All Forum Posts by: Melanie Johnston

Hi @Tyler Torres welcome to BP!

You will get a lot of good advice from your fellow investors.

As someone who works with a lot of California-based investors I know one factor can be proximity to where you live. This makes it easier to look for homes and visit your investments.

I have a BP investor from Walnut Creek, CA, stopping in next week to check on his 8 single-family homes he’s purchased throughout Metro Phoenix.

Having said that, I have another BiggerPockets investor who owns three houses here and has never set foot in Arizona. So that makes the case that you could invest anywhere.

Looking for growth in population and economic development are two more strong signs of a market worthy of consideration.

If, at the end of your research journey, Metro Phoenix is in your game plan, I would be happy to share my experience and even connect you with other BP investors who have properties here.

Wishing you success!

Melanie

Joshua,

Reading this reminds me of a BiggerPockets investor I know named @Cecil Gomes.

I helped him buy his first investment property and he has grown to become a successful flipper and investor who applies his science background (cancer research) to real estate investing.

You might enjoy following him on Instagram… @scienceguyrei

I think you will be inspired.

Wishing you great success!

Melanie

Hi @Chad Price.

Congratulations on getting started!

In our market, it would be very rare to find a new build that allows STRs, as some new builds won’t even sell to investors looking to LTR.

You will find more opportunities searching for a single-family in a non-HOA neighborhood.

Let me know if I can help you with that. I'm helping my latest BiggerPockets STR buyer close on their new purchase next week!

There are options in most cities that make up Metro Phoenix.

Melanie

Does it matter if it’s South or North Scottsdale (85254). Pets? I know some owners have allergies.

Hi @Pedro Huichapa

I see @Art Shalomov posted above me. He's a great resource, as both a lender and an investor. He's helped many of my BiggerPockets buyers put together a complete portfolio of properties, so I find him to be extremely creative and trustworthy.

I noticed that you were asking about MF. As far as the Valley goes, I agree with Art about the state of our MF stock. Thought it might be helpful to share a link to the current MF listings on the MLS, just to give a sense of what's available:

https://www.flexmls.com/share/...

I'm happy to help in any way I can in recommending local resources to you. Feel free to reach out!

Melanie

@Carson Bode I know of a few. Do you need unfurnished or furnished? How long a lease term? Budget?

Melanie

@Jingmin Ye

You are asking some good questions. In working with dozens of out-of-state BiggerPockets investors who have bought long-term and short-term rentals in my area (Metro Phoenix), they tend to research the economic health and forecasts of a particular market so they can benefit from long-term growth and protect themselves from a declining market. Headlines like these suggest Metro Phoenix is a good market to consider:

A great resource on our economy is the Maricopa Association of Governments. Here's a link to their maps and data section: https://azmag.gov/Programs/Map... which offers detailed analysis of all facets of our economy, including future projections.

As far as an investor being familiar with or close to an area, I've worked with several BiggerPockets investors who've never visited Phoenix before they buy. We meet through this forum, have a deep dive call on their goals, and then work together to get them comfortable with the areas that best fit their agenda. You can likely find an investor-focused agent on this forum in whatever market you pursue. It's all about trust, responsiveness and transparency.

You can certainly connect with a PM if you don't want to deal with "tenants and toilets." But managing your own rental from a distance is not as difficult as it seems. You just need boots on the ground in the form of a reliable handyman. Listing your rental on the Multiple Listing Service through the agent who helped you buy your property can be very cost-effective for you.

You are getting good advice from your fellow BP investors on this thread. I'm sure more good information will follow!

Happy to help if your investing path leads you to Metro Phoenix.

Melanie

Hi @Ryan Jackson  ... congratulations on your first post and on being a contractor. A very valuable skill to bring to the equation.

Interestingly, Metro Phoenix is one of the most active wholesaler markets in the country. Many of the big names in wholesaling are based here, people like Sean Terry and Pace Morby and Jamil Damji and Brent Daniels. The last 3 have a ton of free content on YouTube, etc., if you want to see what they're teaching and doing.

We are back to a low inventory market now with just 12,676 active listings across all categories (from mobile homes to mansions). Some listings, the freshly remodeled ones or the true fixer upper/flips, are attracting multiple offers.

Combing the MLS for properties that have 90+ days on the market is one way to find sellers who may be getting more motivated by the day.

Since our market is different depending on what corner you're standing on, knowing what price range you're hoping to start at would help. I'll share any insight on that segment of the market that I can to help you get started.

Melanie

@Herman Fox

If your decision is to find a great property in Arizona, I would be happy to help. I've helped about 20 BiggerPockets investors from around the country buy their own homes here, as well as both long-term and short-term rentals here.

I help clients buy throughout Metro Phoenix, including Scottsdale and all the surrounding cities. I know the best neighborhoods well, having been in this market for decades.

Please check out the reviews left by BP members on my profile. I would love to discuss opportunities in our market and help you and your family achieve your RE goals here.

Melanie

@Marty Sprong

Consider Kathleen Veglia with Driggs Title. She works with a lot of investors and always has their backs.

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kathleenv @ driggstitle.com