It is definitely a buyers
market!!! There are many homeowners in Phoenix Metro Area stuck in the exit for so long that are now able
to sell their positions to larger investors with big horsepower!
We hit the rock bottom 3 years
ago here and yes, if you bought Ford stocks at $1 then you would be paying ten times more for it today as well. However, we have only gone back up to 2004 home values
in most Phoenix Metropolitan Areas. At 10% running inflation since we
should have been back up to what they sold for at the height of the market in
2007 and that’s exactly why the big equity funds are fueling this
current frenzy in the market expecting big returns in a few more years.
The bottom line is whether you
are buying one to live in or increasing the size of your portfolio, you are
sitting pretty. People who have money know how to play the game. Do what large
Equity Funds are doing, buying in bulk from Fannie Mae, keeping the most desirable ones, banking on the future, 4 to 5 years from now.
OK. Time out! I only have $200,000 in
the bank and I want to get on the game. What do I do? I get this question every
single day. Well, here is what I would do. Get my finances in line, put 35%
down and buy two $250,000 to $300,000 single family homes in most desirable areas.
This is not the time to play the
penny stocks! The same rule works here in Phoenix Metro. It’s time to invest in
APPLE and not how many sq ft you can buy in Katmandu.
How do I find these gems and who
should I trust if I live 3000 miles away and have no clue what I am buying?
Good Question. I get calls often from investors whose agent told them this
house rents for this or that, a lot more than what the market bears and when we
go look at it, yes, they sold them a pretty house in a town where we would recommend but
all the way at the edge, next to a cow pasture. They were told it rents for
$2500, we can barely get $1600 for and who wants to live out there anyway even
when the market shoot back up? So, you just made an uniformed real estate investment decision and now you expect
us to deal with it.
We are hands on in the business
every day, 16 hours of it 7 days a week, 366 days of the year. We are married
to your investment till we hand over the keys to the next homeowner.
I run the investment part of the
business and I have a well qualified staff to lease and mange your investments.
I am your eyes and ears out here on the filed while you go play and my success
is tied to yours.
90% of my listings are purchased
by my own investors before the hit the market. I let other agents sell the
other 10% not because I don’t have buyers for but they don’t meet my
expectations.
Time is of the essence. No, it is
not. I would rather see you pay a few thousand more waiting for the right
opportunity and if you run across an old lady from Pasadena on your way, let me know, we married
up on it.
If you have got your money and
finances together, please let me know what your agenda is. I can not tell you
if 20 years from now a certain area is where you want to retire but what I can
do is to give you an honest opinion what I know to help you with your due
diligent.
Owing an investment property may be fun if you own
the one next to the one you live in. Otherwise; please leave it to the experts.
I follow George Clason’s 7 basic principals of financial
freedom:
The Richest Man in Babylon
1) Start thy purse to fattening 2) Control thy expenditures
3) Make thy gold multiply
4) Guard thy treasures from loss
5) Make of thy dwelling a profitable investment
6) Insure a future income
7) Increase thy ability to earn
