Flip tip - Appliances

https://youtu.be/cvlBQ_V0wOI

Flip tip - 3 tips when buying appliances

When we are flipping homes we are looking for consistency. One of our consistent items has been our appliances. We use the same builder grade appliances all of our properties up to $300k. We will upgrade for higher priced properties since they are generally pickier buyers. Here are 3 tips to keep in mind when choosing your appliacnces. 

1. Use stainless steel: We use stainless steel appliances because it is very popular and is a big bang for the buck. We always want a few WOW!! factors with our properties. People buy based on emotions, so the more warm fuzzies they have while viewing our properties the better. 

2. Buy builder grade appliances at your local appliance wholesaler.
We use Frigidaire or GE appliances, depending on what is currently on sale. We receive investor prices at a local appliance store which saves us a little bit each purchase.

3. Skip the refrigerator.
There is alays differing opinions with this one. Many people believe in providing a refrigerator. I've always gotten away without putting them in my flips. Buyers won't be impressed with a cheap entry level refrigerator, and a good double door refrigerator is $1500 - $2,000. When you are flippin 20+ homes per year that really adds up. 
We always put in matching microwave, dishwasher, and stove combos. This generally runs around $1,200 installed and with all the installation kits. 

We found a system that works and we stick with it. Appliances is now one item we don't have to think about. We just order them and move on to the next issue. The more systems and processes you can incorporate into your business the more time you will have to grow and do more deals. 


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COMING SOON!!! Chandler 3 bedroom home - under $160k

160 W Saragosa, Chandler AZ 85225

Coming to market November 28th, 2016. BP Industries has a brand new home for sale in Chandler Arizona. This 3 bedroom 1 bathroom home has been remodeled and is move in ready.

We have amazing loan programs so you can buy this home for LOW to NO MONEY DOWN! Complete our quick application to see if you qualify.
https://docs.google.com/forms/d/e/1FAIpQLSdFT6PP19C933aaYrEwrZDEpWjgCYSxIqOgmfw8yYnTE_TDxg/viewform


Kris Ontiveros
US Preferred Realty
602-292-5747
krisonti@gmail.com

Finished Product - 2335 E Burgess Phoenix AZ 85042

Wholesale Duplex for sale- Mesa Arizona - $85k

Wholesale Duplex for sale- Mesa Arizona - $85k

Property walk thru - South Phoenix fire damage

In this video Kris walks through our fire damaged property in South Phoenix. At this point we have gutted the property, removed all drywall, old electric, old ducts, and we are down to the studs. We've replaced the burned trusses and will be putting up the new wood for the roof.
Once we have the trusses and framing in place we will begin with the rough systems. We will be putting in all new duct work, electric wiring (including cable and speaker wire), and plumbing.
Follow us as we transform this burned mess into a beautiful home that will be the nicest home on the block.


Follow us on Instagram @azhomerenovator or @azflipguys and on Facebook @azflipguys and @investorsedgeaz.

Property walk thru - South Phoenix fire damage

In this video Kris walks through our fire damaged property in South Phoenix. At this point we have gutted the property, removed all drywall, old electric, old ducts, and we are down to the studs. We've replaced the burned trusses and will be putting up the new wood for the roof.
Once we have the trusses and framing in place we will begin with the rough systems. We will be putting in all new duct work, electric wiring (including cable and speaker wire), and plumbing.
Follow us as we transform this burned mess into a beautiful home that will be the nicest home on the block.


Follow us on Instagram @azhomerenovator or @azflipguys and on Facebook @azflipguys and @investorsedgeaz.

Flip tip - know what termites look like.

My home inspector always told me that there are 2 types of homes in Arizona, homes with termites, and homes that are GOING TO have termites! 
In Arizona we have a lot of homeowners that are originally from somewhere else. In a lot of parts of the country termites can cause a lot of damage. In Arizona, the can certainly cause damage but they are not as severe as other states. That said, it's important to know what termites look like and how to take care of the problem. 
Termites dig into wood and other building materials. They tunnel in and create tubes that are visible from the outside. In this video I show you what an active termite tube looks like. 
If you see termite tubes don't delay, contact us today and we can refer our top pest control companies to come out and take care of your problem. 

