All Forum Posts by: Matt Greer

Good Job! I love the back wall design to help make it trendy and draw in guests.

I have had this issue before. I have pretty bad style sense no matter how hard I try. Sometimes I just go into the store and buy whatever the mannequin is wearing (no Joke). I've also got a good friend who cuts my hair and she'll go to the mall with me and make suggestions if I need. In short I think you just need a girlfriend...

I have also seen that there is a weird hump people go through with wealth. When they go from little to nothing and start making money they want to show it off and go to great lengths to show it off. Then they get bored with it and start acting normal again.

Also coaches tend to like to act super rich so that you'll buy their program in hopes you'll get rich too. I see this absolutely plaguing the industry and I think it's why there is such a high failure rate especially amongst beginners. They paint a picture that it's easy and they're rich (you can tell by the clothes, rented lamborgini and the piles of cash sitting on the table) and that all you need to do is buy their program and you can rich real estate mogul by next week. Because their claims are so extreme they have to make their wealth look extreme and clothes definitely convey that look.

On the other hand you can't look like a total bum when meeting clients.

If it's an STR I'd make sure there is demand that far out in the country and how constant it is. I'd also check on how it would fair as a normal rental should you need to go that route. For that I make sure there are sufficient jobs in the area that could afford it.

Always plan your exit first. Never start a project without a clear plan on how you'll become profitable.

My buyer's are making out like bandits currently! I have a lot that are standing on the sidelines but the ones that are going for it right now are getting amazing price drops and concessions. My new construction buyers are winning the most with all the seller concessions being offered. One builder out here is giving away free swimming pools! The other group of buyers that are really coming out ahead are the ones that are looking at the homes that the ibuyers are trying to get rid of because the ibuyers have no emotional attachment and once the house sits for a little bit they are just dropping prices and offering concessions that can't be beat.

I'm in Arizona and I've seen it become a problem in a few areas. The biggest problem Sedona has is it's creating a squeeze on the market and it's making it so the people who live and work there can't afford housing which is definitely an issue for the people living there so I understand why that municipality is doing what they are. On the other hand I think investors will start to hit that threshold where certain markets become oversaturated and that will ultimately hurt the investors especially if they planned on the huge returns that STR's provide. It's definitely something that could catch an investor in a bad spot.

@Marcus Mears Welcome to the area. I have had a few investors go and buy duplexes lately. They are great for house hacking. There is a healthy supply on the MLS as well as a few off market ones I come across periodically.

 That is something I am very interested to see as well. With interest rates much higher than they were just a few months ago we could see some liquidation coming up.

I'd find someone new that meets your expectations

I'm an RE agent in the Phoenix East valley area. Today I was looking into opendoor and realized they have a 10% market share here. We currently have about 18,000 homes on market and Opendoor has about 1,800 homes listed (the numbers go up and down daily).

Most of their homes for sale have been sitting and they're all listed at or below what Opendoor paid for them. This has created tons of opportunity for buyers. You no longer have to buy a property in a matter of hours like we did a few months ago. 

We are literally able to write offers and when sellers counter I tell them to find a different buyer and all of the sudden they accept our original offer.

How are you taking advantage of this opportunity and are you seeing similar situations in your market where one or two massive institutional buyers are just selling? 

The crazy thing is 1,800 homes would've been half the homes on market for us just a few months ago.