All Forum Posts by: Jacob Evans

Cosmetic fixer in one of Scottsdale's best neighborhoods, available now!

Contract available for assignment.

Call, text or email to claim this deal asap!

Vacant and ready for your finishing touches. After an easy, cosmetic update this property should return a 50k flip profit.

Details below:

House Address: 7634 E Nogales Rd, Scottsdale, AZ

Purchase Price: $515k

After Repair Value, est: $650 - 700k
Rehab Costs, est: $30 - 55k

Closing Date: May 7th, 2018, or sooner.

Notes:

- Realtor's: Feel free to forward this deal along to your buyer's, but add your fee to the purchase price if you'd like to receive a commission at closing.

Google Maps

County Info

Listing & Comps

House Stats:

Currently a 3 bed, 3 bath, 2,608 finished sqft with a 2 car garage and a community pool!

Ideal Exit:

I suggest cosmetic upgrades and immediately reselling for top market value during the peak of the Spring market.

To secure this deal please complete all of your due diligence and deliver a check or wire for $5,000, non-refundable earnest deposit.

~ Happy Hunting!

Hey Leigh, I've been investing in Spokane since 07' and am a licensed realtor. I'd be happy to help you out. I'll email you my contact info.

Details on this triplex are below. 

Contract available for assignment or partnership.

Feel free to call or text me for more details. 509-413-6539

If interested in seeing the inside I'll be touring the property later this week!

After securing 4% conventional financing this property should generate about $1,200 per month in cash flow from a total initial cash down payment of roughly $20k after an anticipated appraisal of $180k+- (144k loan)

= 72% annual cash on cash return.

Google Map

County Info

Rentometer Rent Estimate - for 1 bedroom

Best Comp - (sold Dec 16' for 170k) Needed repairs, below market rents, 3 blocks away from subject property, NOT on a park.

Comps - All comps are 3 & 4 unit properties, within a 1 mile radius, within the past 18 months. Pay close attention to condition, gross rents and "sold price", obviously.

Search radius below:

Property:

Address: 5008 N Nelson St Spokane WA. ***Do not disturb occupants.

Purchase Price: $150k Rehab Costs, est: $5-15k (Rent grade. I have not viewed the interior yet. Seller says the 2 bed unit has been updated and the other two 1 bed units will need cosmetic updates. All are currently occupied)

After Repair Value, est: $170-190k

Gross Rent, est: $1,800 (rentometer places rents around $635 for a 1 bedroom, which seems high)

Cash Flow, est: $1,200

1 Yr Cash On Cash Return, est: 72% (assuming out of pocket expenses of $10k purchase/closing costs and $10k rehab after refinancing with a $180k appraisal (144k loan).

Closing Date: April 19th, 2018, or sooner (flexible).

Notes:

- Spokane County is currently experiencing vacancy rates of less than 1%.

Property Stats:

Directly across the street from Kehoe Park and an elementary school.

One, 2 bed unit upstairs. Two, 1 bed units down. Zoned Triplex. 2,000 above grade square feet and a partial basement.

- The upstairs 2 bedroom unit is on a lease for $515 until December, but the seller says he's very easy to work with and would likely agree to a price increase.

- The other two, lower units are 1 bedroom each at $400 & $410 and are on a month-to-month lease due for a price increase ($1,325 gross rent, currently).

- Shared laundry access in the basement.

Projected Rental Info, est.:

2 bed: $700

1 bed: $550

1 bed: $550

Total: $1,800

Exit Strategy:

These are family legacy properties!

I wouldn't sell these off for nothin!

Raise rents, rehab if needed, refinance and collect cash-flow through retirement and then pass it along to loved ones to do the same.

To secure this deal please complete all of your due diligence and deliver or wire $2,500, non-refundable, earnest deposit.

~Happy Hunting!

Welcome Jeffrey! I've been investing in Spokane since 07' and would be happy to grab a quick burrito to talk shop sometime. Hit me up. 

~ Happy Hunting! 

I'd be game for a meet-up. 

@Jenny Hartzog 

I concur with Naftalia's plan, above. 

Dan is correct about the winters. It gets REALLY cold, but a nice set of winter gear and you should be fine. I moved over from the Seattle area 10 years ago and the first few winters were SHOCKING, but I've adjusted well. 

If you'd like to start peaking at investment deals in Spokane please pm your email and I'll forward along our wholesale deals as they come up. 

Cheers!

~ Happy Hunting.

@Jenny Hartzog

I've been a wholesaler and licensed broker operating in Spokane since 07'. Feel free to reach out and let me know what email I should send our next deal to.

~ Happy Hunting! 

I'll be back in town on the 15th. I'll hit you up.

Originally posted by @Xavier Garcia:

Is this property available to view this weekend?

 Hey Xavier, This property will not be available for tours prior to closing and the current occupany will stay in place past closing. 
This seller insists on selling it as-is, where is with the occupant in place. 

Hey Tanya, I've purchased over 90 houses at the foreclosure auction, tax auction and various online auctions within Spokane County. I'd suggest reaching out to Landon at Citibrokers. He helped me purchase most of mine.

Thx!

http://landon.citibrokers.com/

Let me know if you have any specific questions or concerns. 

~Happy Hunting