All Forum Posts by: Michael Ratzken

@Jeff Quinlan

Hey Jeff I’d be happy to speak with you about the phx multifamily market! Send me a message

@Francisco Jasso

Ya I agree with a lot of the other comments 40-50k will not buy you much in Arizona. And if you happen to find something the home will essentially be a tear down

@JC Acosta

Hey JC interesting strategy I don’t have a direct answer to your question but I can provide you a contact to a title rep that could tell you the steps l, where is the 4plex located ?

Hey Levi 

That is absolutely not true and I’m sorry you were misinformed, just like any property owner can sell their home for sale by owner you can manage your own rental. There are no laws against doing it. Pending your schedule, it may make more sense to let someone manage it but typically it’s about a 10% fee 

Woops Sorry

Hi All,

I have 2 deals for investors out there

I have a client that is looking to see a fixer upper property in Tempe less than a mile from the largest university in the country Arizona State, We have discussed listing the property at 140k its a 4/2 1600sf home with decent sized back yard, most of the items appear to be cosmetic, kitchen, paint, flooring, landscaping ect (you would need to do your own investigating). probably need 35-45k in work, comps in the neighborhood go up to 220-235k if remodeled.

I have a home is near downtown phx with nearly an acre of land which is extremely uncommon. The home on the property is a tear-down, but the value is in the land for a potential builder to come in and subdivide and build homes, the owner is asking 175k

Feel free to email me for more info or questions at [email protected]

Any agents work in this general area I have a client looking to purchase a home in this area but an only a member of Sevrar (south east valley), looking to  refer these clients out to a knowledgeable agent.

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http://www.tempe.gov/city-hall/community-development/development-projects

Gina,

Arizona is a great place to buy. Especially in the North Tempe area, right now it is going through unprecedented construction and billions of dollars being poured into new companies and buildings and developments. State Farm is currently constructing 3 separate buildings and planning to hire 13000 employees . Also a tremendous amount of construction is being done with a minimum of a dozen separate projects catering to students and or young adults. Plans for the USA Basketball Training center are also underway in the heart of downtown Tempe. Not to mention Arizona State's ever increasing enrollment(goal of 100,000 students), Tempe is set to be on a major upswing price wise. Right now our housing market is ripe for investors to come back into the market. Over the next 3 years Tempe will change tremendously and be nearly unrecognizable. With the influx of students and young adults and no room to build more single family homes prices of these are bound to see a significant increase. Buy and hold scenarios could be very profitable 

The 2% rule would definitely not apply in Tempe Az, or any of the surrounding towns and cities in this current market. Currently it is extremely hard to find a SFR home in Tempe for under 160k! Using the 2% rule and a 160k purchase price it would have to rent out for $3200 a month. Rent on a 160k home would range from 1000-1400 pending proximity to Campus, condition, amenities ect