I am new to the Phoenix area but I am looking to set myself up to make my first small MFR purchase in the area mid next year. I'd love to connect with some of the local investors who have more experience in the west side of Phoenix as I live in that area and I'm just starting to get a handle on some of the particulars to this area.
So, if you wouldn't mind sharing some knowledge and maybe enjoying some free coffee, please let me know.
What kinda of MFR is it?
Brian, you still looking. May have a great opportunity for you.
MF is pretty competitive in phoenix. I’ve been looking for a 4 plex for close to a year but haven’t found one that made sense to buy yet. People pay way too much for them. I see stuff sell at a 5 or 6 cap all the time.
We found a place but it is a "hidden value" property. That and off-market properties are the key in this area, I've found.
Have you succeeded in purchasing Multifamily?
I have. We're certainly not done but we're still seeing growth ahead of schedule.
Hi, I had a 12-Unit with 8 apartments and 4 trailers in escrow, but couldn’t close! Funding fell through, couldn’t wholesale it; paid $1,000 tuition to the School of Hard Knocks and forfeited my earnest money! Bout all I had. Told em at the Phoenix Real Estate Club I hope I don’t have to keep going to Srcew U. Lol. Just got totally hooked up though. A buyers, a sellers, and Funding websites tied into a back office. Fairly automatic. Have big hopes of course. I have the need for properties, I and my associates. SFR & Multifamily. Good deals. I’ve connected better since my failure. Know buyers. Seeking sellers. Need funding? Need buyers? What can we do for each other? I’m moving up. Thanks.