patrick.net
An Antidote to Corporate Media
1,365,017 comments by 15,734 users - Misc, MolotovCocktail online now
For my patrick.net fans, bought my 12th home July 24th!
2012 Jul 25, 2:33pm 38,642 views 93 comments
Comments 1 - 10 of 93 Next » Last » Search these comments
I know that technically Arizona is in the United States but does it really count? No.
I know, I know, it's a dry heat.
Biff
CrazyMan
@
2012 Jul 25, 4:13pm
Congrats. Building a small empire in Arizona is like winning the special Olympics.
That's a really good one, congrats.
Are you handling all 12 rentals by yourself (leases, taxes/paperwork, maintenance)? That sounds like a substantial commitment, unless you can get help from family or use a management company.
Maybe if you own enough rentals you can 1. buy a sports car 2. upgrade girlfriends from a retriever to a human.
Of course the chicks running around in that hell hole must be something else.
I guess it could be worse, you could be in Nogales, Juarez, Victoria, Monterrey Mex.
Goran_K
@
2012 Jul 26, 12:12am
upgrade girlfriends from a retriever to a human.
I don't usually like to engage in the mud slinging, but this got a chuckle out of me.
David9
@
2012 Jul 26, 1:56am
Congradulations Roberto.
85K is a reasonable price for a property in a good location. I paid 91k for a city property in Dallas.
In my opinion, the closest similiarity to the Phoenix market here in Southern California is San Bernardino / Riverside and Long Beach.
Although, mulit units sell quickly anywhere.
Congrats! I'd like to build an portfolio of 10+ properties. Stuck on 4 right now and am not finding the deals I used to in the location that I'm used to investing.
Comments 1 - 10 of 93 Next » Last » Search these comments
Yes, just three weeks after home 11, ($80K, +$9K in remodel and appliances, hoa = 100, taxes = 800 a year, insurance = 750 a year, rented for $1100) which is now rented at the predicted amount.
This one was $85k, 3/2/2 car garage in 85201. Another cash purchase short sale. It needed paint, minor fix ups, and flooring in the 3 bedrooms, plus the wild overgrown yard needed attention, and the wooden fence had fallen down. I thought I could completely remodel it in 2 days, but a few problems arose and where overcome, it looks like 4 days to completion. The reasons I particularly wanted this home, in addition to its very central location, in an area seeing tons of commercial development (among others like mesa riverview mall, is the cubs spring training facility directly adjacent,http://www.azfamily.com/news/Cubs-Mesa-spring-training-facility-finally-breaks-ground-162144835.html)
But this home had a brand new 50 year shingle roof put on in 2011, and a new ac as well, courtesy of a major hail storm. It is solid slump block too, which is my favorite construction material.
One of my local friends offered me $110,000 for it, a $20,000 profit for one week's work, but I believe in the area, and this home, so I'm going to keep it for the long haul. I'll post some pictures of the remodel tomorrow. If anyone needs a good rental in that area, contact me through my profile, $1100 a month.