Phoenix

[Joe Delia]

How are people doing in the phoenix market currently? Looking to fix and flip out here. My first property in this area should be completed by August 21st. 2 weeks from it's purchase date.

[Gregory Childs]

Our recent experience with three props in Phoenix was not good. Especially compared to what we were able to achieve in Atlanta/Chicago.

The attached article sort of explains our dilemma

http://www.altosresearch.com/customer/Altos_Research_National_Report.pdf

We weren't as smart in our buying as we usually "think" we are - and then the market dropped 7.41% total over the last three months (while rehabbing) and the invetory rose 5.7% to add insult to injury.

So our Cinderella turned into an ugly sister! If we can get out for what we have in the properties I will be happy. If I remember correctly, that isn't real estate investing 101! Oh well.

Greg