All Forum Posts by: Garrick Oconnell

I was able to get my $ back working with my tenant jump through hoops with his bank. I was very lucky it was a very helpful tenant Erent did NOTHING to help and if they are still in business they should close there doors. I had 10 properties setup and luckily only 1 property was affected and I cancelled all the other properties as soon as I was aware. (NO THANKS TO ERENT WHO NOTIFIED PEOPLE A WEEK OR MORE AFTER THE ISSUE AND MONEY WAS GONE) 

I have not heard from from erentpayment since they sent out a few boiler plate emails to everyone maybe a year ago, I recovered my money through cancelling payment through the bank.

Lesson learned be very careful with online rental payments focus on using companies that control there ACH transfers or are accountable. 

It seems to be that way, I have a decent amount of rental and flip properties so when my main contractor can spare a guy for a small project he will usually only when we have a full rehab going on another project. I have a couple $45/ hr handymen I keep on Rolodex for fast fixes that cant wait. I prefer to use my $25/hr jack of all trades who is reliable when he is not busy but hard to pin down when he has plenty of work. I have found you just need to keep collecting trades numbers. 

@Jay Truong You are definitely going to want to consult a local plumber or contractor most of the cost is the labor regardless of material choice. We do have vary hard water in Tempe so they will recommend the material to code.  

Solar would not be worth it if you are planning to sell the property.

separately metering the property would make sense if you plan on passing the utility costs on to the tenants and that is the norm for the property area and rental comps. 

When you run rental comps on multi family check for

-Comps offering lower security deposits

-what utilities are generally included in the area

-if comps are offering in unit laundry (this can warrant up to $100 more rent per month)

-If they comps are offering onsite or no laundry

-How long ads are up to gauge vacancy times

Most 4 plexes have combined water sewer, trash, and separate meter but always confirm they are separately metered. Check on the condition of all HVAC units. 

1-3 days work: $45-$55 per hour for a good handyman in Phoenix and valley, inspection required.

Licensed contractors

I would trust reef builders or Arizona contracting to do the job - They help many investors in Arizona valley. I am not sure if you would have enough work for them to take your job. 

ASREB there are several locations in the valley that you can go to get your license hours fulfilled or anything related with getting your RE license in the state of AZ. 

I think real estate would be a great part time job while going to college, I hang my license at Homesmart for the low costs since I mainly focus on investing. I would suggest hanging your license with a brokerage that offers more hands on training when you first start out its worth it. Maybe even joining a team if you can find one looking for a part timer. 

@Luis Aguilar It is a great resource for AZ landlords and property owners. I would highly recommend that group if you have eviction issues as well. I just started co hosting the AZREIA Buy and Hold sub group and denise holiday comes out once a year to share on hot topics for landlords in AZ. 

google doctor evictor then look under "Documents" they offer free contracts to AZ landlords.

I am not sure what you are looking at but it is possible to BRRR in Phoenix. You are going to want to target off market properties.

The market is up right now and any property sub $250k that is rehabbed is sold in days, which means investors are snatching up the lower cost un-repaired properties and flipping them quickly. 

I would guess you are looking at loans that are 3% down which would make it hard to cash flow. Keep looking they are out there but you will need to work hard to find them and faster to close on one.