Why I love the USA!

[Dissindat]

Our market gets better and better!

Last weeks purchase:

PP $ 28,500
Rehab $ 3,000
BT $ 5,250

ARV $61,000

Rent $850 a month

And I'm happy as a pig in slop!!

[Dissindat]

Purchased today in Phoenix:
PP $37,000
REHAB $ 5,000
BT = zero :-)

ARV $81,000

Triple net return = 14.23% IN PHOENIX!!
God I love real estate.

[eri]

what do all the letters mean?

[Dissindat]

PP = purchase price
BT = back taxes
ARV = after renovated value

[essence]

Great ROR's!!!

Are these easily available??? How are you managing with financing?? Are you a cash buyer or do you have bank approval?? Are you managing to get the tenants that you want .... and are they staying??

Could you please give us a GENERAL overview of the market where you are, as you see it. Obviously every market is different, esp with the recession.

Isn't real estate great!!!!??

Always interested to hear how other investors are doing.

[Alex SC]

This is what I call A property in Atlanta little to no rehab and good rental income.

Short Sale approved for $28k zillow rent average is $947- _ $1300 for area so I would base it off $850 to be safe.


http://www.redfin.com/GA/Union-City/10254-Deep-Creek-Pl-30291/home/24792590




Yes I bid on 46 homes thurs night.My office staff went through the list only 30 were available. We did that 3 times this past week.Out the 30 bids we expect to buy 5 homes a week. Been averaging 2 homes purchases a slow week ,good weeks 4 to 7 homes.

Think it will stay this way for next 3 to 5 years .Hopefully longer


Atlanta, and Charlotte are two markets I deal and invest in..Depends on what you are buying .Then easier to give a market over view.Atlanta is a huge city as with Charlotte NC...

Alex

[Dissindat]

Howdy Essence. It is difficult to say what a general market is like over here. There are so many variables in every city and different parts of each city. In general terms however, (according to my Pa who has 45 years in this game), there has never been a market this good in his life time. I certainly can buy better than I ever have been able to before. Our rents are staying strong but prices are lower than a snakes belly.
Getting and keeping tenants is wholly reliant on your property management company more than anything else. I expect at least one home to be vacant for a month or more a year but as long as you are buying right that is no matter.

I am finding the best deals in Phoenix right now and I use hard money loans, paying them off in under 5 years!

What's it like in New Zealand right now?

[JenniferG]

I'd like to get into the property investment field. How did you get started? Did you use your own money or bank loans or private investors? I do love the prices that I've seen in my area. The only thing I'm worried about is finding tenants.

[Dissindat]

Well I'd get along to an investor meeting and connect with some folk doing it in your city. You don't need much money to start, just some knowledge.

[Dissindat]

Latest purchases, 5 SFR's.
Total Cost = $125,000
Triple net yield = 16%

Sure beats working!!

Phoenix is going off, happier than a hog in slop

[essence]

SFR's???... (must have 10 letters!!!)

[Dissindat]

Single Family Residences, (as opposed to multifamily).

[essence]

Are you talking stand-alone residences (bungalows), detached housing (as they're called in the UK) or townhouses (semi-detached).

Thanks for keeping us posted on what you're doing over there. It's great to get a different viewpoint.

[Dissindat]

Homes on their own lots with back yards, not apartments or condos.

[mattinvestor]

I prefer investing in SFRs. They're the least risky, and I like that you get the land too - which is what significantly appreciates in value