All Forum Posts by: Aaliyah Iman

@Aaliyah Iman thanks for the question!  My podcast actually is more geared towards people who work in Tech.  

BUT -- the group I mentioned is part of the InvestHER community.   The founders of that community have a podcast focused on women who want to invest in real estate as well as local Meetups across the US.   A good place to start and get connected both in Florida, online and in Arizona is on the facebook page -  InvestHer Community

https://www.facebook.com/groups/Investhercommunity/

@Wes Blackwell, great thought-provoking post!

My husband and I own and syndicate hotels here locally and keep a close watch on all regulation and proposals.    Our hotels are in the limited service space focused on the business traveler.   No resort fees, no charging for parking or no costs for amenities that business travelers require like wifi.    We are in the convenience space and I see STRs (at least in Scottsdale) as being in the experience space.  

I've been leading a local meetup for women investors and I host a weekly podcast.... I've noticed that most of the new investors I meet are interested in STRs versus other niches like wholesaling and fix/flipping. My episodes focused on STR have been some of the most popular.

I wonder if there's too much hype and perception that STRs are "easy money"? And, will the newer investor buying their first STR have more exposure with higher home prices (which don't pencil out for LTR) less marketing longevity on STR platforms & social media accounts and potential regulation changes?

So just my 2cents here, but I think investing in tax liens is a bad idea, especially in a "good" economy time like now.

There is much less supply now vs in the trough of a recession and your major competitors are hedge funds/banks.  The allure of 16% return sounds great but many go for 1%-3% interest, even ZERO... because the lender holding the mortgage isnt' going to let you swoop in and take a property they've lent on.  You can get a much better return on your money just doing simple index funds and bonds (3-9% historically)

If you're trying to get a property for cheap this isn't a good route either as i've heard ~95% in AZ will get redeemed, meaning you won't get the property.  And the redemption period is 3 years, so you'll have to continue buying the tax liens on the same property 3 years in a row for the chance to get it, which could potentially lock up alot of your money while you wait.

Bad experiences I've heard of are people "winning" a small irregularly shaped piece of land with no buildings that is completely landlocked and unsellable.  Obviously poor research on their part but still.

There are no refunds once you've won and paid.  But if you've won and haven't paid and don't within 24 hours, they just offer it to the next lowest bidder.

You also can't bid on 50 thinking I'll just pay for the best 2 because "A deposit of 10% of your expected bids must be made prior to the close of any batch in which you intend to submit bids."

For more info see https://treasurer.maricopa.gov/Pages/LoadPage?page=TaxLienTutorial

If you're looking for an easy in to RE investing also have a look at REIT ETFs or crowdfunding platforms. They're super passive and give solid returns with no work, just remember to diversify

@Aaliyah Iman welcome! You’ll want to connect with someone that has boots on the ground. I would suggest seeking out a property manager, realtor/wholesaler, and real estate attorney here. And try to come a few times a year and learn the city for yourself. If you need any recommendations let me know! Born and raised in the city and I’m always happy to help people learn to love Detroit as much as I do!

Welcome, Aaliyah!

I am a new member as well who just recently started investing in Detroit. I agree with @Jamiel Strickland that building a good team is of the utmost importance! I am currently in that phase now. Have you gotten a chance to actually visit Detroit and drive around? I would suggest that you research zip codes, neighborhoods and take a tour. I recently did an investor tour and found that it gave me invaluable information that I would not have found online. Good luck with your investment property hunt!

Welcome to the BP community and to the world of REI. You have come to the right place to learn, connect, and grow your network!