Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
6y
I don't like investing into hot markets I like selling into hot markets. That being said, there are always deals they just become harder to find in hot markets. The key is to define what makes a deal good and stick to that. Don't adjust based on market conditions. Don't talk yourself into paying more simply because you want to get a deal done and there isn't much that meet your criteria.
Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
6y
I don't like investing into hot markets I like selling into hot markets. That being said, there are always deals they just become harder to find in hot markets. The key is to define what makes a deal good and stick to that. Don't adjust based on market conditions. Don't talk yourself into paying more simply because you want to get a deal done and there isn't much that meet your criteria.
Rental Property Investor · Queen Creek, AZ · Member since 2020 · 69 posts · 10 votes
6y
Thank you, Jacob. I appreciate the feedback. We are at a point we aren't sure what to do with our savings and would like to start investing in real estate to avoid the stock market and the volatility.
Real Estate Agent · Tempe, AZ · Member since 2011 · 1k+ posts · 543 votes
6y
On MLS, deals can be found but can be a bit more difficult to locate and can usually have more competing buyers. If you are a cash buyer, there are many more deals available that are off market. The time to buy is when you are ready. Trying to time the market is probably not the best strategy but you could get lucky.
Realtor / Attorney · Phoenix, AZ · Member since 2018 · 388 posts · 265 votes
6y
For a primary residence, I always recommend buying rather than renting. Renting is guaranteed to get you no ROI at all. More importantly, you have to consider what will happen with the Phoenix market in the coming years. Job growth is huge. The projections are that so many people will be moving to Phoenix in the coming years that we won't have enough housing supply for all of them. Even though the market is hot now, the data indicates that it won't drop off any time soon.
Real Estate Broker · Phoenix, AZ · Member since 2015 · 10 posts · 5 votes
6y
@Keegan Darby There are definitely investment deals that you can find on market or off market. It just really depends on your buying strategy. Are you looking for a certain amount of immediate cash flow or is this going to be a long term buy and hold strategy? I tell my investors that if you are looking to buy something and sell in the next few years, then you are buying at a high price and your cash flow isn't going to be as strong as it was purchasing two years ago. With that being said, it is still possible to find a good investment property. The single family home market is probably a little harder as the prices are a bit higher, but the townhome market is doing really well right now as far as rents are concerned. Knowing the rental market is very important when you are looking for a realtor to help you on your search. Knowing the rental comps isn’t enough unless they are putting their name on the rental price and will be helping you along your journey.