These properties will almost always need to be cash or hard money loans. Think about lending to each other, it can be easier to do a rate and term refinance than a cash out.
I have multiple property management companies ready to take care of your property.
Most of these deals to not include a Realtor commission, I give you the real price, I will not inflate prices on you. Please add 3% to price.
1. 12929 w valentine, El Mirage - click here to see a previous listing
4 bedroom 3 bathroom 2124sf, built in 2002.
This property was a short sale, it went to auction and was picked up way under value. Amount owed was $236,000, this is available for $84,550! This property was listed yesterday for $130k, this property comps at $125k- $130k. Listings says it is in good shape.
This would be a cash or hard money sale. If we could get an appraisal of $130k and could get a 70% ltv loan is would be $91,000. Or is you did a hard money loan for $85K. Lets assume $91k.
$91,000 Loan amount
$490 Principal and interest (30 year 5%)
$160 Approximate tax and insurance
$100 Property management
$750 total payment
$1,000- $1,100 Approximate rent
$250 - $350 Monthly cashflow
Approx: $39,000 equity
2. 1809 s 83rd dr, Tolleson AZ 85353 - Click here for previous listing
4 bedroom 3 bathroom 2279sf
Previous listing said: GORGEOUS Greystone loaded w/upgrades. Impressive entry w/Dual Staircase & wood banister. Decorative Windows in Liv/Dining Rm. Neutral Ceramic tile in Kitchen,walkways & Baths. Super Kitchen w/angled island,built-in desk,& rich honey oak cabinets. Grand Master Suite has Garden Tub w/marble surround,glass shower & dbl sinks.Private bed & full bath down.HUGE 18x13 4th Bedrm w/Dbl Closets. Cov. Patio w/stucco columns. Pool sized lot.Close to I-10 & Loop 101. IMPRESSIVE!
Price: $77,550
Rents: $1,000- $1,100
Comps: $110k
3. 4 plex GALORE! - Click here for a list
This is a list of all available 4 plexes in Phoenix, Chandler, and Mesa under $125K. Depending on the area, plexes in the Phoenix area rent for:
1 bedroom: $400- $550
2 bedroom: $500- $700
3 bedroom: $600- $800
So even if you pay $125,000 for a nice four plex, here is what your investment could look like.
$125,000 Purchase price
-$25,000 20% down
$100,000 New loan
$535 Principal and interest (30 year fixed, 5% interest)
$200 Est. tax and insurance
$200 Property management
$100 Utilities (estimate)
$1,035 Total payment
$2,200 Income - 4 - 2 bedroom units renting at $550/mo
$1,165 Monthly cashflow
$13,980 Yearly cashflow
56% ROI
No comments:
Post a Comment