All Forum Posts by: Ryan Smith

Thank you very much for your insight Jason! Brandon, how long does the process take? Could it be done within the a 30-45 day escrow?

I have not received an answer regarding that. I was going to call them tomorrow to ask that question. I am going to have the inspector hopefully tell me how up to code it is and then see how difficult it would be difficult to permit it.

Making an offer on a property with an unpermitted addition. The addition is separate from the house and is similar to a pool house in the back yard. Built very solid. I am going to be noting the square footage addition in the offer and will use it in the negotiation. The property is in Tempe, AZ. Does anyone have any experience in getting the sellers to permit the addition? Is this too long of a process? Will the mortgage company have an issue with the addition? They currently have mortgages on the property which was bought with the unpermitted addition, so I would assume it would not be an issue now but maybe I am wrong. Any thoughts would be appreciated.

link to loopnet lead: http://www.loopnet.com/Listing/19558405/4512-North...

• 8.4 % Cap Rate
• Rents below market value
• 100% Occupied with a waiting list
• Completely converted to individual electricity
• Tenant profile has been completely upgraded
• Beautiful landscaping

link to loopnet lead:  http://www.loopnet.com/Listing/19651848/4221-4227-N-24th-St-Phoenix-AZ/

• 31 Units
• Solid Block Construction
• Beautiful Courtyard Layout
• Biltmore Adjacent
• Located just south of the "Camelback Corridor", home of over 30,000 Professionals
• Frontage on major arterial (24th St.)

please send info! [email protected] 

Appreciate it guys.

@Jack Butala I will be in contact with you, Not necessarily a rural land deal, but I have been very aggressive in searching for redevelopment and underutilized land in the Phoenix area. I can't think of anything more gratifying than driving by a building you redeveloped or built on a piece of land that used to be a dump or something you would not even look twice at. I appreciate the reply!

Hows it going guys, new member from Phoenix Arizona. My name is Ryan Smith and I have been in the real estate business for just under 2 years now. Spent the first year doing analysis and underwriting for a multifamily team in Phoenix. I am now a junior advisor at Sperry Van Ness in Phoenix and work with a strong multifamily team which works on properties in the Phoenix and Tucson markets. I personally have some very big goals as far as personal investments go over the next 5-10 years. I am planning on slowly building my multifamily portfolio starting with a 2-5 unit building this year, and building up adding one to two buildings a year and letting it snowball from there. I currently am a religious listener of the podcast and look forward to becoming an active member on the site.