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All Forum Posts by: Justin Ellis

Justin Ellis has started 5 posts and replied 109 times.

Post: Tucson Investors Unite!!!!

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

I'm wondering if anyone for the Tucson market including Green Valley, Oro Valley, Marana, Vail or Sahuarita Arizona AZ (Keyword Bomb) attends a REI meeting in the market that isn't about selling, just pure networking and getting to know who's active around our community? @Jeffery Hayes was talking about starting one and I like the idea, but wanted to see if there is anything currently.

Post: New Member from Arizona!

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

Hi Chantel, and welcome to the world of never ending research and resource that is BP.  I'm just beginning as well, looking for my first opportunity here in Tucson. Good luck to you, hope to see you around the community!

Post: Hello! I'm a new member from Avondale, Arizona.

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

Welcome to BP, great resources here! I'm also new to REI and I'm in Tucson. I like that you're young and motivated AND have chosen to focus your energy on real estate NOW. I only wish I had started the journey sooner instead of playing around in small business! Best words of advice I can give about any subject...

Learn ferociously for a short period of time (always with the intent of applying the knowledge), take a few of the concepts you learn into the real world on a small scale to actually feel it and gain confidence, make a plan with short and long term goals and then attack it. Don't stand on the sidelines while others play the game for fear of failure!

Good luck, see ya on the field

Post: Phoenix Arizona Property Management Recommendations?

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

I'm interested to hear why you're leaving your current manager as well Matt. I don't know much about the subject of PM but I am interested and would like to hear what to look out for and what issues to address in the future when hiring. Basically, I would like to learn from YOUR pain, so I have less chance of feeling that myself! :) Thanks in advance.

Post: Wholesalers Selling All Over USA

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77
Originally posted by @Roy N.:

Are these folks just daisy-chaining listings they've seen on another wholesalers list?

 Some very well could be. I assume they would have to have some prearranged deal where they market each others properties and offer a commission split for the sake of getting units sold faster.

Post: Wholesalers Selling All Over USA

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77
Originally posted by @Carlette E.:

Hi I must say It is possible.. I am a Real Estate  investor and Wholesaler and I also have property in different States in  which all have been verified.  I Network with Lots of owners   in many states as well as wholesalers and come across some really good deals at times..  I also get listings from Rehabbers and other Investors in which sometimes we cross market even so  we always investigate the property.  We have  scouts in different states that we pay sometimes to help us with  research and verification of a property that is out of our state.   So far everything has been good without any issues. 

 Thanks for the input, that's good to know there's a human presence in the market checking out the properties!

Post: Wholesalers Selling All Over USA

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

Have you checked out any of the deals they're offering? I had a guy send me info on a property he had here in AZ and I think he's from the midwest?! I'll contact him tomorrow and see if I can have a look at the property. I just find it hard to believe that without checking out a property, you can vouch for what you're pushing? But maybe I'm wrong, I'll let you know what I find out.

Post: My Third Deal, Another 4 Plex

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77
Originally posted by @Anthony Gayden:

Ok an update. I got the property under contract with $1000 earnest money last week. I just scheduled the inspection for early August with a close date of September 1st. 

I'm getting excited. At that point I will have 3 properties, 12 units, $81,600/yr in gross income with the properties valued at around $510,000. All in my first 1.5 years. I set a goal when I started to buy $1 million in investment real estate in 5 years and I am half way there.

 You're a true inspiration Anthony, congrats.  I love seeing it CAN be and IS being done in Tucson,  I hope everything goes well. Get's me fired up!

Post: 77K return . . . but I wouldn't do it again!

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77
Originally posted by @Douglas Larson:

@Ryan Billingsley

@Nancy Brook

@Mary B.

@Andrew Bondarchuk

Thanks for the questions and comments. I'm definitely not complaining about a good return, and Im not afraid of a little work and the normal issues of babysitting subcontractors. This home is just the oldest property I've worked on and it had way more issues than expected. The list was never-ending! 

I fell in love with the views and the potential but the honeymoon was over after about 3 months (my usual duration for a total rehab) and there was still so much to do! To be clear, I'm not just another guy with commitment issues. I actually have several rehab to rent homes that I'm keeping indefinitely. This project just went on forever.....  From now on I'm sticking to my core business model of homes under 30 and vacant land.

HAHAHAHAHA!! Until you stumble on the next deal of the century where you can blow your budget out of the water and still net $77k! I mean, if the deals that good you can't pass it up, JV with someone to "babysit" and STILL make close to $40k ... call me Mary Poppins! :p Great job BTW, rehab looks great.

Post: Are there any serious wholesalers in the Tucson Market?

Justin EllisPosted
  • Property Manager
  • Scottsdale, AZ
  • Posts 113
  • Votes 77

I'm wondering if there are any wholesalers in the Tucson market? Someone who does it full time as their profession? Maybe in the surrounding areas like Oro Valley, Green Valley, Marana, Sahuarita, Benson, Sierra Vista, Etc. If anyone knows, PLEASE get me contact info!