All Forum Posts by: Jared Smith

@Byron Anin Thanks! I can for sure. In Tucson I specialize in the Luxury Market characterized by over +800k and MFH 5-50 units. There is great opportunity here as you are not competing against institutional money. 

For the 13th consecutive month, Arizona has had positive median purchase prices and rent prices go up with a 14th month trending in the same direction. The Average Median Purchase Price for a SFH is now $445,000! And it is important to mention that rent prices have broken the +$2,000/month barrier and are the highest ever in our state's history.

After the US Census released numbers, it shows that Phoenix is the #1 growth city and Mesa is #8. Arizona averaged 238 people each day moving to our beautiful state and it is not stopping. California, Washington, Oregon are the top 3 states where people are moving from.

Conforming loan limits have increased to $548,250 and 30 yr fixed rates are still hovering around 3% which will continue to drive prices up. In addition to that, big tech is moving to AZ and there is actually a man-made beach being built in Mesa, AZ!

There is a +$5 BILL investment in foundries for semi-conductor chips coming to AZ, a historic 3% income tax cut on all income levels and if you haven’t looked at our extremely low property taxes I would recommend sitting down before you look them up. I’ve been looking at $2-3 MILL homes in Paradise Valley and the annual taxes are under 10k/yr.

With all of that being said, I have shifted my focus to AZ for both real estate investing and sales. Ohio is still great, but I will only buy off market deals from my personal network. I am happy to talk shop, but overall – out of town investors are overpaying there.

During Covid, I wanted to be productive and passed all my broker exams which I am proud to say and amazing looking back during my time here in AZ. As the stock market remains volatile, I will always remain bullish on real estate – specifically AZ!

If you have any questions on AZ Real Estate please feel free to reach out or drop a comment below.

Good luck to all - Jared

@John Underwood I agree with you and that is my strategy in Ohio. In Arizona, I find that with the 13th consecutive month with positive purchase price and rent price increases that dealing with a nicer property and better tenants are much better/easier long term.

1. Location
2. Views
3. Value add
4. Cash flow
5. Population/Job growth
6. Quality of life
7. Class A properties
8. School district/Low Crime
9. Multiple exit strategies
10. Worst case scenario would I live in it

2006 Goodman AC Unit for a 1,433 sq. ft. home. $1100 for parts and labor to repair the housing cage, blower motor and wheel. Quote is around 8-10k to replace the unit in AZ. Do you recommend placing or fixing it? 

@Will Gaston Thanks for your direct feedback/answer. I cancelled it and will continue to self insure as I have been.

@Willie James In addition to the mailers, I have been getting soooo many texts/phone calls from home buyers/wholesalers/warranty companies. SMH!

@Nathan Gesner thank you for your thoughtful response! It's always good to get another professional's opinion. Much appreciated.

@Julie Hartman Thanks for your thoughtful response! I cancelled it and will continue to fix things as they come up. I did put in my lease that if the frig goes out I am responsible for fixing it or replacing it but not responsible for the contents inside. I had a tenant say that had 500 dollars worth of food that went bad one time... never again!

@Andy Eakes thanks for the feedback - I cancelled it and now looking for a frig replacement that's starting to go.