All Forum Posts by: Tina Lee

Investing in real estate is a very popular thing! It is great for residual income and quick cash flow. I am part of a women's realtor group with top 10% agents.  Each week we discuss current issues that arise.  Last week we got in the conversation about investors. 2 of us, in our group, had the same investor telling us he was working with us, and having us write up low offers.  Now neither of us will put any further time in to that person. We get soooo many calls and texts (Average 3 a day) from investors that are looking for us to give them our off market properties in need of renovations. ("Hey this is your best friend."  "Hey looking for any off market properties you might have." "Make sure to call me for any great investments." "I am looking for an agent in AZ-theres a long conversation-I am an investor here") Being a realtor we build relationships.  Our loyalty and duty is to our clients.  It takes a lot of time and work to pull properties, get comps, drive to locations for someone who has no loyalty to us.  I highly recommend that you find a really good agent that will work for you, and help you with ANYTHING you need.  Not all agents respond quickly, get you the info you need, show you properties when you need, and know how to negotiate well...THEN its time to talk to a different agent. When you do mass texts and calls it frustrates the realtors more then them wanting to help you.  If we have properties, we call the investors we are working with regularly.  They become our priority.  We even talk amidst each other to see if someone has an investor that would be interested in that area/price range first.  Ask yourself if you can expect them to invest in you, if you aren't willing to invest in them.  This is a business, realtors are your employee.  How loyal do you want your employees of your other businesses to be? Quality or Quantity?  Find the quality and you wont need the quantity.

The Super Bowl is coming in February!  Arizona is always great for rentals during the Fall, Winter and Spring Months.  We get fall breakers, holiday visitors getting out of the snow, and spring training/spring breakers....but now is a great time to buy, prices have been gradually dropping for homes that need work. (Value Add) and we are entering the Super Bowl 2023 football season, they are expecting rents 10 times the normal rent amount. Last time Arizona hosted the super bowl we saw an influx after of buyers purchasing homes once they experienced this area. Now is a great time to be looking in Arizona for your Air BnB and Midterm rentals.  Make that EXTRA CASH this year!

Emotional Attachment.  Investments are business.  Sometimes new investors want to love the house like their own home.  Do not buy the most expensive home on the block.  Make sure you get it under value, and can value add with the inexpensive things.

Beware of zillow.  They make their money charging realtors for leads.  That is all they care about.

Welcome Gary!  Best of luck to you!  If you decide to cross the border to AZ, I work with a lot of California peeps!

Let me know if you are looking for wholesale properties in Norfolk Virginia and surrounding areas.  I have a great wholesaler there.

I am seeing a lot more clients interested in investing in Multifamily.  Rents are very high in Arizona right now, and with the super bowl coming rents through this winter are at an extreme height above the already higher percentage of rent prices.  

The MLS has a lot of properties that are lowering prices and lower then comps for that value add. Off market properties are good as well. I am finding that the wholesale "companies' are taking such a markup that their prices aren't really much less then a lowered price contract on MLS.

Depending on the market, some will change more quickly then others.  In Arizona, we are definitely seeing homes on the market longer, and the ones that need renovating are dropping in value...we are becoming a more balanced market.  There was a a crazy market for a long time, so it feels like we are dropping drastically.  Also thinking it may continue on a gradual slide for the next year...election year may go up for all the people that have been waiting to see?