All Forum Posts by: Jared Smith

I've never sold. I buy and accumulate more over time. Cost of materials and labor will continue to rise and demand far surpasses supply. My philosophy is buy and hold forever.

@Nathan Gesner If I was still living in CLE I would try that route, but best for me to replace as I am fortunate that this will be my only expense this year on this property (knocking on wood!) Thanks!

@Matt M. Thanks for the info! It looks pretty old and rusty. The 2nd time I lit the pilot light it stayed but I'd rather replace it now and not worry about it as it works for 2 separate units and +11 years. I would most likely go that route if it wasn't that old already. Also thanks for the info on a 30 gallon being more expensive than a 40. Most likely the reason why I only got quoted $1349 for a 40 gallon only. Thanks again!

@Nathan Fisher thanks for the advice/info. BTU is charging 99 per furnace cleaning which I have 2 and seems reasonable and I haven't done so will move forward with that. Also it is a 40 gallon White Bradford - Is that a good one and is it much better for a 40 gallon compared to a 30 gallon? Good call on price as labor/parts/removal/taxes all-in is $1349. 

I re-lit the pilot light and it went out again, so I need to replace my 30 gallon hot water tank from 2010. 

BTU is getting me a quote but curious if anyone knows another good vendor? Also if upgrading to a 40 gallon makes sense for 2 upstairs units and what people are paying these days? (I replaced a 40 gallon hot water tank in AZ for 900 but that was last year) Lastly, do people get annual cleanings for their furnaces?

Thanks in advance!

I have a great tenant that has been wonderful. They are asking to get the non-working fireplace working for the winter in Cleveland, OH. Does anyone have a vendor or experience with this? Also curious on any experiences dealing with this - thanks in advance!

In the first half of the year prices have increased more than 11%, well above the broader inflation rate. Now, rent prices in 87 of the country’s 100 largest cities have fully returned to pre-pandemic levels.

The website Apartment List explained some of the trends behind the trend.

• Moving out: During the beginning of the pandemic, young renters left the big city to hole up with their parents. Now, after one too many times being asked to empty the dishwasher, they're looking for their own places.
• Buying a house is too expensive: Skyrocketing housing prices are causing some would-be homeowners to choose renting instead.
• A sense of urgency: People aren’t browsing Zillow to pass a slow day at work—they want to rent right now, crowding the market with high-intent customers.
• There isn’t enough housing available, which, of course, drives up prices.

Bottom line: “When it’s all said and done, 2021 will go down as a year when housing affordability went from bad to really bad, especially in mid-sized markets,” per Apartment List’s Rob Warnock.

All - thanks for the input. I ended up getting a carrier hvac system for 7817 with a 10 yr manufacturers warranty on parts. I could've gone with a lower end unit but I plan to hold this home for the long term. Also there are price increases coming this fall and I had tenants that needed this fixed asap as temps are +100. They brought a portable ac unit to cool the home until they installed it 5 days later. Now I won't have to worry about it and I have very happy tenants. Came with a free ecobee smart thermostat. I will keep this all in mind with other units as this is the first HVAC system that failed this badly on me.

@Mike Schorah Thank you! Yes I do but now only from my personal network. I have specific criteria that I will never color outside of the lines for. I recommend leveraging your network and when you find good contractors/vendors, pay them well and put systems in place for everything. Just like an airline pilot if something guys wrong, there has to be a procedure put in place for any type of situation so it's a streamlined process. Once you go long distance on REI, you can enter any market as long as you have the right Agent/PM/GC/Lender. Good Luck!

Welcome to Mesa, Arizona – Facebook!

The new Facebook Data Center will create 100 jobs, invest $800 million into the state, 450 megawatts of new, renewable energy projects, 200 million gallons of water a year will be restored and 60% less water usage than the average data center.

KORE Power will be the first lithium-ion battery manufacturing facility wholly owned by a US Company is coming to Buckeye, AZ.

Arizona is the #3 state in the nation for job recovery per AZ Office of Economic Opportunity.

Arizona is in the TOP 10 states for economic momentum per state policy reports, 2020. Arizona’s economy is diversified across high-tech industries, and with a simplified tax system, booming employment growth and surging population at an average of 238 people every day, the state is nationally recognized as one of the best places for business.

Taylor Morrison (a client of mine) has enough land to build for the next seven 7 years. They do limited releases for 6 lots per month for premium lots, then next month they increase prices on less desirable lots until they are sold out. The model home will be sold last with all of the staging furniture that you cannot buy retail, so it comes with a hefty price tag of 1.5x compared others in the same HOA Community.

It is still a seller's market at 1.1 months inventory for entry level housing which is characterized by under the average median price for SFH's at $445,000.

Do not let the last housing market crash scar you from investing now. All economic indicators are showing a bright future for Arizona Real Estate which is why I have focused all of my attention here compared to Ohio.

If you have any questions on AZ REI or any insight please leave a comment below!

Happy Friday – Jared