All Forum Posts by: Kirsten Walstedt

@Serge S. Did you guys ever have the meetup? When is the next one?

@Ben Wuollet It sounds like you have the right attitude and the right goals for your investors. The "wholesale" deals I have been sent in the form of newsletters and sponsored listings in the AZREIA often turn out to be at or close to the ARV of the property, which obviously doesn't leave any room for an investor. Also, some are still active on the MLS for less than the wholesaler offers them. They need to get them under contract before they advertise them or I could just go offer on the house myself.

@Matthew Coates Welcome to BP, Matthew!

@Serge S. Hey Serge, what 's hot in Pinal if you don't mind my asking? I'm nowhere near ready to settle into cashflow and anything outside Phoenix and Scottsdale is outside my comfort zone for the forseeable future. But I am curious about areas that other people are doing well in. I've only lived out here two years so I don't know anything about Pinal County. Outside Maricopa County, I've been to Sedona and St. Johns (the latter was 25 years ago.)

@Richard Bell Hi Richard, I would love to have a group like this because this is exactly what I am wondering prior to doing my first flip! I am looking at various houses and then imagining what products I would use to do each room. For those who say not to waste time planning reno and decor for a place not under contract, I understand that in the normal course of things when you are up and running and doing flips regularly. But for me it's a way of "rehearsing" doing my first flip which I think will actually help me get to the point of doing it.

I am going through listings of potential flip houses and narrowing them down to 1 or 2 out of hundreds that I think would be perfect for me. Then I go through each room and make notes on what I would do with it. Finally, I am browsing the various items available around here to try to get a sense what I would spend on these things. This of course does not include any architectural work I might need and any repairs that came up at inspection.

I would love to have lists of "go to" flooring, fixtures, paint colors, etc. to start with for any price range. Would be great to have several options in each as well. I even have priced out landscaping and various trees and plants that grow well here. For a lower end house I still don't want to go with the rock bottom cheapest of every item. That just wouldn't look good and it would be obvious that I had done so. I still want to take pride in my work even if it's on a budget.

Phoenix/Scottsdale has an aesthetic I've had to learn from scratch and am still learning, having come from the Northeast and not having a desert sensibility.

If you start such a group, Richard, please let me know.

Also, please consider starting a second store here in the greater Phoenix area! I think you would clean up bigtime!

@Allen Barton @Derek Smith Welcome to BP! I haven't been here long myself, but have been avidly reading everything here for the last six weeks.

As you see, I am in Scottsdale, having lived here two years since I "escaped" from Manhattan for a break after 13 years and haven't gone back yet. My Mom grew up in Phoenix and lived all over the world, but moved back to the area in 2000 when she "discovered" Scottsdale. I came out here for a few months in 2011 and bought a condo that I turned into a vacation rental, so far my only investment property.

I am still trying to decide what my next investment will be. I work from home doing contract sales/bizdev for several internet companies.

I've been to one meeting of AZREIA and found it informative, though I was a bit shy about introducing myself to people. I need to go back! Also looking for a group in Scottsdale.

You will find many great resources on BP to help you figure out your niche, and many wonderful, generous people. Hit me up anytime, even if I don't have that many answers yet myself, I may be able to point you to something I have already learned.

@Patrick Shaughnessy Welcome to BP, Patrick! I am relatively new to REI and only have one rental here in Scottsdale. I lived in San Francisco for several years in the late 90s. I was just reading about the challenges in the rental markets of SF due to rent control, the Ellis Act, the way that many neighborhoods put the kibosh on new developments, etc. Is it easier to buy and sell condos there than be a landlord? I am thinking it must be. Is it hard for developers to get permits to build new condo developments? I have read that many investors buy condos in Phase I of new developments and can flip them for a huge profit by the time the whole complex is built.

In any case would love to hear more about your experience.

@Steve Babiak @Joe Gore

Am I right that auctions at AuctionDOTcom require all of the same due diligence as courthouse auctions? I will go read all the threads now...

I was going to post a link to an actual property that is being auctioned April 21 - 24, but something weird happened when I went there now. The AuctionDOTcom listing used to have the same picture and description seen here on Zillow:

http://www.zillowDOTCOM/homedetails/2417-W-Chipman-Rd-Phoenix-AZ-85041/67773992_zpid/

But I just went to AuctionDOTcom and there is a different picture there that doesn't look like the same house:

http://www.auctionDOTCOM/Arizona/residential-auction-asset/1714658-9877-2417-west-chipman-PHOENIX-AZ-85041-O452

Also, the original AuctionDOTcom link had said "schedule a showing today," which I thought was cool because I could actually view the inside before bidding. But that is gone now and it has a warning about not disturbing the occupant.

I am not so interested anymore, so I think I won't call my realtor's title person and research it.

One last question to anyone: do you think it is ever possible to get a house at 70% ARV at AuctionDOTcom or is the bidding so competitive that people bid it up past that every time?

@Account Closed I read that article today on lowest property taxes in the country and Maui was in the bottom four, so naturally I started wondering how Maui is for investments. Is it as good as Honolulu?

Sounds like California is a sure thing. Maybe I'd better move there and start buying stuff.