All Forum Posts by: Justine Phillipson

Hi Iman, 

Congrats on being ready for your 3rd property! I am a licensed agent, investor and I solely focus on selling off-market deals. I will send you a message :)

Quote from @Cédric Le May:

Thank you for your comprehensive and interesting response. I think we missed the opportunity to invest in Phoenix a few years back, just because we didn't know where to start, had no connections and we simply gave up. But now, I believe I have the right amount of motivation to educate myself , start connecting with people, and learn from communities like this one. 

I wish you the best of luck in your projects Justine!

The best time to get started is always as soon as you are ready- both with finances and education. If you start before having both of those foundations strong, then things will go wrong. You can make a profit in any market, you just have to adjust your investing style to the market :) 

You got this. Best of luck to you too! If you ever want to explore more about investing in AZ, please reach out. I would love to partner with you.

Are you looking on the MLS? It's hard to find a turn-key cash-flowing property on the MLS. I would recommend working with a wholesaler to find off-market deals.

I would buy a property that needs a little bit of work, and then use a hard-money loan to pay for the property and the repairs. Then I would do a cash-out refinance, rent it and repeat :) 

I specialize in investment properties and would love to help. Send me a message if you're interested in learning more.

Quote from @Cédric Le May:

Thank you all for your insightful posts, that is inspiring and wish you the best in your respective careers/journeys, and wish me the same success as yours. I started to read the books I have been suggested and so far, they are eye openers. I will keep on browsing this forum and discussing with so many talented and successful people. Again thank you!

@Justine Phillipson, would you say that, with the development of the TSMC manufacture in the NW of Phoenix, the house market is blooming ? What are your feedback on that?

 I solely work with investors, and I only sell off-market deals to investors in Arizona. I don't work with any residential family-home buyers, so I can only speak from an investor's perspective. 

But in general, Phoenix and surrounding areas has seen extensive growth and appreciation! TSMC has contributed to this, but population growth and travel have also been a big factor in the appreciation of real estate. While most of the investors I work with are local, I have met a lot of out-of-state investors buying in Arizona too. 

Since home prices here have gone up, most of the investors I work with are just doing fix-and-flips because they have a higher ROI. Cash flow rentals are more challenging to find now, but still very possible to find!

If I still lived in SoCal, I would still buy out of state. My husband and I are actually in escrow on a duplex in Tulsa, Oklahoma right now- but that's my husband's project haha. His mother manages our Tulsa rentals :) He has one other Tulsa property, that he has had since before we met. I had my Indiana properties before we met too. 

But since I am now an agent in the wholesale space, I plan to focus on local investing :) Hoping to do my first flip later this year. 

Hi Farooq, 

100k is more than enough to get a great rental property in AZ. I recommend finding a property that needs some updating, and not not using conventional mortgage- but rather a hard-money loan. That way you only need about 10-20% for the down payment and the hard-money lender will cover the rest AND they will cover the cost of repairs. 

After the repairs are done, I would recommend refinancing into a traditional mortgage and paying off the hard-money loan. When you refinance, you can cash out the equity you created and roll it into your next investment property. This is the BRRRR method that investors use to be able to scale while using the least amount of their own money out of pocket.

I specialize in investment property sales in Arizona. If you're interested in discussing more please send me a message. I would love to chat further!

Hi Cedric, 

When I bought my first two rental properties I was living in San Diego, CA. I couldn't afford that market, so I invested out of state and bought two properties in South Bend, Indiana. 

No regrets, they have been great properties and I am happy I was able to get my foot in the door with REI.

4 years later, and I have changed careers and am now a Real Estate Agent and living in Phoenix. I do not plan to buy anymore properties in Indiana, and plan to do all my future investing locally. But I am still happy that I bought out of state. Just make sure you find a really great property manager.

Golf in Arizona is VERY popular! But one thing to consider with Arizona is that golf tourism is seasonal (winter & spring are very popular). But the Summer and Fall it is 100-120 degrees every single day, so many people are not golfing. There are a TON of other great things people travel to PHX and Scottsdale for, but if you're focus is solely golf tourism then you might want to consider an area with a year-round demand.

Hi Bill, I used to live in San Diego. I lived in San Diego when I started investing, and I chose to invest in turn key rentals that were out of state! The price for entry in San Diego is really tough. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $70,000
Cash invested: $17,500

Buy & Hold Single Family Rental

Great deal! Congrats on getting started. I also invest in Indiana, such a solid investing state! 

Did you consider using hard money for this purchase? Would you consider in the future?