All Forum Posts by: Noah Corwick
Noah Corwick has started 7 posts and replied 234 times.
Post: Land Build/Flip Opportunity!
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hi all!
I am representing a land listing that I believe has a BP investor written all over it.
The 1.22 acre parcel is in the vastly expanding town of Whittmann, AZ (15 minutes west of Surprise).
The lot comes fully equipped with electricity and water (a shared well, which is the norm for this area) already in place.
Also included is submitted plans for a stunning 3,000 sqft home w/ 4 bedrooms and 3 full bathrooms, which are already with the city and are 95% through the permit process.
Investors: Similar homes in comp range have sold in the area for between $600,000-$800,000!
Let me know if you would like to explore this opportunity further!
Post: Sue for specific performance
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hi Keegan. I am very sorry to hear about this. How frustrating!
If your agent hasn't done so, I would have them inform their designated broker immediately. Assuming everything has properly played out like it should throughout the transaction and AAR contracts have been in place, the DB might be able to talk to the selling agent's DB and inform them of the situation so that it's hopefully rectified. A lot of time when legal action is threatened and you have a winning case, people shape up. Assuming you have an agent, your agent's brokerage might also have legal council on staff/on retainer and can be called upon potentially as well.
If you were unrepresented, I would contact the seller's DB ASAP.
You should also be able to get your earnest deposit back as well.
What reason did the Selling Agent give for backing out? You as the buyer hold all the backing out power that late in the game, so I am curious what happened.
Post: New to the BP pockets community.
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hello Melanie! Welcome to the wonderful world of the BP forums.
Post: Construction Loan lender in Phoenix for small MFU
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hi Sendhil!
I have a lender that I'd recommend for this project.
I'll shoot you a DM with his info.
Post: New to Real Estate Investing, but ready to learn! & buy a out of state rental!
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hey Dennis!
Nice work on the ADU. Sounds like it's rewarding you nicely.
As far as investing in AZ specifically, I have a few questions.
-Are you singling out Buckeye specifically? If so, is it based on your co worker's success?
-Based on your success with ADUs, are you wanting to replicate that in your next investment?
Post: Why is real estate cheaper in Sun City, Az than other counties
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
A lot of it is due to the notion that Sun City is known as a retiree city with a ton of +55 communities and homes that are smaller and not as nice as other areas in Maricopa County. The feeling that because it's so one dimensional, it's future appreciation is tapped.
We'll see in a few years if that changes due to the success of Surprise, which is right next door.
Post: Hello, I am new :)
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Hi Jeremiah.
Way to take the first step in real estate investing by putting it out into the world.
I am an investor and agent myself in PHX as well and would love to connect with you!
Post: Early Termination of Lease Clause
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Thanks for sharing this Josh. That's a great clause to have included in your agreements and a wonderful positive perspective on the scenario as a whole.
How far into their lease terms did they end up utilizing this?
Post: Metro Phoenix eviction filings soared to a new record in October
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Interesting insight to share. Thanks Mike!
Post: New construction with lender incentives?
- Realtor
- Phoenix, AZ
- Posts 238
- Votes 108
Quote from @Kevin Lee:
Quote from @Noah Corwick:
Quote from @Kevin Lee:
Quote from @Noah Corwick:
Hi Kevin!
In my experience, a lot of new builds here in the Valley offer a 2-1/3-2-1 buy downs instead of a fixed lower rate. I would confirm with the developer's sales team on how the terms break down. Also there are also annoying hidden/inflated fees when working with a developer's preferred lender that are "fun" to work through.
Also make sure you work with a developer who is trusted, well regarded, and has great reviews. I know it's a "no duh" thing to point out, but new builds can be troublesome construction wise sometimes.
The area will be key as well, as there are a lot of new builds in AZ that are in locations that will take time to appreciate. It certainly can be worth the wait, but you have to be able to mentally and financially budget for this and plan accordingly.
Overall I believe it's definitely a route worth with exploring, but obviously will be reliant on how the numbers look.
Thank you! Makes a lot of sense. Would you happen to know anything about Lennar and the San Tan Valley / Queen Creek?
You're welcome Kevin. Lennar is not regarded very well.
Here are some reviews I found online as examples: https://www.consumeraffairs.com/homeowners/lennar-homes.html...
A lot of these are from customers outside of AZ, but the experiences are likely to follow regardless of state.
Thanks so much for your input. This is what I gathered as well but one realtor I was speaking to said they use them because they are reputable in that area. Thank you again!
You're welcome! I am a Realtor & Investor myself and am here if you would like to continue our conversation.