All Forum Posts by: Susan Thelen

Here in AZ you can do things like floors, baseboards & cabinets yourself. But when it comes to electrical and plumbing you must hire a licensed professional. 

Not that this helps now but we collect 1st & last months rent up front plus a security deposit. Technically in AZ the renter can ask for last months rent back after they move in but most do not. 

Don't pay anyone to do it. I did it myself in AZ through  AZ Corporation Commission here in AZ. It looks like in Vermont & Wyoming you would do it through the Secretary of State: 

Vermont: https://sos.vermont.gov/corporations/registration/

Wyoming: https://sos.wyo.gov/Business/StartABusiness.aspx

If they continue to grow then no. But I believe there are things you can do to stop the roots from growing. Best of luck! 

I have a client looking to partner with a contractor to build 6 SFH's. He expects to put about $4.5M into the project and the homes would sell for around $1.2M. He is wondering what percentage of the proceeds would be fair to pay the contractor? He would not be paying the contractor any salary and would pay him each time a home is sold.

@Gladys Melendez it would depend on how much you have to put into a rehab vs a new build. I think it would be easier to to buy a new build then take equity out after a year or so to purchase your another rental. Builders here in AZ are offering a lot of incentives right now. Also if you are not living in the state where the rehab is being done then it will be pretty hard to manage (but it is possible as long as you have a good team of people). For an FHA loan yes you would need to be employed in the state where you are purchasing or have intent to start a job there. I have a lender I work with here in AZ if you would like their info.

Hi Gladys,

I have helped quite a few investors in the AZ area. They use different methods to purchase. One takes equity out one of his properties and purchases the next. Another one I work with uses a HELOC. Another one uses hard money lenders, then refinances after a year or so. You have to figure out what works for you. If you can afford a multifamily property I would recommend that as your ROI most likely will be more than a SFH. Best of luck!

~Susan

North Phoenix has Mayo Clinic. There are a lot of homes around there with no HOA, I grew up in that part of the valley. I live in Mesa now and there are a lot of homes with no HOA's but it is not near any hospital. Best of luck.

Wow! This is such a great idea and opportunity for you. Best of luck!

Welcome to BP! There are a lot of great resources on here.