All Forum Posts by: Kevin Ferris

Sign me up!  I am going to try to make the Sept meeting next week.  Looking forward to it.

I think it depends on your strategy.  Are you flipping, or fix and hold?  I do fix and hold, although I am a small timer.  This is just my two cents.

Cromford Report provides a tremendous amount of data.  I look at rent to sales price ratios, contract ratios, etc to determine the areas I target.  

Wow, Alan I'm so jealous.  Send me your tenants when they're ready to live in North Phoenix!

I greatly appreciate everyone's input.  They say experience is something you gain right after you really could have used it.

This is just our second rental property, but I'm having a hard time finding qualified tenants.  Am I setting my standards too high?

2000 sqft house, 3bds, 2.5 bath with a community pool, nice North Phoenix neighborhood, $1550 per month.  It's priced well, and others are renting out quickly.  Based on what I've read, we wanted at least a 650 credit score, and three times income.  We've turned down six or seven applicants already.  Only one met the credit score requirement, but income was only two times rent.  Most others were not even at 600 credit score.

Do I wait it out, or lower my standards?  Are there any decent renters in Phoenix?  Starting to get pretty frustrated.  They told me this was supposed to be easy!  j/k

Edgar, I have a license and I am always looking at properties. I'm in North Phoenix. It's tough finding deals right now that would be profitable. I'm not sure MLS is where are the deals are right now. The good thing about having access is that it's up and running 24/7. I'm assuming with your situation, you're going to want to look at a lot of properties in order to find one that will work for you. I find, having direct access is the only way to do it.

PM me.  I have some data on flipping in Phoenix that you may find interesting.  Anyway, good luck

Wow.  Outstanding.  Exactly what I was looking for.  Thanks Justin.  You da man!

Maybe a dumb question, maybe not, but I'm just getting started in direct mail marketing.

So I have a letter written up in Microsoft Word...I want to personalize them with the owners name and address of the property in the content of my letter.  Obviously, doing this for hundreds of properties is going to take quite a bit of time.  Any Word gurus out there that know of a quick hack?  I have my address / property owner list in Excel.

Is it more of just creating a master file the hard way, and then updating the file as you add and delete properties?

Like I said...might be a dumb question, but that's never stopped me before.

i have seen the property... it was previously listed as a short sale.  I live nearby, know the neighborhood.  I have no experience doing rehabs.  Just looking to buy and hold rental properties.

A little background on me. Realtor (3yrs), home owner in North Phoenix. Bought REO property in Scottsdale Sept-2012. Lived in it for a couple of years, now renting it out. Moved into a new Taylor Morrison home in North Phoenix 18 months ago. I like the Phoenix market right now. A lot. So we're planning to buy a few rental properties and hold for a few years.

Currently working on buying a short sale in Phoenix, waiting for bank approval.

Looked at another short sale that has since been turned down by the bank, and is now going to auction.  Looking to possibly buy it at auction.  I'm trying to find info on the process.  Could someone please point me in the right direction?  Do I just go to the courthouse and start asking questions?

I've tried searching these forums without much luck.  Maybe I'm doing it wrong.  Coffee or lunch is on me if anyone knows the process and is willing to let me pick your brain.  Willing to trade detailed market info that I have access to as a Realtor for info on the foreclosure process. 

Thanks in advance for any info or direction!