All Forum Posts by: Account Closed

@Art Perkitny I can assure you that your first map is misleading. I currently live in the Grayhawk area in North Scottsdale and you'd be hard pressed to find a single multi family property that has hit the MLS under $1,000,000 in the last couple years. New developments and apartment complexes...sure, but nothing for a typical BiggerPockets investor to sink their teeth into.

@Derrick Umphlett Sounds like you’ve got a great goal in mind. What is your first step going to be in cultivating the perfect team?

Great choice! Phoenix is number 1 in net migration according to the Redfin report released yesterday. It's a very hot market with surprisingly low inventory considering the appreciation rates the last few years of 5%+. I work for a REIT full time and am constantly analyzing deals in Phx. If you'd like to connect I can screen share some of my analytics.

Whit

Hey George,

As others have said it is hard to find a 1% rule deal here in Phx. On the MLS they are mostly nonexistent. If you get plugged in with a realtor who works with wholesalers you may stand a better chance. I'm an agent and a local investor myself. As another post indicated you are trading cash flow for appreciation in this market right now, which can then be leveraged into a HELOC for a BRRR later. That's one strategy that I've put in motion. I've got some unique tools to help you see the YOY and QOQ appreciation of every property sold on the MLS in the last 3 years at lightening speed. You can sort it by school, zip, and city. If that's if interest to you let's connect! Happy to help. Also, neighborhood scout is a great resource to see what neighborhoods are hot!

Lamar, 

I’d recommend taking a look in the Surprise area. As the baby boomer generation transitions from home owner to assisted living facilities you may find that the market for this kind of transition heats up in the notorious retirement communities. If I had more time, I’d be doing this myself. 

Regards

As a realtor, re investor and a native to Arizona I would caution you against investing in something you may not fully understand. Phoenix is the 5th largest metro in the country...to say that now is a good time to invest in Phoenix as a blanket statement is pure conjecture. It’s critical to evaluate your risk tolerance, skill set, experience, etc, Beyond that it is likely wise to understand the economics of return you expect, the length of your anticipated investment period, and a myriad of other elements. I hope this is helpful. 

Regards,

Whitney

Nice work Kara! I’m an investor in the Scottsdale area myself but have been too afraid to pull the trigger on a flip myself. How did you get over that hump?

Hey Ross,

There really is no such thing as a standard timeline for a listing agreement. It’s not abnormal for a property like that to take a while to sell. The agent is protecting his time and money in marketing it properly. That said, it’s totally reasonable for you to negotiate that timeline. Hope this helps.

Whit

On a more micro level, I would highly recommend an area called Grayhawk that’s in North Scottsdale. With the recent announcements by Mayo Clinic the area is growing rapidly. Great schools and neighbors, low crime, tons of amenities locally. Also, I’d throw in Desert Ridge as it’s equally appealing to small families and has a great reputation. Hope that’s helpful! 

Hey Mike,

I haven’t officially received my real estate license (I expect it to be issued within 4 weeks) but as 15 year engineer, Arizona native, and currently a project manager for one of the largest developers in the country I believe I’d prove a great resource for an out of state investor. If you’d like to connect I can send you a few recommendations and we can go from there.