All Forum Posts by: Amber Boskers

@Sienna Parker

Hi Sienna,

We started investing in the Arizona area when the market tanked. We are Canadians and came in with cash (the Canadian dollar was worth more than the U.S. dollar at the time) back in 2010. A bad market in an area can be a great opportunity for investment, depending on your timeframe and goals. We loved Arizona so the location was a no-brainer. We found a great agent who taught us alot about the purchasing process and buying smart.

A few years later I learned about wholesaling and gave it a go, I got my first deal from a no-nonsense FSBO from Craigslist.

While I did that I was also doing a full renovation on our primary residence (while living in it). That was quite the learning experience!!

We are permanent residents now - I have my real estate license and work for an amazing brokerage. I help people find, buy and sell properties - especially investment properties, and also gives us more opportunities to add to our investment portfolio.

Whatever you decide to do, do your research, ask questions and then go for it!!

@Raphael Abreu

In my opinion, the best policy to have as a real estate agent is to disclose, disclose, disclose. Good luck to you!

@Brandon Wulff

Hi Brandon,

I'm a Phoenix investor and Realtor in North Scottsdale. Sounds like you have an awesome plan that you're ready to proceed on... the rental return should be really good for you. My initial suggestion would be to consider properties with no HOAs as many have rental restrictions in their cc&rs. That-being-said, gated communities do offer additional privacy that may be of importance to you. It all comes down to the kind of property and features you have in mind. How close to the facilities are you hoping for? Widening your search within a 15-20 minute commute would definitely open up the options for you. I'd be happy to set you up with a search and answer any questions you may have.

@Maria D.

Congrats on your 1031 sale! I'm an investor and Realtor in metro-Phoenix and am quite partial to the area here but there are many areas throughout the country (Texas, Tennessee, the Carolinas, Nevada, etc.,) that are investor friendly. It just depends on your goals and what you are looking for. In less expensive areas (like Phoenix) you could split up your 1031 funds into multiple properties, find a property manager (I know a few), get tenants lined up (we have ALOT here), mortgage the properties (we work with the best in the state, with great interest rates) and then enjoy the cash flow, tax breaks and appreciation. We have about 300+ people moving into our county every day (employment is booming) so housing is in high demand. You are in a fabulous position but the clock is ticking for you to find your new properties. I'd be happy to help answer any questions you may have about Phoenix. :)

@Trevor Bragg

Hey Trevor,

I'm an Arizona SF investor and Realtor in North Scottsdale... like other members have posted, inventory in metro-Phoenix is very tight. We are short 70% of available inventory to meet the real estate needs for our current population... which doesn't include the 300+ additional people moving into the area each day. Duplexes, triplexes and fourplexes come and go faster than a monsoon storm so being financially ready to jump ahead of time is paramount... the spring market is right around the corner and inventory will definitely pick up. I have a handful of wholesaler agencies that I check in with, MLS, online sites, Craigslist, plus FB groups, other agents and BP that I utilize to find properties for my clients. I'd be happy to help you with your search.

@Amber Boskers

*personal

(Darn typo)

@Matt Carroll

Hi Matt,

Yes, you can, but it doesn't have the same impact. Good debt enables your money to work for you.

Let's say you have a property that's free and clear, your primary residence perhaps, the equity in your property is basically parked until you go to sell it. It's just sitting there waiting for you to do something. Good debt like refinancing or getting a HELOC to buy more properties enables that equity to work towards increasing your portfolio. You can now take that money out and purchase (+ renovate) more properties with cash. You can sell the properties for a profit or buy and hold for awhile then refinance them to pull out more cash to continue the process and even pay back the debt on the primary. Your tenants pay down your debt while your money works for you to accumulate more properties. If you try to do it with no debt you can still grow your portfolio but it will be at a much slower rate. David Greene does a great job explaining this in his BRRRR book.

Your safety net comes from your established reserves for each property... many investors do 3 months (banks like that number), while others have whatever number works with their business plan.

Good debt becomes a machine that moves you forward toward personsl wealth faster than no debt.

@Amanda Fardella

Hi Amanda, In my opinion, when building your buyer's list you have to provide something of interest. I got my first property under contract before I worried about a buyer's list... probably not the smartest choice but it worked for me. Once I had the property under contract I had something of interest to offer buyers. I made up a For Sale flyer with pictures, info and price and then sent a copy of it via email, text and FB to every local wholesaler I could find in my area. Thanks to Google I was able to find alot of them. Two replied which was followed by a bit of a bidding battle at the property. I assigned the contract to one of them on the spot and he handed me his earnest deposit right then and there, which I drove over to a title company. The owner got exactly what she wanted, the seasoned wholesaler/real estate investor/agent/buyer got a great property to fix n flip (for a nice profit), and I wholesaled my first deal... and added a few names to my buyer's list. It might work for you too.

@Beau Pearson

We get regular bees and migrating bees here in Arizona all the time. The first thing you have to determine is if they are passing by or moving in. Some swarms will linger around for a day or so then will continue on their trip, while others will move into an area to stay. I suggest protecting your investment by taking care of it yourself rather than leaving it to the tenants. If you feel like preserving the lives of the bees then there are bee services that with move them. If you don't care then treat the area with bee killing sprays from your local home improvement store or have a bee service do it. I've done both. Evening or early night time is the best time to take care of it yourself. Good thing they aren't in the exterior walls or in the roof of your house. If the bees and their honeycomb aren't removed property the honey can cause damage and/or the bees will return next year. Good luck with it.

@Jason Clark

Hi Jason,

That's great to hear! Finding the right place to start over can have its challenges yet bring lots of excitement. Our motivating factors were: a direct flight from where we lived; inexpensive properties (we started buying in 2008/09); and good neighborhoods with above average rents. Arizona is great (if you can get used to the heat), many of your fellow Californians (and New Yorkers!) are doing what you're doing or have already made the move. If you need an agent, I can help you. :)

Best of luck to you on selling your CA properties and moving to a new area - wherever it may be!