TMP equity was flat this month.

Our three houses were; one flat, one up, one down:

Jeff and I went searching. We found a new build house at the base of South Mountain in Phoenix. This is an area that is just opening up because they completed the 202 Loop Freeway and they are extending the light rail from downtown. It is only seven or so miles from downtown.

We found a 3bd/2ba new build at $382K that allowed investors. For $20K we moved up to a 4bd/2ba on Sherman’s recommendation that it would be easier to rent. We went through all the loan qualifications with the builders’ mortgage company. And when we went to sign the final purchase agreement, we were informed that as investors we would have to “add” 10% in upgrades to the $402K. At that price it would be a negative cash deal after the 20% down. We did not sign.

So, we went to look at a nice $315K 3bd/2ba and another bigger 3bd/2ba nearby. Both were nice houses. The first had multiple offers, some over asking price. Evan at the offered sales price we still have negative cash flow.

With today’s interest rates, you cannot find a positive cash flow deal in the Phoenix SFH market.

So, today I went on a hike with Michelle, our daughter Melissa, her dog Buddy and our son-in-law Jon. We did the Turk’s Head via Turks Cap Trail.

If you like hiking, get the All Trails app. Free, or even better the $30/year version. It is great. Here is their description:

“The Turks Cap Hill is a ramp shaped peak, approximately 2800 feet in elevation, located south of Superstition Mountain. This route begins at the Kings Ranch Road Trailhead. From the trail head walk east bound a short distance down Baseline Ave, it will become a gravel road and end at Blackhawk Road. Pass through the barbed wire fence here, (see photo) and continue east into the desert on a good trail. This trail will quickly reach a T intersection with the Gold Canyon Mtn bike trail, turn right and follow this trail a short distance until you reach a T intersection with a double track trail (see photo). Turn left and follow this double track trail, it is an old ranching road that takes you passed an abandoned stock watering trough(photo), and northeast to the Turks Cap. Enjoy the easy walk through a magnificent stand of Saguaro Cactus, with awesome views of Superstition Mountain. As you get near the Turks Cap, the trail comes to a T intersection with an ATV road, follow it to the left, soon crossing the Lost Goldmine Trail. Continue passed, heading north, to the bottom of the ramp end of the Turks Cap. The ATV road bends west and into a flat open area. Turn right, walk into the open area, at the west end base of the Turks Cap. Look carefully to the east side of the open area for a large cairn and the start of the trail. Follow the trail east to the top. There are lots of rock cairns to direct the way. Return the way you came, or via the Lost Goldmine Trail if you prefer a loop.”

Of course, we got lost because I did not remember the directions above, nor did I consult the app on my phone at critical junctions. Here’s our path from my phone app:

You can see the false “dogleg” on the left-hand map. When we got to the base of the rocks, Buddy could not continue. Too many rocks and ledges. So, I continued alone. After getting off the trail on the way up, I made it to the second highest elevation at 2,600 ft. You can see the peak at 2,776 ft in front of me below.

All turned out well at the end. We made it down and Buddy got his coffee.