Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Investment Properties in Arizona : Real Estate Advice

  • All492
  • Local Info27
  • Home Buying283
  • Home Selling36
  • Market Conditions11

Activity 95
Thu Aug 17, 2017
Me.cptow asked:
Fri Aug 4, 2017
Kathy Burgreen answered:
You need to work with a realtor specializing in commercial real estate. Few realtors do this. The majority only work with residential real estate. Call some of the local brokerages and ask to speak with the Office Manager / Broker in Charge. Ask them to connect you with a realtor that specializes in commercial real estate. ... more
0 votes 1 answer Share Flag
Sat Apr 8, 2017
Joseph Domino answered:
It is very likely that a COA may have restrictions on rentals. Even though the City of Scottsdale does allow for them you will have to check with the Condo Association on their latest rules. CC&Rs are public record so that is the first place I would look, but you cannot go wrong speaking with the property manager. They may know of any pending actions that have not been adopted. You do not want to buy and find out 2 weeks after closing that the rules have changed. ... more
0 votes 1 answer Share Flag
Wed Mar 22, 2017
Angelica P answered:
Hi,

I have emailed you regarding this.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Thu Mar 16, 2017
answered:
Hello, I'm a mortgage professional.

We have programs that require only a 15% down payment.

There are deductions such as mainatenance, the mortgage etc. that will reduce the rental income you report on your taxes.

If you would like help with this or have any questions you are welcome to get in touch with me.
... more
0 votes 1 answer Share Flag
Wed Jan 4, 2017
answered:
1 - 4 units are residential lending
5 + units are commercial lending

Commercial loans are generally at a greater cost and interest rate.
Residential loans are less expensive.


The income of the property can be used in a residential loan.
The income of the property is usually the only thing used in a commercial lending.

If your husband co-signs that means he is on the loan and on title. Basically he is a co-borrower or a joint borrower.
... more
0 votes 3 answers Share Flag
Tue Dec 27, 2016
Karen Peyton answered:
A single family residence usually sees better appreciation over the long haul, however due to costs and financial exposure for maintenance, many prefer a condo - no less than you described with 2 bedrooms and 2 baths. ... more
0 votes 1 answer Share Flag
Sun Dec 25, 2016
Kathy Burgreen answered:
Unfortunately realtors / agents who reply to questions will never tell you the truth. I'm a former realtor and yes agents do lie to buyers. You need to understand that realtors rely on their MLS systems to search for homes - not real estate websites like Zillow and Trulia. Zillow and Trulia allow owners to list homes for sale or rent by owner (no agents involved). Also there are plenty of listings for sale or rent posted by professionals that will not appear in the local MLS. Because all these listings are not in the MLS system, agents are not aware these homes are for sale or rent. However, these agents pay websites like Zillow and Trulia monthly fees to advertise themselves so they can get people like you to call them.

Briefly when you call about a home for sale or rent, that agent will quickly check the MLS to see the listing. However, even if you saw it on Zillow or Trulia, if that listing is not in the MLS, that agent will lie to you and tell you "it's not available", "it was sold or rented", "there is a contract on that home" and plenty of other excuses. The reason is simple: the agent you called is too lazy to look it up online to see the listing. Agents only want to deal with listings in the MLS system. I know this is totally unfair and leaves buyers like you wondering why there are listings for sale or rent and having agents lie about it.

Finally, there is the issue of getting paid. If listings are posted for sale by owner, your agent needs to know who is going to pay them. They can try asking the seller to sign a document that the seller will pay the commission, however, not all sellers will agree to this. If the seller refuses to pay, then you, the buyer will need to pay your agent the commission. When listings are posted in the MLS, there is a contract from the seller that the seller will pay the commission.

Hope this answers your question. By the way when I was a realtor, I did look up listings on line to find out what my buyers were talking about.
... more
0 votes 2 answers Share Flag
Wed Dec 14, 2016
Karen Peyton answered:
Here is a link to the Arizona Registrar of Contractor search page. To get an answer to your question, you should probably speak with a "commercial general contractor" and can find one using the options.
Make sure you have some specific questions before calling.

Best of luck!

http://www.azroc.gov/roc/contractorsearch.html
... more
0 votes 1 answer Share Flag
Wed Dec 14, 2016
Karen Peyton answered:
If you use the "Find an Agent" tab at the top of the page, you will find 8 agents who work in the Sunsites area. You have not asked a question, but obviously have one.

Good luck!
0 votes 1 answer Share Flag
Wed Nov 30, 2016
Joy Robinson answered:
$154,777
https://www.coldwellbankerhomes.com/az/mesa/6409-e-decatur-street/pid_15102806/
0 votes 1 answer Share Flag
Thu Nov 10, 2016
Karen Peyton answered:
Don't know if you're a buyer or seller, but the best bet for financing assuming reasonable terms is Seller Financing. Other than that, you're looking at hard money - but first I'd try a small bank which may offer a portfolio loan, and yes at the higher end of the percentage "down" you stated, with an appraisal contingency.

Best of luck!
... more
0 votes 1 answer Share Flag
Sun Oct 23, 2016
Susie Kay answered:
I would suggest contacting an attorney.
0 votes 1 answer Share Flag
Mon Sep 19, 2016
Jim Walker answered:
Those who say you can are right.
Did the person who erroneously said you can't buy a foreclosure give a reason?
0 votes 2 answers Share Flag
Sat Aug 27, 2016
Mmartinez40 asked:
Mon Aug 22, 2016
Steve Bernstein answered:
There are mortgage loans available for buying an AZ Home 1 Day After Bankruptcy or Foreclosure. The problem with these loans is the interest rates, closing costs & down payments are much higher than conventional or government home loans.

But, some homebuyers have the cash and the income needed to procure loan approval for an alternative credit mortgage, and they choose to buy a home now versus waiting 2 to 4 years, post their bankruptcy discharge. This is more common when real estate values are increasing in AZ. Interestingly, the increased equity from appreciation, can often offsets the higher cost of subprime loans.

For additional mortgage or credit questions in az, contact Steve Bernstein at www.azcentralmortgage.com
... more
0 votes 6 answers Share Flag
Thu Aug 18, 2016
Karen Peyton answered:
There's no pat answer to this question because there are so many variables, most notably price paid, and "ability" to rent - which has nothing to do with actual monies received. If you have no experience (it sounds you don't) you will also need a property manager further eroding profit.

You need pencil and paper to make a decision. Several pencils and a notebook.

Good luck!
... more
0 votes 1 answer Share Flag
1 2 3 4 5
Search Advice
Search

Followers

127