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Replies (27)
- rockinblu
- Contributions:7202
I don't know anything personally about this agent, but in following his posts on Trulia, I've come to an opinion that he's not full of crap. You might give him a try.
- Chad Hagenson, "azchad"
- Contributions:125
Hello,
I just sold 3 investment homes and am working on another one today. Let me know if you have any questions for me.
That is considered the "baseline corridor" and has been a popular area due to the affordability and convenience to downtown phoenix for most people.
There are currently 127 bank owned homes over 1500 sqft and priced under $150k in that area.
I just sold 3 investment homes and am working on another one today. Let me know if you have any questions for me.
That is considered the "baseline corridor" and has been a popular area due to the affordability and convenience to downtown phoenix for most people.
There are currently 127 bank owned homes over 1500 sqft and priced under $150k in that area.
- Jay Thompson, "PhoenixRealEstateGuy"
- Contributions:31
Well thanks rockinblu! (I don't think I'm full of crap either, but I am somewhat biased).
Unfortunately, as a licensed real estate broker political correctness gone wrong prevents me from telling you the perception of any area. I can say that Chad's correct in that the Baseline Corridor is convenient to Phoenix proper. There has been tremendous redevelopment in that area over the past few years.
With close to 50,000 homes currently listed in the Phoenix area MLS, there are several areas with homes in your size/price range. Some "outlying areas" may also fit your needs.
Rental market is a little soft, but there are some excellent deals to be had. Many REOs move pretty quickly, especially if they are not completely trashed.
Unfortunately, as a licensed real estate broker political correctness gone wrong prevents me from telling you the perception of any area. I can say that Chad's correct in that the Baseline Corridor is convenient to Phoenix proper. There has been tremendous redevelopment in that area over the past few years.
With close to 50,000 homes currently listed in the Phoenix area MLS, there are several areas with homes in your size/price range. Some "outlying areas" may also fit your needs.
Rental market is a little soft, but there are some excellent deals to be had. Many REOs move pretty quickly, especially if they are not completely trashed.
- Stephanie Weiss, "Stephanie Weiss"
- Contributions:88
Laveen, at approximately 51st Ave&Baseline has tons of available properties that match your criteria that are short sales, pre-foreclosures and foreclosed home.
- J. Duenas
- Contributions:1
I have a question for Chad and Phoenix Real Estate Guy-
If you had $150K cash, and did not live in the U.S., what would you purchase in Phoenix that would generate a nice cash flow and eventual appreciation?
If you had $150K cash, and did not live in the U.S., what would you purchase in Phoenix that would generate a nice cash flow and eventual appreciation?
- Kenny M.
- Contributions:9
If you are not from Arizona and don't have the chance to drive around, then I would be careful where you buy off Baseline.
- laurie frame, "laurieframe"
- Contributions:61
Your investmest type and needed cap rate would be helpful to whichever agent you choose to engage to locate your properties. Also -were you looking for single family residences, duplex, condos? Did you want tenents already in place etc? There many variables to take into account before deciding on which areas might be of interest to you and meet your needs. Best of luck to you.
- westridge88
- Contributions:134
Thank you for your replies...I ended up starting with a 2 year old bankowned property in just north of Indian School and a near a cross street of 152nd Ave (Goodyear). The home is 3850ft2 for $155k...It needs some appliances but thats about it. I figure at this price I can still sustain a decrease in the market and still be above board. I will be moving to phoenix for approx 6 months where I can watch the market closely and plan my next attack :-) Any comments on latest market conditions or trends?
- Stephanie Weiss, "Stephanie Weiss"
- Contributions:88
At the beginning of April when I searched the MLS, 61% (or 7,620) of the pending transactions are under $150,000.00. Properties in those price ranges are HOT right now! The breakdown is as follows:
List Price (Pending Transactions)
$0-$99,999.00 (4,743 (38%)
$100,000.00-$149,999 (2,877 (23%)
$150,000-$199,999 (1,837 (15%)
$200,0000-$249,999 (944 (8%)
$250,000 and above (2,043 (16%)
- Breeze7579
- Contributions:8
Can you do a CAPA on a bank owned home?
- Dubble
- Contributions:8
Why don't you try the desert, i herd there is alot of land out there to buy.. That way you won't be taking any homes from people trying to buy homes to live in..Homes are for families, not for investments..!!!!
- westridge88
- Contributions:134
Sure Dubble, I will leave all the good deals to you. There are enough deals out there for everyone who is ready to buy. Don't make me feel bad for supporting my family!
- Breeze7579
- Contributions:8
Why so rude Dubble? This site is for people to find homes (GET IT?) Whats the matter dont you have a house? Some of us like to invest and make money so we can pay for the freeloaders with our large taxes, So why dont you go live in the Desert I hear tents are cheap!!! Leave us honest people that are looking for investments alone.......Oh by the way right now there are thousands of houses setting out there empty and when this happens this is not good for that neighborhood, It can cause the neighbordhood to lose its value.....Did you stop to think that this person has worked hard all their life and now wants to invest her savings while the market is good for the buyer????
