All Forum Posts by: Zachary Yelder

As a person who has lived in NC & SC and Phoenix, I would highly suggest AZ. I have former teammates of mine that are now leading agents and brokers in the popular cities of NC, Winston-Salem, Greensboro and Charlotte. I've invested, buy & hold and built in the carolinas and Phoenix to me is much easier. Not to mention the buying process between the two. Arizona is a title state vs the attorney state of the Carolinas. I just find our process here, contracts and real estate here much more seamless, which when you're out of state investing, is crucial. What the Carolinas are experiencing in the slow down right now vs AZ should tell you where to invest. Charlotte and Phoenix used to copy each other in trends but the last few years Phoenix pulls ahead so, depending on your strategy, follow the money and invest in Phoenix. 

Looking for other actual investors with capital and investing in the Phoenix valley. I've been building, rehabbing and selling as an agent in the valley since 2012. And mostly solo in my ventures but I'm looking to expand and network as I have a few big development opportunities in a location in South Mountain, much like Camelot Homes here in Phoenix. I'd like to meet other builders and investors here at actual projects, collab with vendors and trades and do these deals I have together. Let's connect. 

Welcome Paul to BP. What investments are you working on in the Phoenix valley?

Thomas, just looking at the deal you have. So, is the purchase price $2.25M with a $5,900 PITI? I feel like there's a few numbers missing to truly estimate the buy & hold strategy here over the flip exit. Feel free to message or call me to discuss details.

Brandon. Would love to connect with you as well. I'm also active in the Phoenix metro area with new builds and rehabs. We can meet at any of my sites or yours. I have a new one coming in Troon and South Mountain I'd like to discuss. 

 Thanks John for your response. Yes, I learned the market doesn't do 30 days or under. I prefer more midterms if I furnish. The appraisal I had back in November last year came in at $1.97M and it's currently active for $1.7M at 40 days. If you see the front it's not done and the driveway I haven't completed and to why I listed it below. I'm afraid I'll have to finish the curb appeal and driveway but figured someone at this price point and area had $45k to do it. I assumed incorrectly as it's been made clear buyers here want a fully finished product to just move into. 

@Arn Cenedella Thanks for responding. So I actually lived out there starting end of 2020 and worked on this house starting in 2022. While I was out there the business in Phoenix continued so I was able to manage AZ while being in SC and learning your market. I've reached out to those companies and some businesses who work with them so, we'll see. 

I have a 5 bed, 4.5 bath, 4,445 sq ft home on the famous August Rd & Faris in the 05 of Greenville. I'm not having any luck selling it so I'm thinking of pivoting to a midterm and short term rental as a buddy of mine has had some success with his house in Paris Mountain and the 09 zip code in Greenville. I've looked at the AirDNA data and Rentometer but there isn't much data in my area for that size of a home, new construction that people are renting in the luxury space as it's nearly a $2M spec. If there is anyone with luxury rental experience in Greenville that can lend some advice or experience, I'm all ears. 

Miciah,

Phoenix market has changed drastically since 2020 and has made the cash flow market very tight if you're not walking around heavy in liquid. Your average cap rate in Maricopa county is 5%, which for the starting investor isn't anything worth doing as most people buying the rentals are doing it for write off purposes more-so than cash flow. My first step would be to grow your capital by investing in rehabs, partnering before purchasing your first buy & hold. Our purchase market is very strong so you'll be able to grow capital relatively quickly partnering with someone who's actively developing and rehabbing sites. Every partner I've had over the years starts there and when they're comfortable with the capital they have then they can branch and purchase some long term assetts. You're welcome to message or call me for more discussion but I hope that helps.