Looking into fixer upper multi-families 4:2, to owner occupy BRRR Hack in Phoenix AZ. Currently learning how to evaluate deals with comps & ARV and I know by listening to the pod casts that the 1% rule is a good approach to weed out deals so you don't drive yourself nuts but I am not finding any 1%.. am I crazy ?
Thanks in advance for any insight in the subject in Phoenix
@Tatiana Conta the 1% rule is a bad metric because it doesn't take into account other factors, it likely does not apply as much in Phoenix and part of the reason is that Phoenix is going to have lower expenses than many other areas of the country especially when it comes to insurance and property tax. My advice is to run the math and get a good baseline for what the market will bear, and shoot for the right hand side of the bell curve.
Thanks a lot Aaron!! This helps!