All Forum Posts by: Justin Caputo

@Alan Grobmeier Absolutely C class! Yeah I passed on the deal..still looking everyday! Thanks for your input, totally agree! Let's connect sometime if you're local to the Phoenix Valley. Thanks!

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Hello! Some reason I can't find a referral forum so thought I'd try here especially since Phoenix is a mecca for REI. So does anyone here have a good General Contractor in the Phoenix valley that they've used before? Recently moved to Scottsdale and looking to start buying properties and have a couple now that I'm in contact with that I'd like to do a walkthrough with the contractor so I can start running some numbers..Also open to partnerships if anyone is local to Arizona. Thank you so much in advance - JC

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@Engelbert Devera

what is the issue with that? If you’re under contract, you should be fine.

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@Doug McVinua

Thank you Doug, I agree!

Yeah the lack of details is what’s holding me back. I reached out again today but no word. And with this wholesale deal, the $5k is non refundable so if it were to not look good I’d be out!

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Hello!

I'm a AZ & OR Realtor who moved to AZ this year and have been looking for 6+ months on my next deal. Goal was to have 4 units before the end of the year. I finally found what looks to be a great deal on paper last night. 4 units for $289k, rental income is $3,140/month. The numbers look good but the area, is probably C class.I need a second opinion on this deal before moving forward. THe wholesaler has zero information. I asked for expenses and all he said is owner pays water. But doesn't know how much. It's fully occupied, I'm asking him to ask the seller for financials but haven't hear back yet. The contract is in my inbox to make it mine. I would love to meet some local investors here in Arizona that could give me their opinions and even possibly partnering up. I have the capital and ready to go but just don't want to step into a nightmare.

Thank you!!!
Justin Caputo

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Interesting... So i'm looking to do my first BRRR and I have been looking to get financing to do this.. actually found a lender who has a loan program designed specifically for BRRR. But after hearing what you said, maybe I should consdiering just buying cash instead?

I have $100k aside but didn't want to use my own capital if I don't have to.
Is the fee so significant that it makes much more sense to just use cash?

Originally posted by @Alexander Felice:

Originally posted by @Brandon Sturgill:

@Chris Mandle Yes...paying cash is the way to approach this...but less than 5% of new investors can do this...then you're really looking at delayed financing...the other 95% of newer investors are leveraging bank money.

I personally structure purchase money mortgages...and buy at deep discount, so I can make it work...but that's a different conversation altogether.

I spent a long time waiting to do my first for this reason. Cash is the only way BRRRR makes sense to me.

separating the purchase transaction from the loan transaction was really important for me as well, so pay cash then refi on the back end.

All my deals are purchased so I have 75% LTV an 0% of my funds included, so I'm keeping all my cash on the side in addition to the equity gain. Risk mitigation gets built FIRST, then come profits. Trying to BRRRR on razor thin margins with low capital reserves just to get a deal is not the way I recommend it.

rational and patient strategy doesn't sell though, HYPE sells!

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Is this today or tomorrow because it shows two different dates?

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@Isabelle M Lombard My Home Group in Scottsdale will be your best option by far!

Shoot me a message or call/text me for questions: 4802692795

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Scottsdale, Arizona

@Anthony Katsonis

Omg there’s so many ways! I actually just wrote a book: “113 ways to generate leads in RE”

Buffini is okay but can be slow.. get out there!!

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Oh I'd love to check this out!

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All Forum Posts by: Justin Caputo

Justin Caputo has started 7 posts and replied 47 times.

Post: New to Arizona, HELP. Buying my first Multifamily here!

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Post: New to Arizona, HELP. Buying my first Multifamily here!

Post: New to Arizona, HELP. Buying my first Multifamily here!

Post: BRRRR Method Downfall

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