All Forum Posts by: Garrick Oconnell

Hello @William Byers just checking in to see if you ever invested in Flagstaff?

I would not say I have a team to do the work, but definitely have a capable recommendation completed a 300 sq/ft add on. I acted as contractor. 

and purchased 4 manufactured home lots in a community that are close to completion keep 3 as rentals and sell 1. Lots were empty except for garage and driveways similar to a townhome community.

There is a AZREIA meeting tomorrow night ! Arizona real estate investors association

"It's all about Cash Flow and Wealth Building!" starts at 5:15 for a workshop I usually get there after 6 for networking and the main meeting starts at 6:45pm

440 N. 32nd St , Phoenix , AZ 85008

@Kevin Ferris

Looks like you have some great advice already 

Depending on who the trustee is you may have to make the $10,000 directly to them to auction or if it is Auction.com you can easily call them for directions on what you need to bid. 

Expect that the property sale will be postponed and that you will have to watch it for a while until it actually goes for sale, if it does at all. 

We dont drive the property until the week of the sale as late as the day before that way you can actually see what you are getting if there is an angry owner or tenant inside that's when they will start doing damage. If the place is vacant then you can make sure no one broke in recently.

Feel free to DM me or call I can get a little extra info from Property radar

David  you are right the prices in Arizona compared to 90% of all homes in southern CA are very inexpensive on all levels. 

I go between San Diego, CA and AZ and the overall cost of land in our southern CA eyes affordable housing are abundant. If you are looking to house hack and rent out a portion of your duplex you must be very careful and aware what market rent is in the area the home is located, are comparable rents including utilities, etc.

To echo what crystal said she is right on point if you put a property under contract and no one will buy it it was not a deal. You should KNOW its a deal before putting it under contract. Ask your buyer why they would not buy it and they can quickly tell you. 

Manufactured homes are a different animal similar to stick built but if you don't know what your doing a waste of time. I would be happy to happy to discuss why your deals where unappealing I am finishing up 4 manufactured home land deals in Northern AZ now. With a little bit of knowledge they can be extremely profitable with low cost buy in. 

Please feel free to DM me.

If you have $40,000 cash and a lender on board 

Invest in 1 SFR at a time building your portfolio over time to 3-8 SFR.

but if your goal is to reach $500 a month in cash flow, I would suggest you redirect your energy into a multi family property. You can reach your cash flow goal quicker and leverage your all your costs to increase cash flow.  

Indev if i remember that name correctly is doing multi story development as we speak in little italy

Check out the local azreia meetings no better way to put your finger on the active investing pulse. I go to them in 2 states and across 6 cities.

What works is direct marketing, door knocking, MLS searches, networking, man hours, prospecting, and taking action. No simple answer but establish your criteria price, profit, location/s, time per project, level of rehab, property type, etc. Then you can determine what it takes to find your desired properties.

@Clary Roberts

Hello it sounds like you are on the right path and set up for success!

I am active in Arizona so if you find any deals DM me an I can send you my criteria.

As far as yellow letters go pretty much any mailer company online will be cheaper than those two, its just the amount of work as you will have to come up with your own message or have less graphics to choose from related to RE. It depends on your goal we use a VA to organize our leads in excel then send them to our mailing company who will print and mail our marketing.

Podio is a valuable resource and can be manipulated into a lead generating machine if maintained and setup correctly. definitely a learning curve but all database managers have a learning curve.

That sounds like a great plan! 

The issue is that getting $40,000 net return on a 5 plex in Phoenix would be difficult to do with a loan on the property as well as vacancies and maintenance. Variables like trash, water, electricity, market rent.

If you arelooking for cash flow you can probably expect closer to $6-15,000 a year net off of a EXTRNEMLY WELL PURCHASED 5 plex. You should start with the free literature BP has on investing.