New Member looking for Multi-Unit investors

Phoenix, Arizona
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New Member looking for Multi-Unit investors

Alex Thomson
Member since 2025 · 6 posts · 0 votes

Hi everyone,

I have a 1/3 Acre property in downtown Phoenix, AZ with a 2br1ba home plus a standalone casita behind it. I've owned it for almost 3 years, and intended for it to be a quick flip but it unfortunately turned into a nightmare instead when the market tanked. After finally getting squatters and career-criminals removed recently, the house is in complete remodel condition again.

Unfortunately, I live all the way over in NYC making it extremely difficult to pick up the pieces even with the help of some nearby family. I'm currently getting quotes from contractors but I can't help but wonder if local investors may want the parcel of land (considering its generous size) to rezone and build multiple rental units on it like several other properties in the area. Where would I even begin my search or the conversation there? Is it even worth considering since it'll likely take more time and may yield less value than rebuilding the home to sell?

It's been 3 years of putting a lot of my life on pause to just scrape by, and I'm considering all options to get off of this carousel. All thoughts and leads are appreciated. Thank you!


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  • Kyle Gardner
    Developer · Mesa, Maricopa County · Member since 2019 · 43 posts · 43 votes
    1y

    Sorry to hear that Alex. I'm building quite a few duplexes near downtown Phoenix and we've bought and scraped houses and done minor land divisions in the area. Send me the details on your lot and I'll give my 2 cents. 

    If the property isn't in terrible condition, you can usually find a flipper that'll pay you more than they should. If it's too trashed, then may be worth selling just the land.

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  • Alex Thomson
    OP
    Member since 2025 · 6 posts · 0 votes
    1y

    Thank you, Kyle! 

    I'm glad to hear that you're doing well in that area. My current intention is to remodel, given that I've already cleaned up the property (it looked like a landfill) and my insurance has covered me for the extreme vandalism. Mitigation teams have peeled a LOT of it back to bare bones but luckily, most of the big-ticket items seem to be alright.

    It seems I can get the house and casita back into new condition in about 6-8 weeks time but I'm very concerned that it may just sit open on a cold market again. After dealing with an absolute worst-case scenario at this property last year (I'm not exaggerating at all), I'm worried about even renting at this point. 

    I would be VERY interested to learn more about your experience with land divisions in the area if you wouldn't mind sharing or pointing me toward resources that may have helped you starting out! I've considered splitting the lot and selling the front house while expanding the casita since there's so much space.

    If it's more appropriate, I'd be happy to connect with you to directly share the address and some financials that are being considered. I appreciate your help!

    0Reply
  • Alex Thomson
    OP
    Member since 2025 · 6 posts · 0 votes
    1y

    I suppose there's really no harm in sharing the listing here. The property is at 1748 E Monte Vista Rd, Phoenix, AZ 85006.

    If I continue with the remodel next week, I'm also going to take into consideration some tips I've seen on other posts in this forum (i.e. avoiding greys and whites and staging in the listing). The links on RedFin and Zillow are what the home looked like about a year ago for reference.

    I also no longer have a partner in the area (who was my local contractor and realtor), so I'm realistically starting from scratch with 2000 miles between me and my house..

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  • Benjamin AakerPro Member
    Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
    1y

    Get this place sold right away. You'll probably take a loss but it'll stop further losses on the property.

    0Reply
    • Alex Thomson
      OP
      Member since 2025 · 6 posts · 0 votes
      1y
      Quote from @Benjamin Aaker:

      Get this place sold right away. You'll probably take a loss but it'll stop further losses on the property.

      I would absolutely love to have it sold. I honestly wouldn't even mind the loss if it meant I could sleep peacefully again. I owe just under $430K on it with approximately $170K out of my pocket. In back-to-perfect shape (and on my luckiest day in the world), I've been advised the property comps at $600-615K. Insurance is paying out healthily for the rebuild, so I'm trying to figure my best exit strategy while having few local resources. If I were local again, it'd be a whole different scenario, but I'm extremely ready to walk away from this.

      0Reply
  • Mason WeissBusiness Member
    Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
    1y

    Hey Alex, I am a featured agent through BP and work with plenty of in state and out of state investors looking for similar properties. I have two investors buying in escrow for small multifamily properties and plenty more looking. You open to talking further? I will shoot you a message.

    [email protected]480-818-7745
    0Reply
    • Alex Thomson
      OP
      Member since 2025 · 6 posts · 0 votes
      1y
      Quote from @Mason Weiss:

      Hey Alex, I am a featured agent through BP and work with plenty of in state and out of state investors looking for similar properties. I have two investors buying in escrow for small multifamily properties and plenty more looking. You open to talking further? I will shoot you a message.

      Thank you for reaching out, Mason! I'll follow up with you per your direct message.
      0Reply
  • Jackson Harris
    Realtor · Phoenix AZ, USA · Member since 2023 · 209 posts · 81 votes
    1y

    Hey Alex I'll send you a PM!

    My business partner and I are Investors, Wholesalers, and Agents here in the area. We get our investors deals like this to then build, flip, etc.

    Our bread and butter is flips and STR's here, we run some local forums for each actually so we may have someone from these forums that would be interested partnering or buying it from you if one of our investors isn't.


    I'd be happy to show you the numbers based on our models what your return would look like if you partnered or flipped yourself vs sold it on market or off market. Looking forward to connecting soon!

    0Reply
  • Patrick O'SullivanBusiness Member
    Property Manager · Phoenix, AZ · Member since 2024 · 531 posts · 203 votes
    1y
    Quote from @Alex Thomson:

    Hi everyone,

    I have a 1/3 Acre property in downtown Phoenix, AZ with a 2br1ba home plus a standalone casita behind it. I've owned it for almost 3 years, and intended for it to be a quick flip but it unfortunately turned into a nightmare instead when the market tanked. After finally getting squatters and career-criminals removed recently, the house is in complete remodel condition again.

    Unfortunately, I live all the way over in NYC making it extremely difficult to pick up the pieces even with the help of some nearby family. I'm currently getting quotes from contractors but I can't help but wonder if local investors may want the parcel of land (considering its generous size) to rezone and build multiple rental units on it like several other properties in the area. Where would I even begin my search or the conversation there? Is it even worth considering since it'll likely take more time and may yield less value than rebuilding the home to sell?

    It's been 3 years of putting a lot of my life on pause to just scrape by, and I'm considering all options to get off of this carousel. All thoughts and leads are appreciated. Thank you!



     If you decide leasing it is an option for you, we can help with that.

    [email protected]480-795-7938
    get MULTIfamily Property Management4.7220 Reviews
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