All Forum Posts by: Jonathan McEntee

Ya they usually come with large transfer/capital improvement fees. Just trying to dig in to why some investors prefer to invest in 55+ communities. It's obviously a seasonal thing. More sales happen towards the end of summer, but some investors buy all year long. 

Good morning everyone!

Just wanted to get some insight from investors that have or are currently flipping and/or renting properties in 55+ communities in Arizona. I work with hundreds of investors across the state and a majority stay away from 55+ communities. The obvious con I see is that your target re-sell market is smaller and HOA's can be high with strict regulations. But what are some pros? Why do some investors prefer 55+ communities? Any feedback is greatly appreciated. Thank you.

Happy investing,

Good morning everyone!

Just wanted to get some insight from investors that have or are currently flipping and/or renting properties in 55+ communities in Arizona. I work with hundreds of investors across the state and a majority stay away from 55+ communities. The obvious con I see is that your target re-sell market is smaller and HOA's can be high with strict regulations. But what are some pros? Why do some investors prefer 55+ communities? Any feedback is greatly appreciated. Thank you.

Happy investing, 

Thank you for the advice Sean! 

I have a condo available in Old Town Scottsdale, Arizona minutes from Honor Health. Do any landlords in this group mid term rent to traveling nurses in this area?

If so, are you seeing better returns than LTR? Vacancy rate is clearly more of a concern, but rent can be nearly 50% higher /M.

Sharing of any personal experiences is greatly appreciated . Thank you.

Hi everyone,

Im curious to receive some insight from local Phoenix/Scottsdale Investors & agents what they are noticing is the smarter rental investment strategy for townhomes, condos, & smaller SF properties in 85252, 85250, 85258, 85253, & 85018 areas. 

LTRs, Month 2 Month, or STRs? (ROI, $on$, cap rate, maintenance/management, etc)

I'm a local scottsdale REI agent always looking to gain knowledge from first hand perspectives for all types of situations. Sharing of any personal experiences are greatly appreciated:) Thank you.

A lot of factors come into play when pricing an off-market deal. Recent comparable sales +- condition, market trends for the area (up or down), ARV &/or rent rates depending on if it's a rent or flip play, equity in the home, DOM of comps, type of buyer/investment strategy the property attracts, etc. In summary, every deal is different from the next. It all depends on what type of buyer would be interested and what they would buy it at. It obviously has to make an investor money ! so figuring out what type of investor it attracts is one of the main factors.

From what i'm seeing in the Phoenix, AZ metro market is that it is vastly oversaturated with STRs. Ive heard it has been very hard for STR owners to get dates booked, especially in Scottsdale. Any current STR investors have any insight on this trend? Is moving into LTRs the smart play since the IRs are forcing more people to rent rather than buy?

Hi everyone, I'm curious to get insight from experienced investors on their most effective strategy in finding off-market/discounted deals. Wholesalers? Door Knocking? Agents? What has worked best for you in finding legitimate profitable deals? Thanks in advance.  

Hi everyone, I have a 4 bed, 2.5 bath SFR home in North Phoenix that is 95% done with a current remodel. It is zoned R4 with a 692 ft2 addition was just recently added that could make it a Duplex if you wall it off. The property has dual driveways with RV gates on both sides of the house perfect for a 2 unit MFH. Do you think it would be wise to convert it into a duplex with two 2/1 units? The front unit has the kitchen. You would have to take out the half bath and laundry room or scale down the master to make room to add a kitchen for the back unit. Comps for units this size in the neighborhood are renting out for $1500-$1800 each. Leaving it as a single fam would rent out somewhere between $2500-$2800. The units would be a little under 700 ft2 each. I'm deciding whether to sell it as is, convert it to a duplex & sell, or hold & rent as either. Currently priced at $379k as is. Let me know what you think would be smart to do. I can provide more info if need be. Thanks