Contact us today.

602-292-5747 or krisonti@gmail.com

Flip tip - overcoming challenges

In this business we come across challenges on a daily basis. It's important to keep a calm head, break down the issue, run it by a few people, and come up with the best solution.
In this video we discuss a situation I had when my architect didn't have the right calculations, so I came up with a solution that did cost extra money, but ended up being an asset.

We have lots of free tips for real estate investors and flippers.  Follow us on Instagram @azflipguys or at www.Facebookcom/azflipguys


Kris Ontiveros
602-292-5747
krisonti@gmail.com

AirBnB tips

In this video I describe how I acquired an AirBnB rental for only $1200 down! You can create cashflow with this incredible system. You don't even need to be a homeowner to take advantage.

We have lots of free tips for real estate investors and flippers.

Follow us on Instagram @azflipguys or at www.Facebookcom/azflipguys

Finding hidden gem's - Antique Stove

The $30,000 land deal

This is a great example of making the most out of a small deal. Two local wholesalers brought this deal to my partner BP. They had it locked up for $8,000 and needed to close quickly. So they bought the property and immediately listed it for sale. After checking the comparables, I believed the lots were worth around $20 to $25k each. We listed them separately for $25k or both for $45k.
I received a call from a local investor who found my listings on Zillow. He is looking to place his cash into Avondale land. He just wants to hold onto the lots for the next 10 years or so. We negotiated and settled on $40k for both lots. It is an all cash offer with a 2 week close. So they will be making over 30k on a cheap double lot.
I hope this video motivates you to get out there and find those deals. We team up with beginner investors so they know they can make those offers and they have legit buyers backing them up. Bring us your deals and we will fund, flip, and split the profits.

www.facebook.com/azflipguys
http://phxcashflow.blogspot.com/

Flip tip - How to estimate repairs in under 10 minutes

How to estimate repairs in under 10 minutes

By: Kris Ontiveros

Real estate investing is a math equation. To come up with the correct outcome you need to have accurate numbers. The two most vital numbers are the ARV (after repair value), this is home much the home is worth once it is remodeled. This is usually going to be a top of the market value. The second of the two vital numbers is repairs, how much it will cost to remodel the property.

In our current real estate landscape, there is a lot of competition and the good deals go quickly. As a Real estate investor you have to make quick decisions when you come across a new deal. It is vital to be able to give a seller or wholesaler a quick yes or no decision when they bring you a deal.

We created a process to be able to quickly and accurately estimate repairs. We use several factors to quickly and safely estimate repairs. With this system we can walk through a property and within 10 minutes have a good idea what it will cost to remodel a property. We can take that information and the ARV (after repair value) to help create your offer.

Be aware, every market is different, these numbers represent single family homes, under $200,000, in the Phoenix, Arizona area in 2016. Markets are constantly changing, you will need to adjust this formula to match your particular market.

The first thing we do is find out how much a basic cosmetic remodel would cost. In an average neighborhood in my market, I estimate $10/sf. So an average 1500sf house would cost around $15,000.

A basic cosmetic remodel can include flooring, paint, lights, fans, faucets, light landscaping, and a few miscellaneous items.  

Next we add in all other major items like:

$4,000 for a new kitchen

$3,000 for a new bathroom

$5,000 for new shingles

$3,500 for a new AC unit

Anything on top of the cosmetic items need to be accounted for. Major remodels should be over estimated to make sure you don’t miss anything.

Example property:

1500sf 3 bedroom, 2 bathroom home. Needs a cosmetic remodel plus a kitchen, 2 bathrooms, and a new AC.

1,500sf x $10 = $15,000

Kitchen = $4,000

2 bathrooms = $5,000

HVAC = $3,500

Total estimate = $27,500

This is not going to be your final budget. This will give you a good idea of what the rehab will cost. Once you have this number you can plug it into your formula and make a solid offer on the property. Once you have it locked up you can get your contractor out to give you hard numbers. In this business you have to take calculated risks, estimating repairs should be one of your more reliable and consistent costs. It's important to get very good at estimating repairs so you can take your business to the next level.

