All Forum Posts by: Peter Dodd

@Joe Splitrock thank you for your insight.  As a new investor it's helpful to be reminded to focus on value first with each transaction. 

Does anyone have an opinion about buying property where a high profile media event has taken place? An example would be a home where a police incident has occurred. Is it ethical or even a good idea to attempt to buy these properties? In PHX, there seems to be a number of situations that are publicized and I wonder the impact on property acquisition and resale value.

@Scott Scharl  I was also given some direction to contact hard money lenders and close myself to fix and flip...

I have not made a purchase yet using this strategy. My intention once I get a house under contract using my money to open escrow is to find a wholesale buyer to take it off my hands. I'll only purchase if I can get property under contract at 70 to 75 percent of as-is value. My goal is to leverage my soft skills when I negotiate purchase price with seller and focus the transaction on relationship and help instead of price. I'll probably be looking at alot of houses before I find one that meets my criteria as outlined here. I have no intention of paying anywhere near ARV or Retail. If anyone can offer tips about the actions I should take after I get one under contract using this strategy I am happy to hear input. Thank you.

I wanted to share my initial marketing strategy as an investor.  As I drive through prospect neighborhoods, I note target homes (weeds, ugly, renters, etc..) I then search the Maricopa County Assessors interactive map site to determine ownership.  Once I determine ownership, I send a yellow letter if the house is owner occupied.  After my first yellow letter, I place a sign offering to buy houses on each end of the target homeowner's street.  This way my direct mailings are reinforced with signs that remind the homeowner of my intentions.  I continue to send yellow letters to the same house three more times.  Any feedback from the BP community is welcome.  Thank you.