All Forum Posts by: Jim & Michele Wilcox

Hi - If you have access to MLS and do what they call a "custom search" - add words in to search in the "Remarks" field to look for like "bank owned", REO, foreclosure, etc.

That's what we do.

Good luck ...

Hi - I suggest you look in your own back yard. Arizona is an excellent place to invest in land. If you live in AZ, you have seen what has happened to "outlying" land in the past 10 years. Buy where you know.

I purchased land 9 years ago for $67,000 - it's now worth about $700,000.

Good luck ...

Hi - I use this companies software - http://www.software995.com/ for lots of things. I have no interest in the company, except they offer some good, free stuff. It is all offered Free Of Charge - but you may also puchase if you like.

Give this link a try from their software list:

http://www.omniformat.com/

It converts any files into readable ones.

EDIT ;;; Just looked at the software and it doesn't do PUB. Sorry :oops:

Good luck ...

Building "GREEN" in our area adds an additional 20 - 30% onto the total building costs. As nice as it all sounds, many homeowners are not willing "yet" to add that additional 30%. They'd rather have granite counter tops, travertine flooring, and swimming pools! :D

You can rent/lease at brand new BMW 750I for $750 per month. It just might make a very luxurious home. :D

But in our area - you can get a 2/1 apartment (750 - 900 sf) in a nice area for $750.00 per month or less - that's the metro Phoenix area. You can get homes for the same price probably 3 bedroom. And even get a brand new apartment for that price. Lots to pick from. I think our rents dropped a bit with all the house buying and may rise as people need places to live and can't afford a house.

I've heard of that city. I hear Nevada is still doing great.

The city I like in Nevada is the one just as you come across the dam where the lake is and the houses sit on the hill. I think that's Boulder City?

Looks pricey though.

Good luck ...

Hi -- LOL ... I've lived in AZ for almost 30 years and Kingman has always been a sleepy little tourist town (and sometime retirement town) on the old Route 66. Because of the recent boom in real estate across AZ - Kingman has ridden the coat tails - as have other smaller cities in AZ. So, JMHO ... I'd be care of these very small cities. They will be the first to decline rapidly in a poor housing market. My advice is do your due diligence as always. I honestly don't know where these people will work - unless I am unaware of something.

I do not live in Kingman but most of the new pre-construction subdivisions in the state (especially the more reasonably priced ones) are not allowing investors to buy homes at all. This happened - like I said - because the neighborhoods were obviously vacant or had renters and very few actual live-in homeowners.

One example is in an area called Queen Creek. There was a lot of pre-construction buying. Well, now because of the downturn in real estate, the new houses are being sold for less than they were before - in the same or next door subdivisions. So many investors are holding homes that they cannot sell, therefore, builders are not allowing anymore investors to purchase subdivision homes.

Not only that, but foreclosures in Queen Creek are very evident ... as in several other cities where investors went in to make a killing and didn't.

There are great investments in these cities I mention, but you need to do your homework. You can't just buy something and expect it to make a profit for you.

I personally love all of Arizona and each city has its benefits and beauties. Arizona is my home and I will continue to invest in it - but am looking carefully at each opportunity now.

Just be careful.

And what city might that be? I hope its not Kingman, AZ.

I agree that an astute RE rehab investor can make money in any market climate. You need to know the market and what people want and what is selling in each phase of market decline and/or market rise. You may not do as many rehabs but you should be able to make money on the ones you do.

No I don't list REO's. But do check the MLS for good deals -- which are hard to find.