Kris Ontiveros - Real Estate Investor - krisonti@gmail.com

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Flip tip - Don't trust your contractor!

By: Kris Ontiveros

In this video we are discussing a huge pet peeve of mine, cheap contractors! When you give 100% control to your contractor things can go wrong. In this scenario my contractor went cheap on me and didn't order a drawer bank for the master bathroom vanity. Now don't get me wrong, this is 100% my fault because I didn't have a detailed conversation with my contractor. Instead I was vague and let him run with it. Now the cabinets have granite and sinks installed so it's too late to add the drawers. Next time I'll be more specific and tell him exactly what I want, I can even provide him with a SKU or item number for him to order.

We have lots of free tips for real estate investors and flippers.  Instagram @azflipguys or  www.Facebookcom/azflipguys

Fix and flip tip - Master bedroom upgrades

By: Kris Ontiveros

In this video we are discussing some upgrades we like to add to our master bedrooms. This is a very important room since it's the room the decision makers will be spending a lot of their time in. It's important to have a large master bedroom. The larger the better but we like to have a minimum 12x12. When we build or add on square footage we go even bigger than that. This particular property is 16x16.

We like to add light so we include extra can (recessed) lights in addition to our fan/light. We always add an additional switch for everything (cans, fan light, fan). We are already in there, it doesn't cost much to add additional switches. We also like to add a raised outlet where we think the TV will be hung. On nicer properties it's even worth buying a 50" wall mount TV for staging. You can usually find a deal online or at Walmart for a cheap version around $400.

We also like to add in ceiling speakers so they can have surround sound. If you go to a regular electronic store they are expensive. I found a few great deals on Ebay. I can usually buy them for $20-$25 each. Here is my most recent purchase. (July 2016)

Another feature we added in this property was french doors. When possible, we open up the master bedroom to the outside patio by adding french doors. Having a bedroom open up to the outside is a huge plus.

We try to stand out from our competition. This is what we do in our master bedrooms. Adding a few "wow" features can make a house that much easier to sell. Buying a home is an emotional experience, you want your buyer to have a great feeling when they step into your fix and flip and get the warm fuzzies in their stomach. That's when you know it's SOLD!

We have lots of free tips for real estate investors and flippers.
Follow us on Instagram @azflipguys or at www.facebookcom/azflipguys

Hot Sheet - July 4, 2016

Real Estate Hot Sheet - June 21st, 2016
This is a list of recent wholesale and cashflow properties. These are true steals, these move quickly. Some deals are from MLS, some are from wholesalers, some are hot off the auction block.

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.
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FIX AND FLIP/ CASHFLOW

449 S 98th Way, Mesa AZ 85208
$35,000
This is a great deal on a super cheap mobile home in east Mesa. This is a 2/1, 720 sf affixed mobile home with a 216 sf addition. This property was well kept and would make a great flip or buy and hold. Similar properties sell for $50 to $80k and can rent for around $800/mo.

Move quickly, once we close on this we will be updating

with carpet and paint and listing on MLS for retail value.

Cash or hard money
Price is net to the seller, buyer to pay all closing costs

PHOTOS - CLICK HERE
COMPS - CLICK HERE

Disclaimer: Please do your own due diligence. House is being sold as-is, and buyer is to pay all closing costs. Price based on a cash or hard money offer. All properties offered are either owned by KRO Enterprises LLC, under contract and selling equitable interest, or offered in conjunction with a business associate. All offers on properties require a $5000 non-refundable earnest deposit. 

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FIX AND FLIP

1931 E Raymond, Phoenix AZ 85042
South Phoenix fix and flip - Only $60,000
3 bedrooms/ 2 bathrooms/ 1464sf
Needs a full remodel - electric, plumbing, roof, 2 bathrooms, kitchen, paint, etc
We have a contractor bid for $35,000.
ARV 130k.

