Tuesday, April 20, 2021
Saturday, April 17, 2021
85254 Scottsdale Seller's Builder Play
Scottsdale has a hot zip code 85254. It’s Phoenix’s 90210 if you will. Its boundaries are west of Scottsdale Road, east of 64th Street, north of Shea and south of Cactus. That’s super-hot and getting hotter. What is going on there is Builder’s are pushing over the old house to build a giant mansion. I call them the White Castle. They build giant white rectangles with flat roofs and sell them for 2.5 Mil.
These Builder’s are so desperate for lots over 24,000+ sqft, they have asked me to help find them lots. My Strategy is to approach a homeowner with a very old house and see if they wish to sell. The prices for lots right now are 700k – 850k depending on specific location within that square and the lot size.
If you are thinking about selling, now is the time. Why? The California exodus has created a Seller’s market. Homes are selling so fast, there is virtually no inventory. We have not had this market since 2005, 16 years ago. Smart Owners are selling now to take their profits off the table. The correction is coming, it has to. We just don’t know when.
I have successfully gotten these Owners top dollar with no commissions, no repairs and easy move out. I have successfully found them nicer, smaller homes (some wished to downsize) and they can pocket the difference. Think about that! Sell at 800k, buy at 250k, its nicer, easier to maintain than the big yard and keep the difference.
If you are thinking about selling, call me know. If you are thinking about listing, I do a flat $5,000 full-service listing. All yours for the asking. Either way, I can’t wait to speak with you.
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Home Warranty FREE Termite Inspection
FREE Termite Inspection FREE Home
Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
nowlin.geoff@gmail.com
Friday, February 5, 2021
Arizona’s Eviction Tsunami
Rochelle P. Walensky the Director of the Center for Disease Control (CDC) issued a ban on evictions 9/1/2020 and reinstated it until 3/31/2021. The rationale is that if people get evicted, they move in with family or friends and thereby will spread the covid faster.
Think about how stupid this decision is! Let’s look at the Tenant side first. The Tenant lost their job and now does not have the ability to pay the rent. If the Tenant lives in a “shut-down” State/City, the Tenant may not have any ability to supplement their income. The Tenant gets behind on the rent for the 6 months of the ban. If their rent is $1,000, then they are $6,000 behind! Ouch. Chances are, if they cannot pay $1,000 how are they gonna make it up and pay the $6,000 when the ban is lifted. They are not. Now they have to go to Bankruptcy Court and do a BK to stall the eviction. Don’t think they are not getting evicted, they are, its just a matter of when. The tsunami Tenants face is the combination lock-down, eviction and BK. All sponsored by our Rulers!
Here's the double dumb part:
In order to qualify for the “FREE RENT” Program of the eviction ban, the Tenants must:
- Sign
a declaration form proving the hardship
- Prove
that they “TRIED” to get government assistance
- Prove
they are unable to pay due to job loss
- Prove
they are making “PARTIAL PAYMENTS”.
Most Landlords will not accept partial payments because it stalls
the eviction. Herein lies the catch-22.
- Prove
they will likely be homeless or forced to shared living. How the hell do you prove that?
- Make
less than 99k single or 198k jointly.
Let’s look at it from the Landlord side. Many Landlords may not be cash rich with the ability to provide free housing to families. Those Landlords will also be forced into bankruptcy. If they cannot make their payment to the Bank, the Bank will ultimately foreclose. Many Banks have provided relief, but that relief is not permanent. At some point, the Bank will need its payments too.
My prediction: the tsunami of Arizona evictions will force both Tenants and Landlords into bankruptcy. The real winners will be the BK Attorneys. Once again, the System is rigged to the elites.
If you disagree or have an alternate opinion, I would love to hear from you. Don’t forget that I sell homes for a www.5kflatfeelisting.com and would love to work with you.
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
Thursday, February 4, 2021
Wednesday, February 3, 2021
Luxury Scottsdale Airbnb
3428 E. Jenan Drive, Scottsdale AZ 85254
1st house is 3200 square feet 4 bed, 3 baths. 2nd house is 1034 square feet 3 bed, 1 bath. This home generates $21,000 per month in season and $10,000 per month off season. It sits on 35,000 square foot lot (3/4 acre).
This home was professionally rebuilt in 2009. The ask price is $998,000. See video walk thru attached.
The neighbors are begging me not to sell it to an Airbnbers. Truth is, as a licensed Realtor, I have to present all offers and allow the Seller to decide. I intend to hold it open.
The strategy is:
List on a Thursday
Open Saturday and Sunday
Offers due Monday
Decision on Tuesday
This house is on a septic tank. That means that in order to transfer it with the County, it must be pumped and certified. Or a waiver for transfer.
If you need help buying or selling. See me at www.5kflatfeelisting.com. Looking forward to working with you.
Buyers get: Sellers
get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
nowlin.geoff@gmail.com
Friday, January 29, 2021
How to earn 20% on your Home's Equity
I have been on a kick lately. When I was asked what can I do with my home’s $200,000 equity? I have started to think of numerous ways families can access their equity to leverage it for income.
Idea: You can Fix & Flip houses with me. In a normal Fix & Flip, I get a loan from a private lender. The private lender only picks up part of the funds needed. The remainder is picked up by a Gap Funder (that’s YOU!). In exchange for your portion of the funds, I am willing to split the profit 50% / 50%. You get your principle back + 50% of the Profit. Let’s look how that would play out
Math Example:
ARV $600,000
Profit (10%) $60,000
Purchase Price $420,000 (we typically need to buy at 65% of ARV)
Private Lender 1st $390,000 (assumes 65% of ARV)
Repairs $50,000
All other Costs $25,000
Short $105,000 (Gap Funder 2nd, $105,000)
Upon final sale at 600k. Gap Funder gets $105,000 principle back + $30,000 (28.5% ROI).
I can show you a Fix & Flip Calculator that shows all the costs associated with the Buy, Fix and Re-Sell. It calculates the exact dollars needed before we engage in the project. Ask me how you would be secured in this investment and what paperwork would be needed.
I am actively soliciting Investor Clients, Buyer Clients and Seller Clients. If you have a Phoenix real estate need, find me at www.5kflatfeelisting.com
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
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