All Forum Posts by: Melanie Johnston

If you have any questions about investing in Metro Phoenix/Scottsdale, feel free to ask.

Melanie

@Matthew Schlottman Sure. I'll DM you with some details.

Hi @Matthew Schlottman, welcome to real estate investing and real estate sales! One of the best places to build a wide knowledge base is through joining Arizona Real Estate Investors Association. This organization has been around for decades and concentrates on educating investors of all levels and creating events for them to connect.

Even during COVID-19 they have a robust program, they bring in market leaders and analysts to keep you posted on what's going on and they host virtual events based on your specific interests. This is not a paid endorsement, I just think it's a great first place to start.

My brokerage, Tru Realty, was founded by an investor to create an investor-friendly brokerage. I encourage you to check us out when the time is right! There are other Meet Ups, depending on your particular interests. Feel free to ask my anything. I've been licensed since 2005 and work with investors and consumers.

Wishing you great success!

Melanie

@Brian G. Listen to @Michael Greenberg! He knows his stuff.

@Lillis Hawker You are getting some solid advice here! Congratulations on getting started building your portfolio. 

My recommendation would be to talk with a lender (or 2 or 3) to see what's available on the mortgage market now so that you know your options. As you may have heard, that industry is in a bit of turmoil and lenders are changing their requirements and programs to try to cope.

What was available--and would have been a good solution for you 30 days ago--might not be available today. No way to know until you put your feelers out and start building your knowledge of current conditions. This would be valuable in influencing which direction you decide to go.

Best of luck in your new Arizona adventure! Pack your sunscreen. If I can answer any questions or help you connect with people, let me know.

Melanie

Hi @Jack Cole. Scottsdale is an attractive market for several reasons...smart of you to put us on your list. We are a major destination for sporting events (Phoenix Open, Spring Training Baseball, as well as NFL/NBA/NHL), lifestyle and events (Barrett-Jackson Auto Auction), shopping, dining...you name it. We have a diverse, growing, upscale economy and lots of well-paying corporate jobs.

Things are slowing right now, as they are across the country, but our diverse metro Phoenix economy will help us rebound when COVID 19 reverses course. I've lived (and sold/invested in real estate) here since I moved to Arizona to attend ASU. It's a great place to live if you like sun, golf, outdoor activities like hiking and boating...and real estate that appreciates. Even now, with the doom and gloom in the headlines, we are still technically in a seller's market with supply far below normal. In a balanced market we have 30,000 active listings across the all property types. I just checked and we have just under 14,000 active listings.

There are definitely pockets in Scottsdale where you can find good buys. And depending on how motivated sellers might be in 3 to 6 months, there may be even more opportunities.

It's easy to get here and our weather is awesome 8 months out of the year. I'm happy to answer any questions.

Melanie

@Brian Nguyen definitely! I look forward to talking with you.

Melanie

Hi @Brian Nguyen. Good for you for getting started. I have connected with several California investors who are eyeing Phoenix and surrounding cities because of the close proximity to CA. Right now we continue to be a sellers market, according to our market statistics. That is changing and I believe there will be more opportunities for buyers as inventory rises and some sellers become more motivated.

When that will happen is not clear, but potentially in the next 3-6 months (complete speculation, as no one can predict the future). I track all the market stats and we can see there is a slow change. This will benefit buyers who would be able to negotiate for concessions and other benefits.

All successful investors start with one purchase. Do what makes you comfortable...in a market that is convenient for you to travel to so you can check on your investment.

Melanie

@Cooper Weisbach Thank you for the shout out. See those number I sent you and you'll note they are on the low side.

@Michael Mai I will send you a message with the lender's info.