All Forum Posts by: Susan Thelen

4 bedrooms are more lucrative than 1-3. The market is over saturated with 1-3 bedrooms. There needs to be something unique about your home (think Instagramable, bocce ball, putting green, themed, etc.) Also high end, larger homes are more lucrative than your basic home. If a home has multiple structures (think 2 separate living quarters) this can be great as well. For example if  grandparents are traveling with their kids and grandkids and they need some downtime, if you have a whole separate structure on the property, they can go recuperate for a few hours by themselves and then join the rest of the family later on. I have a client that purchased a multiple structure home in Tempe last year and his revenue for Jan-March was $45K.

Congrats!

I would fix and rent for now. If interest rates come down and you are able to make a profit then sell it after a few years or so. It is a buyers market and home prices are continually declining. If you would like me to do some comps for you I am happy to. What you would be able to sell it for today will most likely  go down 6 months from now. 

Here is Phoenix it has slowed down tremendously. Sellers are unrealistic about the price they can get for their home. Buyers have are getting a lot of concessions. 

I recently heard that Scottsdale is going to be putting ordinances in place for AirBnB's. What do you know about this?

Hi Ryan, we bought the property in Jan 2022 and sold it in June 2022. The only way I would personally do a flip right now is if I found a great deal (way below mkt value) and/or paid all cash. My team leader who has been doing real estate in AZ for 22 years said that he would not do a flip right now. Let me know if you have any more questions.

Hi Peter, I know of someone. I sent you a message. 

Investment Info:

Single-family residence fix & flip investment in Mount Laurel.

Purchase price: $307,000
Cash invested: $70,000
Sale price: $430,000

This was a SFH fix and flip my husband and I did with my best friend and her husband. We were all a little nervous to go in on this deal since we are all friends. Everything worked out well. This was a single family home in Apache Junction, AZ. We purchased this deal from a wholesaler who had already reduced the price a few times.

How did you find this deal and how did you negotiate it?

One of our wholesalers sent it to us. We paid asking price since we knew we could get the numbers to work.

How did you finance this deal?

Hard money loan.

How did you add value to the deal?

We put in new flooring, cabinets, painted, added landscaping, glazed the tubs and showers and put in new fixtures.

Lessons learned? Challenges?

This home was surrounded by trailer parks and not in a great neighborhood. We had crack heads visit us during the open house. When the counter installer installed the countertops they cracked it. Next time we will make sure to be there for all installations.
It also had an above ground pool. These are hard to take care of and we could not find a pool company to do it. We finally did find someone and he did a horrible job. We ended up draining the pool during the remodel.

!!! SEEKING CASH OFFERS !!!

5561 E. Alpine Ave. Mesa, AZ 85206

Mobile Home

$162,500 - Currently on MLS for $199,000

1,256 SQ FT ~ 2B/1.5B

• Great investment opportunity
• Land is owned, no land lease

Link to Photos:

https://drive.google.com/drive/folders/1-0NiTmW15UdLpJiPITV000_i4CA29ZAo?usp=sharing

GREAT INVESTMENT OPPORTUNITY!!! Property being sold as is, CASH ONLY. Mobile home, 2 bed/1.5 bath, family room, dining area and office area. Own the land under your home. No high land payment. No HOA. Large patio with an additional storage shed attached.

5561 E. Alpine Ave.

Mesa, AZ 85206

$199,000

Owner will look at all offers.