I need investment advice

**adora333** · 06-28-2008 12:54 PM

I am thinking about doing a 2 property deal tomorrow and would like to hear what you think about it. The properties are in extremely desirable areas of the Phoenix metro area(3,000 sqft. in Chandler & 1700 sqft. in Gilbert). Chandler property is a sale price of $515,000 and the Gilbert property is a sale price of $360,000. I will get a total of $65,000 back at the close of both properties. I will live in one and rent the other out. I plan to use the money to do a couple of rehab projects. I can borrow from hard money and use my 65,000 to do the repairs. These type of projects are hard to find but still can make $10,000- $15,000 profit off of each. Also I want to invest in some pre-construction projects but will have to make some quick cash first to pay my 2 huge mortgages. My problem is I am scared to do this deal. What if it goes wrong? I have never even owned a home before. I am young and have never invested money in anything. I make decent money but not enough to cover this mortgage for to long if my plan does not work out. I do know a good deal about real estate, I am a mortgage broker with a background in construction. I think this will all work out but like I said I am afraid to think what will happen if it don't. Please give me any words of wisdom you may have.
Thanks from th bottom of my heart.

**VRI** · 06-29-2008 08:35 AM

Well, I'd suggest that you move to Phoenix, from Virginia, first (as you plan to live in one) and then in if you're gonna drop a load on the investment that you forget the property in Rio for awhile.

**Malok** · 06-29-2008 09:11 AM

The guys a spammer IMO.

**SLP-NYCT** · 07-30-2008 06:23 PM

Me thinks so too, but great answer VRI

**GetSmart** · 08-01-2008 12:06 PM

how are you going to receive $65k? in most cases receiving cash at closing as a buyer isn't going to fly.

**SEO Nick** · 08-01-2008 12:38 PM

forum.hktdc.com/forum/Forum5/HTML/000275.html[/url]

**GetSmart** · 08-01-2008 12:52 PM

nick how did you find that thread? geez

**SEO Nick** · 08-01-2008 12:59 PM

Magic!... jk. I took a chunk of what they posted here and searched it in quotations. If you search in quotations, it looks for the exact text. Good for detecting duplicate content and spammy mcspammersons.

**GetSmart** · 08-01-2008 01:46 PM

Originally Posted by SEO Nick

Magic!... jk. Good for detecting duplicate content and spammy mcspammersons.

Thats too funny.

**mcaronan** · 08-03-2008 08:58 PM

Nice search dude.. Spammers gives me a headache

Real Estate Webmasters

Learn More:

Thread: I need investment advice

Thread Tools

Display