All Forum Posts by: Noah Corwick

Hi Sagar! 

I agree with the comments here as well, the 1% rule is not realistic with most properties here.  

If you really do believe in PHX/AZ, I think targeting a SFH equity play right now is definitely the move. As others noted, $300k wont move the needle too much out here unfortunately. And even if you do find one, it'll likely need a solid rehab/refresh anyways, which will make you go above your budget anyways.

My plan of attack would be to target C areas that are projected to become C+/B's in the future. Certain cities are growing tremendously, so you might not need to wait overly long for things to come to fruition. 

Hey Ryan!

I see that you are in PHX as well. 

Have you looked at properties in Scottsdale? Or are you looking to not invest in your backyard so you can have that annual vacation spot?

I ask because there's a property near old town Scottsdale that I actually just came across thats a rare short term rental play. 

Hi Ben. Deals can be found on either valley honestly. Typically the barrier to entry is a little higher on the east valley, but the reward can be larger along with it. 

It also depends on what type of investing you are looking to dive into. 

At the end of the day, deals can be had. PHX is just a tougher market than others to find them. 

I'd agree with Mike. I would also add that segmenting the homes into categories will come in handy as well. For example, understanding high end flip trends, mid tier & low tier. What qualifies as high end compared to mid/low will depend on that area and the price point. 

Another great way to understand trends is to go to open houses and walk the homes yourself. There's nothing like seeing with your own eyes and physically feelings the quality of flooring, finishes, etc. 

Best of luck Fiz! 

Hi all!

I am representing a land listing that I believe has a BP investor written all over it.

The 1.22 acre parcel is in the vastly expanding town of Whittmann, AZ (15 minutes west of Surprise).

The lot comes fully equipped with electricity and water (a shared well, which is the norm for this area) already in place.

Also included is submitted plans for a stunning 3,000 sqft home w/ 4 bedrooms and 3 full bathrooms, which are already with the city and are 95% through the permit process.

Investors: Similar homes in comp range have sold in the area for between $600,000-$800,000!

Let me know if you would like to explore this opportunity further!

Hi Keegan. I am very sorry to hear about this. How frustrating!

If your agent hasn't done so, I would have them inform their designated broker immediately. Assuming everything has properly played out like it should throughout the transaction and AAR contracts have been in place, the DB might be able to talk to the selling agent's DB and inform them of the situation so that it's hopefully rectified. A lot of time when legal action is threatened and you have a winning case, people shape up. Assuming you have an agent, your agent's brokerage might also have legal council on staff/on retainer and can be called upon potentially as well. 

If you were unrepresented, I would contact the seller's DB ASAP. 

You should also be able to get your earnest deposit back as well. 

What reason did the Selling Agent give for backing out? You as the buyer hold all the backing out power that late in the game, so I am curious what happened. 

Hello Melanie! Welcome to the wonderful world of the BP forums. 

Hi Sendhil!

I have a lender that I'd recommend for this project. 

I'll shoot you a DM with his info. 

Hey Dennis!

Nice work on the ADU. Sounds like it's rewarding you nicely.

As far as investing in AZ specifically, I have a few questions. 

-Are you singling out Buckeye specifically? If so, is it based on your co worker's success? 

-Based on your success with ADUs, are you wanting to replicate that in your next investment? 

A lot of it is due to the notion that Sun City is known as a retiree city with a ton of +55 communities and homes that are smaller and not as nice as other areas in Maricopa County. The feeling that because it's so one dimensional, it's future appreciation is tapped. 

We'll see in a few years if that changes due to the success of Surprise, which is right next door.