Wednesday, September 28, 2016
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
Tuesday, September 27, 2016
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
Monday, July 11, 2016
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.
----------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------
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
-----------------------------------------------------------
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/
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
--------------------------------------------------------------------------------
We are also accepting cash partners on these projects.
We have debt and equity opportunities.
Contact Kris for more information 602-292-5747
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***
-----------------------------------------------------------
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.
----------------------------------------------------------------------------------------------
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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.
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.
----------------------------------------------------------------------------
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
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.
-----------------------------------------------------------------------------
FIX AND FLIP1931 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
-----------------------------------------------------------
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/
------------------------------------------------------------
FIX AND FLIP5416 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
--------------------------------------------------------------------------------
We are also accepting cash partners on these projects.
We have debt and equity opportunities.
Contact Kris for more information 602-292-5747
-----------------------------------------------------------------------------------------
CASHFLOW4 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***
-----------------------------------------------------------
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.
----------------------------------------------------------------------------------------------
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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.
Tuesday, June 28, 2016
Maricopa County market update
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.
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
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
Monday, June 27, 2016
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.
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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."
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.
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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."
Wednesday, June 22, 2016
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.
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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.
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
Tuesday, June 21, 2016
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.
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/
Visit me on Youtube: https://www.youtube.com/channel/UCaHF4097oEBtelEQHK25WrQ
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