The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Saturday, June 24, 2006

Pics of latest acquisition.

Hi Everyone,

Its been a long time since I've posted! I've been enjoying retirement from REI for over a month now. I plan to take a break for another 5 months. This is in part to my wife's request to spend more time w/ family. Kinda of hard to argue that one, you know? Realistically, this hurts my financial goals , but I will try to make up for it w/ more excellent acquisitions later this year.

I plan to continue the blog, however, I may stop posting for several months. I'm not sure. I may get bored and want to post my ideas and document latest observations in the markets.

Anyway, I am posting the townhouse that I completed in early May. Check it out, I posted a before pic, I can't believe I forgot to take "after" pics. Overall, this was an awesome project, I bought subto from a motivated seller for 85k. The property is curently worth 130k. I spent about 6k in rehab. It looks excellent and will be a strong rental.

I just closed on a re-fi last week. It was pretty cool to re-fi after a month and half of ownership. My broker is awesome! I got a re-fi for 92k, which essentially made this a NO MONEY DOWN DEAL!

Cash flow is negative $75 a month. This ok with me since I have plenty of equity and will be benefiting from taxes, mortgage pay downs, future appreciation, and rental increases in the future.

If I could do 5 of these every year, would be in great shape in no time!

Take care,

Bginvestor



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