All Forum Posts by: Lee Hines

Quote from @Lee Hines:

 Also....

 Apparently linking to a YouTube video by Bigger Pockets about this topic is not allowed.

 Also....

We have a group home for elderly on our street here in Tempe. It's definitely worth looking into. Lots of info is available on YouTube, but I think the real money is in operating the business yourself.

This video is a good starting point. 

Quote from @Scooter Williams:

I own 50+ units in Mesa for 6+ years. HMU, a lot of variables involved for your question. 

Mesa is a mixed bag, depending on where you are at and who you are trying to attract to your units. 

 Have you ever rented to Section 8 tenants in Mesa?

Phoenix, Mesa, Tempe, Chandler, Scottsdale... all of these places have multi million dollar homes as well as fairly run down neighborhoods with green pools and yards full of broken down cars. I have found a quick look at the satellite view and street view of a property will give you some idea of what the neighborhood is like. Obviously, this is not a fool proof method, but it can certainly be a starting place. 

The real trick is finding the cash flowing duplex for sale. Multi family properties I'm seeing for sale here are so overpriced that the numbers just don't make sense.

What's on the back side of where it's leaking? Can you not cut out the drywall there to see what's going on?

Insurance is typically going to cover a sudden and large release of water. Think broken pipe that floods the house. A small, slow, ongoing leak, is not likely to be covered. 

I had storm damage to roof on a house in Mesa a month or so ago.  I ended up repairing it myself, but after contacting multiple companies, I will be using Brown Roofing when I'm ready to replace the entire roof. They have a high Yelp ratings and had the most comprehensive list of included items. The sales guy was very upfront with me (said, "Yes, it could be repaired," when most said, it must be replaced. 

Brown Roofing

Jesse Coder

General Manager

0ffice: 602.626.5559

Direct: 480.392.1575

Quote from @Allyson Dohan:

New investor here, looking for my first rental property in the PHX area (preferably multi-family property or at least zoned that way). So far I've been looking at Camelback East Village and some areas of Uptown. Basically everyone has told me to not go south of Thomas Rd...Even south of Indian School Rd can be a bit iffy, depending on the block. Did a little tour when I was out there in early June and I can see what you mean about the extreme differences between adjacent blocks.

I hear Coronado and Garfield districts are "up and coming" but I'm not sure if I want to wait for that switch.

Also looking at Tempe and Mesa but just started searching over there.

What are your thoughts @Quintin Johnson ?

Most of metro Phoenix is that way.  It's very neighborhood specific. Nice houses a few streets over from not so nice houses. You can use the Google street view or satellite view to get an idea of what a neighborhood is like in some cases. 

This may sound goofy and perhaps too simple, but one hack I've found for checking out properties in Phoenix is to pull up the address on Google maps and then look at the satellite photos. You can usually tell pretty quickly if you're in a rough neighborhood. The yards are full of junk and the pools are green or empty. I know there are rougher neighborhoods without these things,  but it can definitely save you some time if you see the entire neighborhood is trashed.

Nice! Sounds like a well orchestrated deal.