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Updated almost 3 years ago on . Most recent reply
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Rookie looking for advice
I'm military stationed in Anchorage, AK. I've Been looking for a house in the Phoenix area for the last 18 months and have lost out on approximately 12 deals. I know that buying in a hot market such as Phoenix, I'm at a total disadvantage due to not being boots on the ground there and not having a team assembled from the local area to rehab for a BRRR. I'm trying to stay positive and continue until I finally succeed on purchasing a place.
My wife and I are flying down next weekend for our second attempt being down there to really pursue this. If anyone has tips/advice I'd greatly appreciate any assistance or coaching. If anyone from the local market would be up for meeting up for coffee or anything, let me know. Hell, if anyone has a wholesale I'd be open to that as well.
Scott Davidson
Most Popular Reply
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@Scott Davidson I would advise finding an investor friendly realtor. You really want someone that invests in their market themselves and understands the numbers. They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more. The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route. If they just represent first time single family home buyers and aren't constantly finding off market properties and reviewing deals, you'll find a better investment through someone else.
- Joshua Janus
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- Podcast Guest on Show #1