All Forum Posts by: Jeremy Holden

@Grant Schroeder

@Grant Schroeder

I'm looking to connect with Midwest agents in cities like Indianapolis, Columbus, Cleveland, Cincinnati, and Louisville... My portfolio is currently in Arizona and would like to diversify into the Midwest rapidly in the next 12-16 weeks. I have an idea of the general macros trends since it's easily accessible online. What I really need is a professional who knows the area from an investment perspective. My criteria top criteria for an agent is they invest themselves and has a network on the ground (PM's, Contractors, Lenders...). 

Who can help out?

@Grant Schroeder

@Danielle Henderson 

Im an investor and agent in the market here. Tavan Skaggs might be able to help - he's out of tempe.

Here's his profile: https://www.biggerpockets.com/...

Im an agent and investor in the Phoenix Market. 
Some things to consider around the country: 

1. 75% of millennials are renting.

2. Fannie MAE and Freddie MAC FHA programs are back in full swing.

Millennials are going to flood the market after the next 3 leasing cycles - 1/1/23, 6/1/23/ 1/1/24. They are going to be in the start home market (median to sub median price ranges). They are going to happy paying themselves equity and getting out of the renter cycle. As a result, the luxury points of the markets are getting decimated (esp here in Phoenix). Price cuts in the luxury range in Phoenix start at 50K and have gone all the way to 500K cuts for properties ive seen. The sub 500K market here, which appeals to FHA and millennial buyers, has higher trading volume, less days on market, and is more resilient to price shocks. I will say they are still sitting for 60 days, but the price cuts are in the range of 10K - 50K tops. From an investment standpoint, there will always be demand in the median part of the market for renters as well.

I'm an investor and agent in the Phoenix area. I am yet to work on a deal where solar added value. In most cases, its added extra utility and maintenance costs along with other unforeseen headaches. 

Hey @Jaxon Drake, Im an investor and agent over the metro Phoenix, AZ who gets this question pretty often. Arizona is one of a few states where tax assessments are not changed upon the sale or title change of a property. 

Hey @Erin Dorsey Robinson, Im an investor and agent down in metro phoenix who deals with this question a lot for my own portfolio and my clients. The first thing to consider is whether or not rental increase restrictions exist in your market. Secondly, you need to consider the opportunity cost of hiking rents. If you are hitting your cash flow goals with good long-term tenants, you run the risk of driving them away by hiking rents. 

Some questions to ask yourself: Are these tenants time intensive? Do they put a lot of wear n tear on the house? Can they reasonably afford the potential increase based on their income reported during the app process? What are comps renting for in your micro-market? Are you ok with having a short vacancy period to increase rent?

Hey @Denise Ford, Im an investor and agent down in metro Phoenix AZ. Feel free to shoot me a pm for GC recs