All Forum Posts by: Zane Belden

Ya, do what John Van Uytven did ;)

Joshua Atteberry I know the property you're taking about. I went to college there and had a friend that actually lived in that property. I wonder if you could get a contractor who specializes in foundation repair to do a walk through with you and give you a bid. Then request to have this paid by the seller. If there foundation issues are serious then the seller knows they will have a hard time selling so they may take you up on the offer. On the plus side, once renovated, I think that place would be very easy to keep full with the college students.

Hey all, Looking to connect with a broker who has experience and expertise with small to mid multifamily in the Phoenix/Scottsdale area. Look forward to hearing from you!! Thanks, Zane

Jay Hinrichs love what you're doing here Jay! Very cool!

@Jared GreenHi Jared, hope all is well. It sounds like we are interested in a similar investment type.  Have you been able to find a good broker who has expertise in this small to mid multifamily? I'm in the process of putting a similar type of team together and I'm trying to view and analyze as many deals as I can to hone in on exactly what I want.

Look like your post was 10 month ago so I'm interested to hear if you're making any progress?

All the best, Zane

@Brandon BellinoI've lived in and been investing in Scottsdale since 2013.  Scottsdale is nicknamed the most livable city for a reason. Amazing weather beside a couple summer months, luxury retail and almost any activity you could think of within 20 minutes.  And, if you have money and want to be a snowbird, Scottsdale such an easy and convenient choice.  Scottsdale has also been a spot that celebrities are attracted to because of the extremely high standard of living.

Price per square foot has really shot back up in the last couple of years but if you had the money to invest after the 2008 crash (2009-2012), it was an incredible opportunity.  But, that opportunity has appeared to dwindle and finding good deals has become more difficult, but not impossible.  Both my purchases have been short sale foreclosures that I was just very lucky to find and had lucky timing.  Of course, the more you search and put time into it, the better your luck seems to be.

I'm not an agent but have friends that are and if your willing to put the work in, Scottsdale is a pretty amazing place to be an agent.  So much turnover.

@Doug RoseWhat type of rehab? SFR,Condo, Multi? IT seems like a strong rehab project is a good way to go in Scottsdale now because anything turkey will be price too high to cashflow.

@Doug McVinua Thanks for the info!

I like the 4-plex fix up strategy your client executing.  Is this in the Gilbert area?  Tempe/Mesa/Gilbert all seem to be better cashflow ventures than Scottsdale a this point.  Haas this been your observation as well?

I've always been a fan of Scottsdale condos because of rent rates, ease of renting and extremely high seasonal rates. But in many communities the HOA seems to dig into the cashflow too much. I have a furnished townhouse that draws huge seasonal rates but I'm finding it relatively hard to rent in off season because people want unfurnished for offseason. Do any of your clients play this game of deciding between high seasonal furnished vs steadier off season unfurnished. If so, what seems to be working out best for them?

Thanks, Zane

Thx @Mark Nolan!!

@Gary Nakauchi I don't think I'm necessarily set on a specific number of units, more on the particulars of the property numbers. But I think 4-12 units would be a good spot for me. And I'm not opposed to SFR and condos, they just seem to be priced awfully high right now. That said, I've been looking at foreclosure auctions to see if a good buy on SFR or condos can be had. DO you or do you know anyone with experience with going this route?

Thx for the tip on Loopnet premium, I've been wondering if it was worth it.

I really haven't researched hard into Mesa but I'm going to start.  Seems like purchase price in that area might give a little more room for better cashflow.  No, I did not see the Shill property, where is it listed or did it sell already?

Newbie BP question: how do you ask people to be your colleague and how do you private message BP members?

Thanks, Zane

Joshua, Welcome to BP! I'm new to BP but have been investing for a couple years now. I'm also from southern IL. Just thought I'd say hey and let you know I'm here if you want to bounce ideas off of me. All the best, Zane

Thx Jon! Dalton, both! I spend part of the year in AZ and part in IL.