Lincoln Dr. Fix and Flip

 Fix and Flip Grand Slam!

I am fix and flipping a high-end home off Lincoln Drive near Paradise Valley.  Super swanky neighborhood.  Here is the basic math:

Purchase                 1,970,000

Rehab                    300,000

After Repair Value 3,200,000

Expected Profit           362,000 after all expenses

See video for all the pesky details of the expenses.  Today’s goal, finish locking it up under contract.  Secondary goal, fix the house faster than 9 months.  Wish me luck!  Don’t forget to see us in action 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

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

3800 E Lincoln Drive Mystery

 3800 E. Lincoln Drive Mystery

I got a call from my favorite Hard Money Lender saying there is a 5000 sqft house in pre-foreclosure and the auction is next week.  Naturally, I said “Fantastic”, lets help them out.  In doing the due diligence on this property.  Here is what I found:

1. They have owned it outright since 1996

2. In 2001, they put 965k loan on it

3. Its 5033 sqft on a 6160 sqft lot

4. Built in 1987

5. Very nice part of town near Paradise Valley

6. Lien #1 720k

7. Lien #2 232k

8. HOA Lien 12k

9. Judgment 865k

10. Total encumbrance 1.83Mil

Most Investors would stop there.  I think ARV could top 3Mil.  So I am definitely interested.  I attempted to skip trace the phone and email address.  No luck.  So I built a small intro package and drove it over there.  

Unfortunately, this is a guard gated community with a real Guard.  He was very nice and attempted to call the Owner.  Owner was not home.  As he was shooing me away.  I asked if he could get the package to her.  He said YES and took the package.  

There is no way that I know of to contact someone in distress than by phone, email or knock.  My plan B is to have my Social Media Assistant see if she can find her on SM.  We shall see.  Will let you know if more develops.  

I could help this lady thru buying her house and paying off all the debts or I could list the house using my www.5kflatfeelisting.com service.  Either way, it gets them out of hot water.  Let me know how I might be able to help 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

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Kalil Coming Soon Property Details!

 Kalil Coming Soon Property details!

I met this guy and his wife at an Open House I was holding.  They seemed somewhat interested in my www.5kflatfeelisting.com.  Since I had 300+ at the open, I really didn’t think much about it.  They called weeks later to schedule a Listing Appointment.  He wants to sell at 1.2Mil.  She wants to add-on and stay.  So they are having an internal marriage disagreement.  OUCH!  I surely don’t want to be in the middle of that.

So I recommended a Strategy that would satisfy both desires.  My recommendation was to list for only 30 days at the “MAKE ME MOVE PRICE”.  If you get it, the husband was right and you take a huge chunk of money off the table.  If it does not sell, the wife was right and they should begin the planning process on the addition. 

In the interim, I meet Atanas at The Sicilian Butcher and he tells me he is a Builder.  So I soft pitch the Kalil property and he is interested.  I trial ballooned 1.3Mil and he didn’t flinch.  (p.s. the Husband told me that I can keep anything over 1.2Mil).  We shall see about that. 

So the showing is next Monday.  I will do a video and let you see the property and let you know how it went.  This is how we work.  Everybody is interested in real estate.  You never know who you are talking to and you never know what they will do.  Its very easy to bring up real estate and the market.  Everyone is open to that conversation.  So if you are thinking of Selling or Buying.  Check us out 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

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Comping a Flip 85015

 

Comping a flip in 85015!

1601 W. Tuckey Lane, Phoenix 85015 is a recent flip that I will be inspecting tomorrow.  This house is 100% rehabbed and is getting peak price at 500k.  It was listed at 500k.  The highest closest comp is 427k.  But that home was not nearly as nice as Tuckey.  Comping a house can be tricky because so many factors go into the figures.  I like to stay within the subdivision is possible.  In this case, it was not possible because there were too few comps.  

To get an apples-to-apples comparison, I use # bedrooms, year built plus or minus 10 years and square feet plus or minus 20%.  That’s how I found the high comp at 427k.  So how can they get an extra 70k in this location?  Because this market is so hot with the California exodus.  Our California brothers and sisters are overpaying because to them, Phoenix homes are so inexpensive.  

In this zipcode, there are only 27 homes available on the market.  In the last 6 months there were 272 homes sold and if you divide by 6, the zip code sells 45 homes per month.  As you can see, 27 is almost half of the last 6 months.  

