All Forum Posts by: Cody Barrett

Nice! This should be fun!

I think if the Real Estate Agent is doing a good job then this issue shouldn't be that big or common from your Client.  You should do a great job at presenting how the market is performing and detail the absorption rates in your market and what type of offers are getting traction. 

It does them ZERO good to submit offers on properties where they have no shot because of the competition. In an environment where the competition is little or none then low ball offers might have a shot after being submitted a few times and sat on over the course of its time spent on the market.... and thats if the property is on the MLS.

Right now....if one is submitting low ball offers then I'd assume the property isn't on the market and the offer is cash with super quick close. We are in a seller's market and in Az at least, stuff under 300k isn't lasting at all.... no way does any low ball offer stand a chance in this market here unless the timing is impeccable and the seller is in a weird situation. Sometimes a flipper might totally mess up their plans and dump an asset for a loss, which means your timing was amazing. 

I also didn't read much of this forum so I am sorry if one said something similar already.

Cody B 

I can relate with Cara's first post when the budget goes to 200k as that is what I had to do. I moved from WI and I definitely understand why you are looking to move ha! 

As Cara said, though, North Scottsdale is super happening. I used to live there as well, I rented an apartment and loved it.  No condo in the area was in my price range.  I upped it to 200k and found a condo near Desert Ridge Marketplace for 195k 3bed 2.5 baths 1600 sq ft.  Now I rent the other 2 beds to chop up my mortgage.  Its a great opportunity for me but I am also single with no kids so roommate are an option... But to the point, I am 10 mins from North Scottsdale and the cost of entry was considerably less just because I bought in Phoenix. 

Good luck! 

Might be best to find someone who owns or has owned those size buildings in the areas you are targeting. Use that 80k as part of the investment along with maybe a portion of their money to acquire the asset... Offer to do the legwork as he or she calls the shots. Give them a higher portion of the returns to sweeten the offer. Learn all that you can and eventually do it on your own. But at the very least I would partner with someone experienced if this is your first multifamily investment. There are just a lot of different variables that someone with some experience can help you watch out for.

I was asked by an applicant about a year ago and he asked to do just that. Shockingly he asked me straight up instead of signing a lease and doing it behind my back. He is smart, was money focused, recently graduated with a solid engineering job, and was thinking of ways to cut his costs. So he asked me if he could air bnbthe 2nd bedroom and cut me in on the profit.

It just spells trouble and the benefit for me was little to none at all. I can't imagine your average Landlord being OK with this proposition.

Hey Dominic! 

Congrats on jumping back in to build up a great future for yourself! Man, 19 and owning a home is truly impressive and now you can tap that equity and make your next move.  I am new to Arizona and just moved to Phoenix a few months ago.  If you went to the seminar, let us know how that was! 

Newer to the az market, very interesting market to be in. Fun post to read. There is a lot going on in the valley, seems like you'll come across a winner soon! Good luck out there and keep us posted if you close on one in the near future! 

Excellent work here.  This investment looks safe and a solid addition to the portfolio for you sir, thanks for sharing! 

Nice @Travis Konermann congrats to you on that accomplishment! I hope good things come your way. 

Thanks guys! Ended 2 more chapters today, knock another 8 hours off the 90 needed lol...