All Forum Posts by: Account Closed

@Giovanni Isaksen thank you for the tip and the link. It seems that you are already in the know! If I can be of any more assistance, please don't hesitate to reach out.

Joe,

Thank you also for the question. This is more difficult for me to answer, because the "best opportunity" depends on the preferences of the investor. I can't give you the answer you are probably looking for without that information.

What I can say generally is that value-add acquisitions are occurring in almost all submarkets - so in other words, think if you should consider all submarkets if your investing preferences are flexible.

If you have specific questions, send me an email and I'll see what I can do for you. Finding specific deals based on investor preferences is typically not within the appraiser's scope of work - we appraise the properties once they are found. But then again, that is why I am here - to learn from all of you, see how our disciplines can work together, and become a successful investor.

Joel, thanks for the direction - I will check out the blog and make sure I post articles there.

Giovanni, thanks for the question. The general consensus is that we are in expansion mode. But in the multifamily sector, most of the big players have already made their moves. Most of the deals right now are on Class B and Class C "Value Add" projects, especially ones that have been mismanaged. Multifamily land values are increasing, and we are expecting several high-end projects to come on line this year in the Scottsdale or North Phoenix area where high rents (up to $2.00 PSF/Month) are supported. That is not being duplicated anywhere else in the valley, and honestly, some market participants wonder if its sustainable with all the product in the pipeline. While most are outwardly hoping rents will increase like they have recently, the rumor is that they will be flat.

Understand, I'm painting this picture with a broad brush. Individual pockets within the Phoenix MSA will most likely vary.

Since you are from Washington, maybe you are familiar with Weidner? They came in here a few years ago and started acquiring as the market was heating up. We appraised several properties they purchased. Great people to work with.

Here is a link to the latest Broker Forum's Report generated by ASU. While it covers the market in general, there are portions dedicated to the multifamily sector:

http://wpcarey.asu.edu/sites/default/files/uploads/center-real-estate-research-and-practice/q1-2014-brokers-forum-report.pdf

Let me know if this answers your question or if there is anything else I can do for you.

Thanks!

Good Morning!

My name is Cam and I am new to Bigger Pockets. I am a commercial real estate appraiser (MAI) in the Phoenix area and I specialize in multifamily. I am also very interested in becoming an investor at any level - starting small is fine with me. I see a wealth of information here and I am excited to learn my way around the site.

I also want to contribute and share my perspective (where applicable and appropriate) and be an active member on the forums, helping anyway I can. I would like to write a few articles that answer questions investors have for appraisers, keeping the investor's needs and interests central to the topics.

Are there any questions anybody has that I can help with? I typically appraise properties with 100 units or more, but I am willing to learn about smaller multifamily properties too. I can also field general appraisal questions.

Good Morning!

My name is Cam and I am new to Bigger Pockets. I am a commercial real estate appraiser (MAI) in the Phoenix area and I specialize in multifamily. I am also very interested in becoming an investor at any level - starting small is fine with me. I see a wealth of information here and I am excited to learn my way around the site.

I also want to contribute and share my perspective (where applicable and appropriate) and be an active member on the forums, helping anyway I can. I would like to write a few articles that answer questions investors have for appraisers, keeping the investor's needs and interests central to the topics.

Are there any questions anybody has that I can help with? I typically appraise properties with 100 units or more, but I am willing to learn about smaller multifamily properties too. I can also field general appraisal questions.