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  1. #1

    Default Why I love the USA!

    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!!

  2. #2

    Default

    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.

  3. #3
    Join Date
    Sep 2008
    Posts
    7,658

    Default

    what do all the letters mean?
    have you defeated them?
    your demons

  4. #4

    Default

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

  5. #5
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    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.
    Patience is a virtue.

  6. #6

    Default

    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

  7. #7

    Default

    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?

  8. #8

    Default

    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.

  9. #9

    Default

    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.

  10. #10

    Default

    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


 

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