All Forum Posts by: Cole Maurer

Hello Mohammed! It depends on each state and their specific laws regarding earnest money. Refer to your local agent for specifics. However, one day prior to closing would indicate to me that all contingencies and due diligence periods have been passed and completed and your earnest money may now be legally kept by the seller for a termination of the purchase. Best of luck, I hope it works out for you! 

Any interest in a portfolio of 26 SFH that are organized as STR and LTR? There is a decent portfolio for sale in AZ now. Let me know if you want any details! Thanks and loved your post.

Hey Benjamin! 

I would like more information on these properties! Could you DM me some details if they are still available? 

Thank you, 

Hello Michael! 

Have you considered a house hack? Buy something using a loan that you would only need 3% down or so and rent out a portion of the home? I’m an agent in AZ feel free to contact me with any questions! 

Thanks and best of luck! 

Hey Tyler, 

I would say your biggest risks are lack of care and maintenance on the property and potential short or late rents. 

College towns tend to party as we all know. That can lead to a lot of issues regarding damage to the home. 

Short or late rents, as young adults will do, they move in with new spouses and friends, things happen during their time, fights and breakups. That could lead to people moving out and the ones left not being able to cover all the rent. 

I would focus on properties in the area that would target more of the staff, workers, and hospitality employees. These people may not be attending school and taking part in extracurricular activities. 

I still think student housing is a worthwhile investment, a lot of these young adults do come from well-off families and should help you get a great stable return. If you wanted to buy homes for the actual students to rent, I would just ensure that you add extra padding to your cash flow requirements to cover unexpected issues. 

Best of luck to you! 

A realtor is a tremendous tool. Not to mention a free one when you are using them to help you buy a home. 

A good one can..

Find properties and get showings

Source off-market deals through other agents or their sphere

Refer you trusted vendors from lenders to contractors and everything in between

Negotiate and advise you on the best deal

Creatively help you navigate challenging situations

Advise you on home values, and rents/str rates

Advise on best areas 

They are supposed to be an expert, and many of them are. Even big investors on BP like Brandon Turner, trust and use an agent.

Also, clients going at it alone can tend to sell their homes for less than its worth or not get the most advantageous deal on the buy side. Also, other agents may not take an unrepresented party as seriously as if they had a reputable realtor. 

If you're buying a house like I said an agent is free to you. And a no-brainer and may be worth their weight in gold if they are a good agent.

Lastly, ultimately they are there to protect you. A solid realtor knows the transaction through and through and exactly how to protect their clients during the complicated situations and paperwork that come with a real estate transaction.

I encourage you to interview several of the top agents in your area and ask the questions that best fit your investment or selling needs to see if they are knowledgeable and a good fit for you.

Best of luck! 

Hello Joseph. Try a company called ilovescottsdale.com

They are responsive and have flat STR fees with no hidden surprise fees. They can also prepare STR estimates for you as well

Best of luck! 

Hello Alex, 

I am looking at growing an investment portfolio. Im an agent in Arizona. What are you looking to accomplish with your investments? 

Thank you

Hey Ryan, 

I am an agent in the Scottsdale, PV, Cave Creek Phoenix area. I fell confident in the market and I expect the rates and economy to slow down our market and help us normalize to a proper appreciation and inventory levels. AZ is in demand, people are still moving here and the city is still growing. All of these as you know are good indicators for a market to be invested in.

I think that you can find what you're looking for. I just ran across a great duplex in N Phoenix for $659k the other day that would make a good rental property. Also, consider expanding out to areas slightly less popular but being built like Goodyear and Queen Creek. As mentioned on a BP podcast, the epicenter of prices will usually expand outwards in hot markets because of affordability. So I would start thinking about areas that are next to be the beneficiaries of this expanding radius. Thus, on the lower cost side, I would start looking at some of those outward cities like Goodyear, Avondale, Litchfield park, and Queen Creek. Hope this helps! 

Best of luck and you can reach out to me anytime. 

Hey Brian! 

I would look in Scottsdale, Cave Creek, Carefree, N. Phoenix, Paradise Valley, Tempe, Flagstaff, and Sedona for STR (AirBNB). I would strictly look at homes with no HOA and also keep an eye out for deed-restricted STR as a part of an individual property's CC&Rs. I saw that you are considering $600k so I would focus in more on Tempe & N.Phoenix.

If you want to consider vacation rental, like 3-month leases, for the high/low season rental market here in AZ, that would open you to condos and townhomes that typically have HOA's and 30-day minimum rental periods. These would help you meet the $600k range easier. Let me know if you have any questions. Best of luck!