Offlineok so i was reading that phoenix is one of the places were you should not be investing right noe because it is still expected to decline??? i would see this as a great opportunity to take advantage of but what happens if you get in a property and then your in the same boat everyone is your upside down????
what do you all think about this, i just started investing and yes I am still scared to fail and not make it but if i dont try I will never know I just want to invest smart
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I think Dean lives in Phoenix, and he says that the best time to get in is RIGHT NOW. My advice would be to ignore what you've heard and make your move. You don't want to look back 5 years from now and say to yourself, "MAN! I missed it! I could've been rich by now!"
I do have a question though.
The people who told you not to invest in Phoenix, are they investors as well? If they're not, then it wouldn't be a good idea to listen to them.
Take a look at all the factors, look at the area and see what homes are going for. Make offers 40% or more below fmv. Look in an area that will always be good to have a home in, near schools, shopping, no crimes. There has never been a better time to buy buy buy! It is ok to be scared, but you are doing the smart thing by investing, that is exactly what I said, if you don't try you'll never know.. because I tried I own a house at 18years old. Look for the right deals in the area, they are out there. Tell us more info on the exact location you are investing in in Phoenix.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Good-day,
robert88 thank-you for your comment! I believe as a REI...We must test ourself's,That is the true test.Market right now is close bottom,If you are real estate invester...You always get the advantage(something for free)in a way of speaking in any deal you can do, And break even! You are winning with action!
To me this is a numbers game,Not to say...Always be polite!!!
P.S.Thank-you,And you know who you are!!!!!!!!!
Invest in yourself!
If you watch one are more of Deans latest shows, you will see that even in times where the market is at are near the bottom, when you buy, you should make your bid where you can afford to rent out the house, apt, or whatever it is and cover your payment, insurance, and taxes, as well as try and have a little left over as positive cash flow and to cover repairs. This way, you can hold on/out untill the market improves or when you can turn the property for a tidy profit. The trick is to do your homework and do not bid more than what is a doable deal. Being new to the family is a scary thing, but do not think that you are alone. Reach out to the help lines and they will work with you through whatever problems that can come up. This is new to you but keep the faith and you will prevail. GOOD LUCK!
erh
You walk not alone, for this is when he is with you!!!God bless
erh
my advise would be to be very careful where you buy in phoenix. some areas in the outlining areas like Queen Creek, may take 5 or so years to come back up....so, it depends on why you are buying and when you want to take your profit. we have tons of foreclosures and it is a great market to buy in. just know what your exit strategy is and when you want to cash out when buying in a certain area.
good luck and buy now!
"Some live 70 years like one day. Some live one day like 70 years." King David
Be the cause of your life, not the effect! AND MY FAV...Are you being productive with your time, or are you just busy?