All Forum Posts by: Albert Hasson

Here in Phoenix a nice sparkling pool can easily add 15-20k to the value of the home plus they sell much faster. I would spend the money to make it sparkle. It only takes one buyer to fall in love with the pool and buy the house.

Unlikely drug dealers if they have been there 5 years. Are you buying the house sight unseen? Why don't you just go inspect the interior and exterior and then make an educated decision to proceed or not

Just read an article citing a recent study by Fidelity that said the average couple will need to spend $240,000 on health care AFTER age 65. Rich might be able to easily live on 3k a month but that should not be a persons goal. If you only have 3k a month coming in without adequate cash reserves you are taking your chances.

Joel,
I am going to look into Phoenix multi family first. I will say that being a Type A personality I am not totally comfortable with investing out of state. I need to be able to drive by and make sure the management is keeping the place up, the neighborhood is not going downhill, there aren't cars parked in the landscaping, etc., etc.

Are any buy and hold SFR investors out there switching to multi-family because of the lack of SFR deals? I am thinking of doing just that as I literally cannot find good cash flowing deals on homes here in PHX. Yes, I could buy a home built 30-50 years ago in a sketchy part of town that cash flows but that is not my model. Any thoughts are appreciated.

I would be very wary of someone who doesn't want you to check credit and pre-pay 7 months rent. Those are big red flags to me. I wouldn't be surprised if there was a criminal history. I would go with the second set of applicants.

Don speaks the truth! I bought a short sale for 190K earlier this year, put in 10K to rehab and sold in a matter of days for 228K. I had a "standing offer" from a realtor who claimed to represent a fund wanting to buy 100's of Phoenix properties for 180k!!!! WTF! Can't believe there are that many gullible folks here in Phoenix willing to sell at a 15-20% discount in such a hot market.

Thanks for the input Joel. I like your clients strategy but we are still about 40% from our peak here in Phoenix and prices are still racing up. I would look to liquidate my homes in the next few years and roll the$ into MFH or NNN. Depending on what your clients inventory here consists of I may be interested in making them an offer, I could save them some commission money! Just a thought.

Thanks J Scott and Kurt!

Thanks Joel, hope all is well with you. We have had great success with single family here in Phoenix and were looking to replicate that success elsewhere. If the deals in Atlanta have dried up then we may need to look elsewhere.