no-go from lenders, I would get a roommate, the way rents are you may be able to cover most of your mortgage and that will let you start putting cash away.
Originally posted by @Andrew Kutscher:
@Jeff Schneider I have $60k built up in equity on my first property (which I currently live in).
I was thinking about getting an equity loan to do something similar to what you mentioned.
Do you think this strategy would work using equity instead of cash?
My concern is the cost of the combined loans..
I plan on speaking with a lender to see what numbers they come up with.
PS.
Today’s my first day on bigger pockets. Im new to real estate investing, and am eager to learn as much as I can from this community. I’ve been reading Brandon Turners books, listening to the podcast and now I’m here in the forum!
That being said, I’m very motivated/ excited to jump into the “buy and hold” real estate investing model and I look forward to learning from everyone here and thank you all in advance!
Post: Realtor, How Do You Analyse A place is “Good fire Renting”?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
If you are new, grab your broker and have them help you.
Post: What would you do with 60k ?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Any markets somewhat close to you where you can pick up a single family in the 120K range? If you can qualify for the financing, you can split up the money into two 20% down payments, get a 3% 30 year loan and start cash flowing on two single family rentals.
Post: Need to 1031 in Phoenix Metro, wholesaler selling under 300k?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Hi AL, PM me, I would be glad to help. Many Realtors won't be familiar with the 1031 or the time frames, I've done dozens for myself and other investors.
Post: Wholesalers in Phoenix and Greater Phoenix?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Just make sure you know how to do your own due diligence. I've seen people pushing ARV's to make the deals look like deals. You make most of your money on the buy side.
Post: Any HomeSmart Agents On BP?
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
@Russell Brazil , I am a HomeSmart agent.
Post: Arizona Landlord/Tenant Laws
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
A lot of being LL friendly is how fast you can get them out for non-payment of rent. Here is a link to the LLTA -
https://housing.az.gov/sites/default/files/documents/files/Landlord-Tenant-Act-ADOH-Publication-July-2018.pdf
Post: 25% flipping tax??? Not cool.
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Here is a link to more spending he has planned and additional things like a national rent cap.
https://berniesanders.com/issues/housing-all/
Post: 25% flipping tax??? Not cool.
- Residential Real Estate Agent
- Phoenix, AZ
- Posts 154
- Votes 117
Let's not get into politics but since we're all like minded-ish investors, read this and let us know what do you think of forcing market changes, area changes, affordability, excessive taxing etc?
https://theweek.com/speedreads/865930/bernie-sanders-proposes-25-percent-house-flipping-tax-new-housing-plan