- laurie frame, "laurieframe"
- Contributions:61
That area code has many quality homes available. Are you looking for short or long term investments? Whats the cap rate you would like to have on these properties etc?
- Daniel Reynolds, "Broker Executives"
- Contributions:355
I've been working mainly lower income housing. Prices around 20k in Phoenix. I have many investors interested in these homes. They're cash only properties, which if that tells you anything, they need work. Most stil have their AC units and only need new carpet and possibly a new kitchen. I recently was able to get a duplex contracted for 10k..no joke. I would try and stay away from properties that costs you over 30k. Just for the cash flow fact. If you can buy 3 properties around this price for the price of one nice looking homes which is better? 3 homes x 500 per month rent = 1500. One home for 90k rent = 900 at best. You'll have 600 per month cash flow. Now that's a smart investment. Even better, let's say 3 of these properties appreciated 100% to 60k. That's 90k in appreciation. The most a 90k could appreciate anytime soon would be 140k. Difference of 40k. All the numbers point to lower income housing. Banks are giving these homes away. The proof is in the numbers.
- westridge88
- Contributions:134
Daniel,
Please post your email address here...I tried to copy it from your page but did not seem to work. As I have posted here, I have purchased a property which I will live in for 6 months at a time...I don't really have any interest in being a slum lord(severely beat down rental homes) however I am interested in purchasing decent properties which would attract a good rental crowd...not the unemployed guy that smokes dope all day :-). I would appreciate more feedback on this topic. The first purchase I have made will be a second home for myself along with being a higher end rental when I am not around. Any feedback is appreciated.
Please post your email address here...I tried to copy it from your page but did not seem to work. As I have posted here, I have purchased a property which I will live in for 6 months at a time...I don't really have any interest in being a slum lord(severely beat down rental homes) however I am interested in purchasing decent properties which would attract a good rental crowd...not the unemployed guy that smokes dope all day :-). I would appreciate more feedback on this topic. The first purchase I have made will be a second home for myself along with being a higher end rental when I am not around. Any feedback is appreciated.
sub 20K properties do exist in phoenix. Just be careful you don't get high velocity lead poisoning on or near the property. I'm not interested in buying these kinds of homes for me, and not interested in working with clients on these either. Forget the risk of losing money, the risk of losing life is more serious.
You guys do know there is a reason why entire neighborhoods in Detroit sell for basically $0, right? Entire parts of west phoenix have the potential to become the detroit of the west...
You guys do know there is a reason why entire neighborhoods in Detroit sell for basically $0, right? Entire parts of west phoenix have the potential to become the detroit of the west...
- westridge88
- Contributions:134
azrob,
If you are going to buy a home for 120-150k in the phoenix area...where would you put your money...if you are uncomfortable posting here please email me.
- Linda Strasberg, "L Strasberg"
- Contributions:2315
Why only Phoenix?
- Daniel Reynolds, "Broker Executives"
- Contributions:355
Have you chose a Realtor Yet?
- HomeSand.net, "White Picture"
- Contributions:4395
"Why only Phoenix? "
Because Westridge88 is moral man, he try to avoid the sin cities, even if there are the beauties like Linda, he still don't bothers.
Because Westridge88 is moral man, he try to avoid the sin cities, even if there are the beauties like Linda, he still don't bothers.
- Blair Ballin, "Blair Ballin"
- Contributions:788
Are you still looking for properties?
- Martha Staten, "Martha Staten"
- Contributions:26
You found me! What can I do for you?
pathetic begging!!!!!
- Michael Emery, "MikeEmery"
- Contributions:7298
Poor Martha! She sure was lost for an awful long time!
Next year I am buying everyone on Zillow a calender.
Next year I am buying everyone on Zillow a calender.
- Kathy DeAngelis, "Kathy DeAngelis"
- Contributions:178
I am a realtor and an investor. I buy in the 85032 area code. I would be happy to help if you need it. kathydeang@cox.net
Kathy DeAngelis
Realty Executives
- Sue Pellecchia, "Agent Apple"
- Contributions:14
Should anyone be looking for properties in zip codes 11209, 11228, 11214 and the 'rest' of Brooklyn, NY....I'm happy to help in your search. Staten Island too. Appleseed Homes, 7822 13th Avenue, Brooklyn, NY, 11228. (DYKER HEIGHTS). [content removed by moderator] I also have plenty of lovely rentals, commercial storefronts. Looking for a condo, co-op, vacant land - be glad to scour the neighborhoods looking for what you want. Bay Ridge, Dyker Hts., Bensonhurst, Bath Beach, Gravesend. Call anytime if you need help in the Brooklyn area. All the best ! Sue
Investor looking for a good neighborhood and realtor
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