This Seller at 500k will pay $15,000 in Listing Commissions.  If he knew me, I would have sold this home for a flat 5k and they would have saved $10,000.  So if you need to sell a house and save money.  Please see us 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

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Home Inspector Saves Clients from Huge Mistake!

 Home Inspector Save Client (you) from Huge Mistake!

I am both a Realtor and a Home Inspector.  This Client hired me to perform a home inspection on Tuckey Lane in Phoenix.  The neighbor told us that other inspectors have been to the property and that it has fallen out of contract before.  Why is this information interesting?  Because something is terribly wrong with this house.  The owners bought in 12/2020 for 343k.  They are asking 500k and the pictures make it look like a nice rehab.  Even the description sounds like a nice rehab.  NOPE, not even close.  Turns out that someone removed half of the roof purlins, dwarf studs, collar ties.  

Why do you care?  Because the ceiling in the kitchen sags 3 inches, the beam in the TV room sags 1 inch and the back roof sags 3 inches.  I am guessing this is at least a 30k repair.  What else you ask?  We did a sewer camera and found tree roots and cracks in the piping.  Nu-Flo quoted $185-$250/linear foot to sleeve the old pipe with the new material.  If the total length ends up at 90 feet.  Cheapest repair with them would be $16,650.  Not to mention the 2 super old HVAC units, the misplaced hot water heater, the bad flooring, etc.  I could go on and on.  Basically, this home needs 100k in repairs just to correct the mistakes. 

This appears to be the Owner’s first flip.  Thank God our Client was smart enough to hire a Home Inspector before making a 500k decision.  They would have got stuck with this house. 

And to boot, the highest comp in the area is 427k.  So this Client is saved from overpaying and from getting stuck with a lemon.  This is why you want your Realtor to also be a Home Inspector.  This is how we save our Clients from huge mistakes.  If you need to sell at a 5k flat fee listing and save thousands, see us at www.5kflatfeelisting.com or if you need to buy, ask how we save you thousands for doing that.  Look forward to speaking 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 and Mia Nowlin, Phoenix Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

 Wholesaling helps the Seller and the Neighbors!

Wholesaling is a term used to describe a transaction in which you get a property under contract and sell the contract.  In this case, I got a lot in Scottsdale under contract and will now attempt to sell it to the Builders so they can build a giant mansion for big profits.  Everybody wins.  The Seller gets rid of the old junkie house with no repairs, no commissions, no closing costs, no hassle.  The Builders get a lot to build on.  The Neighbors get rid of the junkie house and have a beautiful mansion to look forward to.  

And think about all the people who will be employed in the process.  Title company, Realtors, Appraisers, Home Inspector, Construction folks, Permit dept, City employees, Utility companies, etc.  When you help move property, you help move the economy.  

I just hope the Builder will decide to sell the mansion thru me with me www.5kflatfeelisting.com.  No matter what the sale price, I sell for a flat fee.  Saves the Seller thousands.  And it will work for you to.  See 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

www.5kflatfeelisting.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Seller’s Jeopardy, How to minimize Seller’s Liability!

 

I just listed a house for a 5k flat fee.  The Listing went so well that it generated a Buyer standing in the driveway.  The Seller notices and walks out to greet.  The Buyer really really likes the house and wants to make an offer.  

The Seller believed that he will save money because he negotiated the deal with the Buyer directly.  Is he right?  NO!  Why?  1) a Listed house that generates a willing Buyer has done its job.  The legal term is procuring cause.  The layman’s term is “but for”.  But for what the Realtor (me) did, a willing Buyer was produced.  This Buyer went to Zillow, found the house, drove over to see the house (without appointment) and decided to buy.  2) The Seller should desire the Buyer to be represented to make certain all legalities and liabilities are covered.  You don’t really want a non-represented Buyer because it could bite you in the future.  The AZ Realtor Documents are well tested in the AZ Court System and are designed to cover everyone’s bases.  

Do you really want a Buyer to come back at you in a year citing: 1) I wasn’t given a final walk thru 2) I didn’t read the disclosure document or 3) I didn’t know that sex offenders lived up the street or something like these?  No, you don’t want a past sale reversed or defended in Court.  Court can cost $50,000 per day plus prep fees.  No thanks, not interested.  And that’s why Seller’s should want for themselves and their Buyers. 

If you need representation, we do a www.5kflatfeelisting.com and would be glad to speak with you about it. 

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

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona