All Forum Posts by: Jake Kain

I use Kris Houser with Insight Real Estate Inspections Inspections. Kris is the owner and is absolutely fantastic! He does the majority of the inspections for my clients that don't already have an inspector to use and I also hire him for all of my personal purchases.

https://insightinspects.com/

Kris Houser - 623-297-1584

@Jesus R.

Are you willing to buy in a down market, watching the value decrease after you buy it?

A lot of people are saying they don't want to buy at the top, which makes sense at surface level. So, they say they are wanting to wait for a crash. What they really mean is they want to wait until a crash and then keep waiting until the prices hit a floor and start to rise. The best time to buy is at the bottom. So not only do you have to time the peak, you have to time the bottom as well. The real question is, what are you missing out on by speculating and waiting?

What are your goals? When you say buy, do you plan on buying a primary? Buy and holds? Single family or multi? Getting financing or paying all cash? I really hate giving the "it depends" answer, but.. it depends.

I can tell you my "it depends" answer. I am buying. Why? because I am financed and interest rates are at historic lows. The hardest part about the market is to find something to buy, and buying a "good" deal is even harder. However, when you look at how easy it is to get cheap money, Phoenix appreciation and my short and long term goals. It does not make sense to wait. My main goals are to flip and brrrr, right now. That may change, depending on how the market swings.

Hope this helps a little. Feel free to reach out, I am happy to share more in depth info and experience if you'd like!

@Tara S.

Unfortunately I do not know of any meetups going on this week. If you guys want to get together I can try and put something small together with some of my closer network. I will shoot you a PM.

@Derek Sorto

Welcome to BP and Glendale/Phoenix. I am also in North Glendale/Phoenix area. As an agent and investor, I always love connecting with contractors and HVAC is a big one here. Let's connect!

@Danny Smith

Welcome to BP! Love your story and your energy. Wish I would have known the things I do know when I was 20. Keep that fire and you will definitely reach your goals. Once you are ready to start looking at AZ let me know, I would be happy to help however I can.

@Alex Mora

If you want some insight on Phoenix and the surrounding areas, feel free to send me a PM. I am happy to help anyway that I can.

@Garrett Pickering

Arizona is very much in a seller's market right now. However, that does not mean it is a bad time to buy. Interest rates are still at historic lows, and the amount you can afford because of that, is higher. Obviously, timing the market is impossible and everyone has their opinions. I have seen many BPers over the past few years debate when the next downturn will be. We are in unprecedented times and no one has a crystal ball. When you look at the data that the Cromford Report studies and the information they provide, their predictions of things slowing down anytime soon seem very slim. Also, continue to listen to the BP podcast and others to get boots on the ground update on what is going on in markets across the country.

Ultimately it depends on your goals. Everyone says they want to buy in a "buyer's market" but what they really want is to buy at the end or near the end of a buyer's market, before prices start to climb again. No one wants to buy a house, then watch the value continue to drop. Unless, of course, your strategy is long term buy and hold and you're sitting fine on cashflow and don't care about the property's overall value. Higher risk, as it limits your exit strategy since your property value is declining and you likely owe more than it is worth. As long as you can make that property sustain during the down, things will always rise again. You mentioned buying your first home, then also mentioned flipping. Does this mean your are interested in doing a live in flip/rehab? Will you be selling it at the end or keeping it as a rental? I would start with your end game in mind, then reverse engineer it to figure out the how and your next step.

All in all, I encourage you to figure out your goal for this house, build a criteria and stick to it. Analyze the deals, make sure the numbers work and avoid getting too emotional. It's harder to do on owner occupied homes, but keep the investor mindset and don't get fomo (fear of missing out) because there will be something that comes up and makes sense. As @Andrew Rosenberg said, deals can be found in any part of the market cycle. I am in AZ but not in your market, but if you have any questions, feel free to shoot me a PM. I would be happy to help in any way that I can.

Good luck!

@Austin Eberle

There are a ton available out there. Just be careful and make sure you vet your sources. I have been seeing a lot of chain wholesaling lately where I am getting the same properties from multiple people, all at different prices. It's a little crazy out there right now. There are still deals to be found, but they are usually gone within minutes.

@Eli Groff

Have you analyzed your current house as a rental? What are your long term goals with investing?

@Jason Gilmore and I look forward to seeing everyone! Hope you can all make it.