PHOTOS

Cash or hard money - price is net to the seller, buyer to pay all closing costs
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FIX AND FLIP

1927 E Raymond, Phoenix AZ 85042
$60,000
2 bedroom/ 1 bathroom house plus 1/1 studio
Needs a full remodel - electric, plumbing, roof, 2 bathrooms, kitchen, paint, etc


Pics - https://www.dropbox.com/sh/pf9eushh2tyz9jn/AABB3yx34O-yrGMj6Wc98i72a?dl=0

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FIX AND FLIP

5416 W Sanna St, Glendale AZ 85302 - $168,900

6 bedrooms/ 3 baths/ 2,339sf/ 12,000+sf lot/ Diving pool

Great opportunity with a huge spread. Comps from $260,000+.  
Extensive repairs needed including electric, some plumbing, pool,
plus cosmetic upgrades. This home sits on a HUGE corner lot
and is over 12,000sf.
COE to be 7/15/16 or sooner

PHOTOS
COMPS
CMA

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We are also accepting cash partners on these projects.
We have debt and equity opportunities.

Contact Kris for more information 602-292-5747

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CASHFLOW
4 Turnkey rental condo's - $175,000 TOTAL!
1350 E. Northern Ave, Phoenix, AZ 85020
Yes, that's right, 4 income producing condos near Squaw Peak for $175,000. That is under $44,000 per door. This is the lowest cost condos east of the 17.

All 2 bedroom, 1 bath, 700 sq ft units. Total Income - $2,993/month. Total HOA - $1,088/month – Includes electricity, water, trash. $1,905/month net cashflow.
Contact Kris at krisonti@gmail.com or 602-292-5747
***THIS IS AVAILABLE VIA A LOCAL WHOLESALER***

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CASHFLOW
Here is a new cashflow property from our friends at CapCore real estate. PM me or email krisonti@gmail.com if you are interested.

706 N 4th St Apts. 3 & 4 Avondale, AZ 85323
$125,000 for BOTH!
Claim this pair of Condos FAST! They are performing assets with great long term tenants paying solid rents. Please call on this right away. Opportunity is knocking.
9% CAP with low expenses and easy maintenance. $125,000 Cash takes both units. The Condos can be purchased individually or together.

APN Apt 3: 500-18-237-A
APN Apt 4: 500-18-238-A
Two 2 Bedroom 2 Bath single level condos w/:
Private patio/yards
Private, indoor washer and drier
LOW HOA fee of $60/m/unit
Tenants pay ALL utilities
Estimated Annual Expenses: Estimated Annual Gross Income:
$1440 HOA $15,960 Rental Income (Less 5% Vacancy)
$1200 Management
$1000 Maintenance Estimated Annual Net Income:
$600 Insurance ($300/unit) $11,242
$478 Taxes (2015 Assessor)
CAP Rate = 9.00% | $4718 TOTAL Expenses
One tenant is long term (7+ years) and the other has been in place for just
over a year.

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FOLLOW US

Follow me on Twitter: https://twitter.com/azhomerenovator
Follow me on Facebook: https://www.facebook.com/phxcashflow/
Follow me on Instagram: https://www.instagram.com/azhomerenovator/
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Disclaimer: Please do your own due diligence. House is being sold as-is, and buyer is to pay all closing costs. Price based on a cash or hard money offer. All properties offered are either owned by KRO Enterprises LLC, under contract and selling equitable interest, or offered in conjunction with a business associate. All offers on properties require a $5000 non-refundable earnest deposit. 

Maricopa County market update

When you are a real estate investor it is very important to know your market. I will provide market statistics based on the ARMLS (Arizona Regional MLS) so you can keep an eye on what is happening.

10/2/2016
20,198   Active listings
6,281     Pending listings
3,997     AWC 
3,596     Sold - September 2016

September was a fairly active month. We have been a very steady market, we've been in the 20,000 range for active listings for the last 8+ months. Pending have dipped slightly but AWC listings have maintained. It was a typical September for sold listings.
The Phoenix area market has remained very consistent and we are looking for a typical winter. Interest rates have not changed and it seems as if everything is on hold until the Presidential election. Many experts feel we will have interest rate changes in December or January. This remains to be seen.

