Home Buying in Scottsdale>Question Details

ejeffw, Both Buyer and Seller in 94070

I am contemplating investing in apartment and homes in Scottsdale and Phoenix areas. Which areas should I be focusing?

Asked by ejeffw, 94070 Wed Jul 18, 2012

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Having a substantial amount of experience representing investors (as well as being one myself), the ROI is crucial when determining where and what type of properties to invest in. Will you be looking to fix and flip or hold as rental properties (which is a very strong market right now). If you are living here locally, will you be doing your own property management?

There are several questions that would need to be addressed in order to best direct you. However, in most cases, the price of homes/condos in Scottsdale will be more expensive, but will yield a higher return.

I will be happy to discuss your options. Feel free to contact me either via email: tfhal@cox.net of cell phone: 480-6205738.

Take care,
Teresa

Teresa R. Fahl, Realtor ~ Fine Homes Specialist
Prudential Arizona Properties ~ Troon North
28190 N. Alma School Road, Suite #111 | Scottsdale, AZ 85262
Email: tfahl@cox.net | Cell: 480.620.5738 | http://www.TNTFineProperties.com
1 vote Thank Flag Link Wed Jul 18, 2012
If I where you i would be looking at the south Scottsdale area, it is red hot right now and in my professional and personal experience only going to get better. to put my money where my mouth is I will give you an example; I purchase a house around 86th street and chaparral in Dec 2011 for
$154k rehabbed it listed it last month, it sold in one day for $315k. Not a bad turn in my opinion. Also rent are very good in the area if you are looking to hold. Let me know if I can lead you to the path of riches.

Sincerely,

Pete Maguire
Owner/Broker
Maguire Realty
602-312-3720
0 votes Thank Flag Link Thu Jul 19, 2012
Hi ejeffw
The best place to focus is where you'll make your required return. Every investor is different and is looking for a different yield. If you want to buy and rent what is your required cap rate as different parts of the valley will vary in that number. Flipping? that number and strategy is different. Of course it depends on how much you have to invest as well. I need to know what you want to make and how you want to make it to give a better answer to your questions.
Cheers
Laura Myers
AZ Real Estate Consultants
Keller Williams AZ Realty
Scottsdale
480-600-6213
0 votes Thank Flag Link Wed Jul 18, 2012
Thanks all. I will reach out to a few of you. I should have provided more information. Basically, I am currently trying to diversify my investments from cash/stocks into realestate. I am seeking positive cash flow rental properties over fixer homes to resell at this point. I am not sure if single family homes vs. multi unit properties work better in the PHX and Scottsdale areas for short term vs. long term ROI.
0 votes Thank Flag Link Wed Jul 18, 2012
ejeffw
Hi there! I presently have 12 properties ( single homes) that my investor is selling as a portfolio for all 12 houses in Surprise AZ. They are occupied with positive cash flow. I will be sitting one of the houses today from 1-4pm so if you would like to drop by and see what the houses look like, call me . My phone number is 480-620-3511 and the property address for todays open house is: 13183 W. Caribbean Lane Surprise AZ 85379. They are all in great condition and I can go over the details when I see you in person.
Thanks...Linda Salkow Prudential Arizona Properties 480-620-3511 Linda@lindasalkow.com
Flag Sun Jul 22, 2012
Excellent! I personally have investment properties in the Scottsdale and NE Phoenix areas that are Single Family and Patio Homes, all are cash flow positive. I would be happy to assist you in creating your Real Estate portfolio. Please let me know if I can be of assistance.

Take care,
Teresa

Teresa R. Fahl, Realtor ~ Fine Homes Specialist
Prudential Arizona Properties ~ Troon North
28190 N. Alma School Road, Suite #111 | Scottsdale, AZ 85262
Email: tfahl@cox.net | Cell: 480.620.5738 | http://www.TNTFineProperties.com
Flag Wed Jul 18, 2012
Knowing your long term short term goal will help a lot in determining what will be the best strategy. Are you aware you can purchase investment property, homes etc with your IRA? I agree with Philip you should talk with more then one agent. Call or email me and we can talk.

Thanks, and best of Luck,

Marlys Rollins, REALTOR, CDPE, CIAS, SFR, ePRO
American Associates
602-332-6494
MarlysRollins@cox.net
0 votes Thank Flag Link Wed Jul 18, 2012
Dear ijiffw 94070; If you have come to an investment decision to look at that kind of property in Scottsdale and/or Phoenix, I strongly suggest you interview 3 or 4 agents (maybe more) before you do anything else. As a life-long resident, long-time, active agent, and, an investor myself, I can assure you, that this marketplace has a unique component to it, unlike many other areas. It takes some real study, to determine whether or not to invest, and where. A lot depends on your finances. Will you be financing your purchases, rental rates in the area, work demographics, freeway access, just a whole lot of information that you, and your agent, will have to digest. It will not be super easy, but, could be very rewarding in the long run. Good luck!

Phil Griffith, Assoc. Broker
Russ Lyon Sothebys
0 votes Thank Flag Link Wed Jul 18, 2012
What are you looking for in your investment? There are many strategies to investing in real estate. Some focus more on cash flow while others focus on long term appreciation. There should be appreciation on any property if you have long term plans, but selecting properties that will maximize the appreciation might not yield the best cash flow.

If you are ready to invest, now is a great time to start. The market is strong and looks to continue in that direction. Interest rates are low so you can maximize your leverage. Also, home prices have only bounced back to 2003 prices, so there is room to appreciate. Good luck with your venture.
0 votes Thank Flag Link Wed Jul 18, 2012
Many of my cleints have been focusing on the East Valley and ASU because of their combination of high rental income rates, quality tenants, high demand and long term appreciation. Please contact me for specific property recommendations that fit your specific goals. Your invesment time horizon, level of risk and level of involvement are important discussions that will effect your property/management/strategy selection.

The current Phoenix real estate market presents an excellent opportunity for investment and I specialize in helping investors like yourself identify properties for your needs.
0 votes Thank Flag Link Wed Jul 18, 2012
There is an updated GRM (Gross Rent Multiplier) and also just rental stat we use, based on different zip codes, sizes, and price ranges for Houses. Apartment complexes should be sought in working class neighborhoods, but it all depends on the amount of investment.
0 votes Thank Flag Link Wed Jul 18, 2012
ROI is very important. Knowing your clients' wants and needs(the tenants you will be servicing) is very important in the decision process, too. Please call me if you'd like to discuss various areas and tenant wants and needs.


Steffy Hristova, MBA, SFR, Realtor®
HomeSmart
Tel: (480) 966-9353 Fax: (602) 507-3703
3131 E. Camelback Rd. #125
Phoenix AZ 85016
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Wed Jul 18, 2012
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