Curious about whether the complex allows for rentals as I am considering purchasing a rental for cash through my IRA

Asked by wshaw12, Phoenix, AZ Sun Jun 10, 2012

Does this unit have a courtyard off the kitchen?

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This question is about this property: http://www.trulia.com/homes/Arizona/Phoenix/sold/910010-8225…

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Answers

11
Tricia Manara, Agent, Gilbert, AZ
Tue Jul 10, 2012
Good morning,
I have an excellent unit for sale in Scottsdale House within walking distance of Old Town Scottsdale and Fashion Square Mall. Guarded gate community, 1bed/1 bath that is listed for $74,000 and rents for between $850 and $1000/ month.Completely refurbished. Check out MLS # 4783931. Contact me with questions.
Tricia Manara
Licensed AZ Realtor
Licensed CA Broker
0 votes
Jason Rush, Other Pro, Phoenix, AZ
Fri Jun 15, 2012
Wshaw,

I am following up regarding the condo purchase you are considering through your IRA. Have you already facilitated the rollover of your funds? The reason I ask is we have a Retirement Specialist in our office to answer questions and facilitate the set-up of self directed retirement accounts.
If we can be of any assistance or guidance please feel free to contact.
http://www.AZIPX.com and http://www.ExpertRealtyAdvisors.com
Jason Rush, jason@RentalRenegade.com, jason@AzIPX.com
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Mon Jun 11, 2012
Please let me know if you would like a help with property management on your rental home. I have extensive recommendations from my clients on my profile and I would be happy to help you!
0 votes
Jennifer Fer…, Agent, Phoenix, AZ
Mon Jun 11, 2012
The self-directed IRA real estate investments are an awesome strategy! That's been my strategy since 2009. Let me know if you'd like help buying a rental property.
0 votes
Patty Caruso, Agent, Phoenix, AZ
Sun Jun 10, 2012
No - the courtyard is in the front of the home
0 votes
Jason Rush, Agent, Cincinnati, OH
Sun Jun 10, 2012
Wshaw12,

Excellent investment strategy to go self directed as we evaluate current per square foot prices versus the returns experienced through the
Web Reference:  http://www.AzIPX.com
0 votes
Patty Caruso, Agent, Phoenix, AZ
Sun Jun 10, 2012
Hi! I am unaware of any restrictions regarding rentals in this community as they are single family residences unlike Condo/Townhome communities where the HOA dictates the percentage of rental properties that are rented for financing availability purposes. If you have any additional questions, please don't hesitate to contact me.
0 votes
Adam Tarr PC, Agent, Scottsdale, AZ
Sun Jun 10, 2012
Excellent idea for investment for many people. Rentals area allowed, and there are a few in the community. There currently aren't any available for sale though. Regarding the layout, I believe the access to the patio is from the living/dining area, The patio is between the home and the parking spaces.

Other things to consider: Is this your first investment? Have you looked at the total expenses for this or other properties? Do you have a CAP rate in mind? Research is key to guard you investment as best as possible. I would be happy to discuss this further with you.
Good luck,
Adam
0 votes
Lorrie Feld,…, Agent, Scottsdale, AZ
Sun Jun 10, 2012
Great idea to purchase an investment property with a self-directed iRA. I did the same thing last year and I'm so glad the money was put into real estate instead of the stock market. Good luck and contact me if you need any help.
Lorrie
0 votes
Stan Batters…, Agent, Phoenix, AZ
Sun Jun 10, 2012
In the exprired listing it said a tenent was in there.Assuming this is still true I would say yes to a rentor.
Where did you see it for $69,900
0 votes
Jose Dias, Agent, Scottsdale, AZ
Sun Jun 10, 2012
Hi,

The complex does allow rentals and there are quite a few units currently rented there. The listing from Trulia is an old listing. The unit is not available at the moment.

There is only one unit currently listed for sale (#11) and it is in Pending status, which means that there is a contract on the unit.

Hope this helps.

Good luck!

Jose Dias
623-418-5700
Jose@MyFirstHouseAZ.com
0 votes
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