6/28/2016

20,706 Active listings

7,874 Pending listings
4,154 Pending and accepting back up offers

3,785 Sold listings in last 30 days
*2,064 under $250k (54%)
*1,345 between $250-$500k (35%)
* 379 over $500k (10%)

                        

These numbers show that we are solidly in a seller's market. With over 12,000 pending properties, we have less than 2 months inventory. In a traditional market we have between 30,000 and 40,000 listings. So our inventory is very low. 

We should have an increased amount of closings next month, which is typical for Maricopa County, as many people are trying to get settled prior to the start of the new school year. 

The under 250k market is still very strong while the luxury market over 500k is not very active. If you are looking for a new fix and flip it is best to stay under $250k. 


Kris Ontiveros 
US Preferred Realty
602-292-5747
krisonti@gmail.com


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Flip tip - Building your team

Flip tip - Building your team - Your Realtor

In this flip tip, Kris discusses the importance of having a great Realtor on your team. Your Realtor must be a pro. You need an experienced agent who is familiar with the needs of an investor, preferably an agent who is also a real estate investor.

A lot of investors try to save money by hiring newbie or discount brokers, this is a horrible mistake. You need a seasoned Realtor who can help you negotiate a great price and make sure you get the true value for your flip. Thousands can be lost with the wrong Realtor.

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Transcription
"Hey how's it going, it's Kris with Phoenix Cashflow Properties. I'm here today at one of my listings. This is a fix and flip that one of my clients sold, that's why I'm here today, because we sold this baby! We are picking up the lockbox and we are clearing out because we will be closing escrow today. My client was able to close this property and get paid all while being on the beach, he's on the beach right now as we speak. So how did he do that? He did it because he has a great Realtor, and that's what you have to have if you want to be a successful investor. A good Realtor will know how to properly price a property, market it, negotiate offers as they come in, and do the little things like meeting the appraiser when he comes out because those are some of the most important things to get your price when you are doing your flip. So, the moral of the story, have a good Realtor on your team, they are worth more than their weight in gold, they will save you way more money than they will cost you. Dont' go with a discount broker because they don't really care, they don't work hard, you need someone who is also an investor and knows what you need. So...if you want to make money while YOU are on the beach,  just like my client is right now, follow us. At facebook we're at Phoenix Cashflow Properties, on Twitter and Instagram @azhomerenovator."

Make every contact count

This morning I received a call from Portland, OR (one of my favorite cities). I've been getting advertisement robo calls from out of state numbers all week, so I was hesitant to pick up. In my opinion, it's quicker to just pick up the phone then have to listen to a message and call someone back. Anyways, it's a fellow real estate investor who lives in the Pacific Northwest. He called because my electrician listed me as a reference and he was doing his due diligence. I gave my guy (John LeBeau) a good reference and a few details he asked for.

It would have been easy to stop the conversation there, but I know this business is all about what you know and most importantly WHO you know. So I started to dig. It turns out he owns 24 houses in the Phoenix area. I found out what he likes, what he doesn't like. I know that he specifically wants houses built 2002 and newer, between 1800 and 2200sf, and that he is looking for a 7% ROI. A lot of people have assumptions that most investors want the cheapest deals out there, but most smart investors are looking for better tenants in better neighborhoods and are willing to pay for it.

I let him know how I work, that I bring off market deals with equity. His objection of "already having a real estate agent" goes out the window because his real estate agent doesn't know how to play this game. I'm not going to browse the MLS, I'm going to connect with my sphere and bring him a deal. It might not happen this week or next, but he is on my radar.

The more rental buyers you have the more you will make wholesaling.

So these are my lessons for today, 1. Make every contact count. 2. Your network is your net-worth. 3. Don't assume what other people want. 4. When you create value for people there is no such thing as competition.




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Flip tip - 10th st shower

Here is our latest shower remodel. This was part of a flip with a room addition.

We used 12x24 white subway tile, 3x6 grey glass tiles for design, and grey penny tile for the floor. we've attached a link for exact specifications.

We have a valve with 3 settings, showerhead, rain showerhead, or both.

Here are a few pics of the finished bathroom.






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