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Updated almost 2 years ago on .

Account Closed
  • Investor
  • Phoenix, AZ
387
Votes |
420
Posts

Flagstaff AZ - Build For Rent

Account Closed
  • Investor
  • Phoenix, AZ
Posted

Investment Info:

Condo buy & hold investment in Flagstaff, AZ.

Purchase price: $360,000
Cash invested: $36,000

This was my first syndication as the managing member. I identified Flagstaff as an emerging market in 2021. After getting under contract I brought the deal to some college friends of mine and together we took it down. In just 1 year of ownership we’ve seen our equity increase almost $100k on a brand new build condo in the center of town.

What made you interested in investing in this type of deal?

I identified Flagstaff as an emerging market with a supply and demand imbalance that was worsening.

How did you find this deal and how did you negotiate it?

I found the deal through the builders website being advertised as coming soon.

How did you finance this deal?

Conventional 30 year

How did you add value to the deal?

I added no value to the deal.

What was the outcome?

300% ROI in year one.

Lessons learned? Challenges?

Honestly, the lesson here is to trust your gut. I knew I was early to a market and early to the development itself (1st building). As usual, I had my hesitations. DON’T LET THE DOUBT WIN!!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Whitney Bowling with eXp Realty. Shameless personal plug.

@heybeansy on instagram