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 Phoenix : Real Estate Advice

  • All2K
  • Local Info160
  • Home Buying944
  • Home Selling108
  • Market Conditions70

Activity 29
Mon Nov 6, 2017
Karen Peyton answered:
The Phoenix area rental market is running at a brisk pace with business and employment growth surging. What I suggest to you is the same thing I tell all of my investors, and that is to "follow the money" and not relegate yourself to one builder or specific city in the Phoenix metro area. In this, it's about getting and having the information to make a financial decision. Contact me if I can be of assistance. I am versed with 1031-Tax Deferred Exchanges. ... more
0 votes 2 answers Share Flag
Thu Sep 14, 2017
Craig2345 asked:
I have a single family home in Phoenix. I got it for someone to rent and they've never paid and I need to evict. I think the property needs various repairs - I've never been to it.

I'm…
0 votes 0 Answers Share Flag
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
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
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
Sat Aug 27, 2016
Mmartinez40 asked:
Thu Apr 7, 2016
USMortgageRanger answered:
See https://reo.wellsfargo.com/


I would be delighted to assist you in making your dream a reality and should you desire my assistance you can contact me via my profile information. ... more
0 votes 1 answer Share Flag
Sun Apr 19, 2015
Rhino512 asked:
How do I update the pictures of my property ?
I own this property. the picture shown on your website is not up to date.
I have already updated the verbage for the property - like number…
0 votes 0 Answers Share Flag
Thu Feb 5, 2015
Karen Peyton answered:
Thu Jan 15, 2015
The Graveline Group answered:
Oh boy. Where to begin with Short Sales. They're very tough. We've had clients in love with houses, waiting for months, only to hear back with a NO from the bank.. If you have time and no emotional attachment, go for it, but just know that they don't all go through and they can be a HUGE headache. ... more
0 votes 6 answers Share Flag
Tue Jun 24, 2014
Joseph Domino answered:
The best person to answer your question is your tax consultant. He is absolutely correct that depreciation "might" hamper your profits. But only someone that has intimate knowledge of your financial situation can tell you for sure. He also should be discussing strategies to minimize your tax liability such as 1031 exchanges. The IRS code has plenty of loopholes to minimize tax liability if plan ahead.

I always am mystified by people who make income, profit, earnings and then complain about having to pay taxes. Be thankful you are making money. It could be worse, you could be in losing money.
... more
0 votes 2 answers Share Flag
Tue Jun 3, 2014
Jennie Miller PLLC answered:
You have to decide what is your strategy first--Are you planning to buy and use the property as a source of income or are you looking for the potential for appreciation? Once you have decided what your goal is, then different areas will fit the mold that you have laid out. ... more
0 votes 6 answers Share Flag
Tue Apr 1, 2014
Josh Barnett answered:
Wed Mar 12, 2014
ukieone answered:
Hello,
Since you're in the real estate business please tell me how long can I keep a security deposit after the tenant moves out?
0 votes 8 answers Share Flag
Thu Feb 20, 2014
janeaws2266 answered:
I have a property that would be perfect for your first adventure in flipping houses. It is in Prescott,Az and is on the most prestigious historical street in Prescott, N. Mt Vernon. Please call me at 619-562-6850 ... more
0 votes 15 answers Share Flag
Mon Feb 3, 2014
Murphy Team answered:
It may be relatively easy to investigate the monthly rental price of garage parking spaces in the area. In our area that would be around $110.month. There would be an added value to the garage space if it is adjacent to the apartment. ... more
0 votes 5 answers Share Flag
Sat Dec 28, 2013
Jean-Leon Magnotto answered:
What exactly is your question ?
0 votes 4 answers Share Flag
Sat Oct 19, 2013
James.k.cichello answered:
Tony is correct.

Current standards for 2-4 unit investment property requires 25% down.

You can go hard money with less down potentially, but the rate will kill you. I had multiple brokers tell me I could go 20% down initially, only to come back telling me they couldn't. I took my business elsewhere and luckily all has worked out.

Hope this helps.
... more
0 votes 8 answers Share Flag
Tue Sep 3, 2013
Deborah Boykin answered:
investor-centric, -----fix-ups, multi-family, single family, options, commercial, empty lots--love this stuff
0 votes 4 answers Share Flag
1 2
Search Advice
Search

Followers

776