All Forum Posts by: Grant Greene

Tonya, I think the biggest question you want to ask yourself is this: "Is demand for this property going to grow/increase in the next 5/10/15 years?"  I have my own opinions on this, but I don't live as close to AZ City as you do - your insights are much more valuable.  On another note, have you looked at investment properties in other parts closer into the Phoenix metro area?  You might be surprised to find what's available. 

Welcome to BP, Sonny!  We work with a lot of investors and should be able to find some people for you to "interview" to determine if they would be a good fit for your endeavors.  Shoot me a note with your contact info so we can connect directly. 

Taylor, I'm happy to help refer you to a number of agents who work very well and diligently with investors like yourself. Drop me a line with your contact information. 

As a parent, I want my sons (I'm not sexist - I have no daughters) to be better off and do better than I did.  I think that's a natural inclination for most parents.  With that said, I'm all for helping them achieve that goal by providing them with insights gained from my own experiences and looking out for opportunities that they can use.  What drives me crazy (call me jealous if you want) are the people who just hand everything to their kids - there's a difference between giving someone a boost to climb up to the next level and buying them a helicopter and hiring a pilot so they can completely forego the climb and any hard work needed to make it to the top.  I'll get down off my soapbox now and get to my point. 

What are you doing to help your daughters and sons become financially independent at a younger age through Real Estate Investing?  I'm looking for any and all suggestions - that's the reason for this forum, right?  As a lender, I know I have a lot of vehicles available to investors that are helpful in getting parents to assist their kids in this, and I look forward to sharing my expertise with anyone, but I really want to know what you're finding or have found to be a successful and meaningful learning experience for your kids in this arena.  I'm all ears!!!

David, we work with a lot of investors whose go-to-market strategy heavily revolves around the rental market for the UofA students. If there's any question I can answer for you, feel free to reach out to me. 

Grant

Welcome to BP! If there's anything I can do to help you (from one AZ guy to another), please let me know. 

Grant

Chaim:

Good evening! Denise Calabrese makes a very good point about the Reno/Sparks area.  The only item of caution I would add to that point is to be VERY careful of the area in which you invest. There are some great areas in Reno/Sparks that will be ideal for investments, but there are also a lot of other areas that will have similar prices but should be avoided.  I won't list those areas here -  I don't want to come across as a "hater" - but I would recommend connecting with a realtor who knows that area. I know one whom I would recommend without reservation. 

As for the Arizona area (my backyard), the same can be said - again, a knowledgeable realtor is your best best.  If I can be of assistance in either area with a recommendation, feel free to send me a message. 

Grant

Not all upgrades are the same – nor are they worth the same in the eyes of an appraiser. For example, a brand-new HVAC system will most likely be able to get a dollar-for-dollar reflection in the appraisal. If you already have a swamp cooler: definitely install the new HVAC system but keep the swamp cooler, also.

Another dollar-for-dollar upgrade is a garage. This applies either to the costs for enclosing a carport or building an entirely new garage onto the property itself. We’re a car culture, and the appraisers know it.

Here are some other upgrade items that generally fetch consideration from an appraiser in the ballpark of $.30 to $.50 on each dollar spent:

•Kitchens 

•Pools 

•Bathrooms 

•Windows 

Hope this helps!

Sam:

I know a man who's been in the housing industry all his life (quite literally).  He can certainly help you find a good, reliable contractor.  Shoot me a message, and I'll connect you with him. 

Grant

Raghu:

Welcome to BP! This is not a seamless plug - I would be willing to bet anyone on this site would agree that this is good advice. : )

I would highly recommend, as you start on this REI path, that you meet with a financial or mortgage pro (I would actually recommend you meet with a number of them). Share your short- AND long-term goals with them so they can help you put together a plan that will help you achieve those short-term goals and reap the proceeds that will fund your long-term goals. We work with a lot of investors like yourself, and I'm confident we can give you good guidance. Nevertheless, I would reach out to some fellow investors who have been successful and ask them for a referral to their mortgage professional. The best part is this: a consultation with a mortgage pro is FREE.

I wish you the very best!

Grant