All Forum Posts by: Matthew Parkhurst
Matthew Parkhurst has started 3 posts and replied 10 times.
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
@Jim S. Only pay electricity for the laundry room. All units metered.
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
@Account Closed Meeting tomorrow with the owner to discuss some numbers. Possible seller financing.
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
@Dick Stevens I could do either. More than likely renting all units but I know there is usually a benefit to doing owner occupancy.
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
@Dick Stevens In your opinion was is this property worth?
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
Thank you for any help and/or advice.
Post: Is this a good deal for my first property?
- Tempe, AZ
- Posts 10
- Votes 1
https://www.redfin.com/AZ/Tempe/825-W-3rd-St-85281...
4 units.
Current monthly income: $3360
Yearly taxes: $1447
Electric per year: $680
Insurance per year: $676
Sale Price: $525k
$2k per month in mortgage.
I make $50k a year. 20 years old. Only have rent and car payment. Live off $1500 a month.
Post: Is this a good opportunity for my first rental?
- Tempe, AZ
- Posts 10
- Votes 1
Originally posted by @Carlos Zapata:
@Matthew Parkhurst Congratutuins, you are doing your first step, I would not do a long distance investment if this is your first one, you can find good deal closer to your home, before moving forward with any purchase try to learn about the market, population, drivers, you can fix a property but you cannot fix a market
good luck
Would you recommend me getting my real estate license? Arizona's market prices is a lot higher but I could look in Texas. What is a good way to learn more about all of that without living in the area for long?
Post: Is this a good opportunity for my first rental?
- Tempe, AZ
- Posts 10
- Votes 1
Looking for my first rental property. Found one in Augusta, GA. Seller financed. $2k down, $300 a month. Thinking of putting in a couple thousand and renting it out for $500 to get my feet wet. 10% towards property management as I am in AZ. Would fly in to do all the work. I am 19 and just got my first auto loan a few months ago so do not have enough established credit to get a mortgage.
Would this be wise?
https://www.zillow.com/homedetails/1638-Douglas-St...
Any opinions or tips appreciated!
Post: Is this a good idea for my first buy & hold?
- Tempe, AZ
- Posts 10
- Votes 1
Originally posted by @Derrick E.:
This is the EXACT type of properties that I invest in. The only difference is that I invest in my local market so I know the streets, and I manage them myself. I also do most of the work myself or hire close friends/family to help me.
I'm not sure of that market or area. I would look for some rental comps in the area. I love that its a 3BR in that price range. Updated electrical is a good thing.
Hate that theres no central H/A in that price range and that one picture looks like a back section was added on to? Still, just from the pics it looks like a solid house and if it was in my local market, I would definitely go check it out at least.
You would be amazed at what paint/light fixtures/flooring can do for a place.
With lower income housing what are your rental clients like? Any recommendations or tips with properties such as these?
Post: Is this a good idea for my first buy & hold?
- Tempe, AZ
- Posts 10
- Votes 1
Looking for my first property and came across this. https://www.zillow.com/homedetails/1638-Douglas-St-Augusta-GA-30901/14957023_zpid
With seller financing it would be $2k down, $300 a month. Was thinking of putting a grand or two in it and renting for around $500. I’m in AZ but could fly out there to do the work and have a company out there manage it.
Is this wise?
I make about $4k a month after taxes and my bills are around $1500.