All Forum Posts by: Tracy Royce

Here in Phx area typically cash closings make up about 10% of monthly sales; its been near 40% for awhile. First time home buyers using financing to purchase in the under $150K range are basically lucky to get a home these days, as cash buyers are gobbling up that inventory

I agree. So take pictures as you buy properties and share them with us :)

Hi Tyler, yes prices in Phoenix have gone up significantly and that price is hard to get your hands on these days. You can still find them but you have to dig harder.

Great forum, I've been thinking about what to add. Thought the keyword system to be a great app (so to speak) but wasn't feeling particularly creative (@Jason Grote) as well. Thanks for the thread!

Hi Joy, thanks for the introduction! Staging is good knowledge for you to have, no matter where you are stationed!

Welcome Cheryl. I love old homes too!

This topic always makes me shake my head due to the misunderstanding "investors" get in the general marketplace.

Those who have the knowledge, ability, funding, and risk tolerance for investing in or rehabbing and selling properties is not unlike any other business. Yes of course there are bad apples that give the title a bad name, but last time I checked there were no crooks, liars, or opportunists in the banking industry either, right?

Interesting how banks can be so frivolous in their lending, get bailed out, Fed and Treasury make a profit, and take years and years to put any sort of solutions in the marketplace to unwind the millions of bad loans and billions of dollars of bad debt they've issued. Yet, heaven forbid an investor buy a short sale/foreclosure, fix it up, and sell it for a profit in less than 90 days of taking title.

I'm sure NAR wasn't telling any Realtors not to sell houses to buyers from the early 2000's, cash or otherwise, and whatever rhetoric they have to offer is aligned in a world of agency. Pretty sure those first time home buyers aren't going to solve the issue of gulping up the overflow of foreclosures that need updating.

Let them continue to argue semantics. The rest of us will be out here earning a living actually helping people and offering much-needed solutions in our respective marketplaces.

Hi Mir,

I'm here in Phoenix and work at a brokerage that does bid services, and I am a fix and flipper/investor.

Will has some good insight and many people are buying at auction are looking to keep the properties, so they're willing to pay almost, full, and over full price for certain properties. There's 30-50 bidders everyday because they're representing hundreds of buyers that have information, cash, and are willing to taking a calculated risk.

You can get a title check on the properties that will verify you are in fact bidding on a first position. However, the speed in which you must be able to pull comps, get to the property and estimate repairs, get a bid in, and actually get a winning bid becomes a full time job. Using a bid service can take some of this off your plate but you still need to go by and look at the properties and calculate your maximum bid and what the property can sell for. All this, for each property, typically has to be done in less than 24 hours. If you have no experience I HIGHLY recommend starting off in an acquisition method that carries less risk.

If you have some money but no credit I'd suggest spending a little bit of money on marketing and learning to wholesale. There's a lot of info on wholesaling on BP but if you want any insight you're more than welcome to use me as a resource.

Great list!

Hi guys, sorry I missed it. I decided to come out to Hawaii at the last minute and forgot to let you know I would not be able to attend. I'm glad it went well and look forward to the next one!