Gentry clients get a special exclusive incentive for buying these units through us.
$10,000 off the price of the unit ~ 2 year lease back ~ 2 year taxes ~ 2 years HOA & insurance paid for ~ 2 years property mgmt paid for
This home is located near downtown Phoenix Arizona which is a great area to be buying at click here to find out why: whydowntownphoenix
prices start out at as low as $149,950
For more information con act me at elliot@gentryaz.com or call me 480-248-0209 also download this profile: brick at the commons property profile
Smart Questions asked by Gentry Investors
Question: Can we assume that all lease backs and payments will be held in an escrow account should the builder go under? Answer: The builder is going to have a special reserve account in which there will be enough money reserved for the 2 year lease back. Question: Would we be able to rent the unit out during and after the 2 yr lease back period? Answer:During the 2 year leaseback you will receive market rent from the builder based on the formula below, whether it is occupied or vacant, during this time they will also manage the property for free. They will place and screen the tenant for you. After the 2 years is its up, we will need to find another property management co. 8% of monthly rent is a typical cost for property management. (gentry can help you find a good property mgmt company) Question: How will rent be calculated? Answer: Leaseback rate will be calculated as 90% of purchase price times 7.5% divided by 12. So for example if you were to go with a 2 bedroom you take the purchase price of say 224,950 if you take one as is: would be $224,950 X 0.9 X 0.075 divided by 12 = $1265.34 (for the lease back rent paid by seller to you for 2 years) Question:I know that the HOA and Taxes are paid for in the next 2 years, but what is the current cost of HOA and taxes so i can make a good judgment of what those cost will be after the 2 years is up Answer: HOA: Merlot 111.09, Shiraz 120.45, Chianti 172.19, Cabernet 177.89 if a unit has a garage the HOA increases by $5 per month. 07 taxes for the year were: Merlot $440.38 per year, Shiraz $477.50 per yr, Chianti $682.56 per yr, Cabernet $705.78 per yr Question: Is there an incentive for using there preferred lender Answer: Yes $1000 towards closing cost. Below are the preferred lendersMike Tompkins
Director Builder Development
State Mortgage
480-648-2200 office
480-362-1326 fax
602-329-6591 cell
mtompkins@statemortgage.net
Lisa M. Wright
Home Mortgage Consultant
Wells Fargo Home Mortgage
S3851-011
20830 N Tatum Blvd Ste 100
Phoenix, AZ 85050
480-515-7607 Tel
480-502-9236 Fax
lisa.m.wright@wellsfargo.com
Apply online at: www.wfhm.com/lisa-wright
Ashlee Widdup
Evolution Financing
602-388-4300 Office
480-710-0806 Cell
602-532-7560 Fax
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