#home mortgage company in Arizona

[homeloanprovider]

Ranking the Best Mortgage Brokers in the State

Arizona's real estate market is booming, with more people looking to buy homes than ever before. However, navigating the complex world of mortgages can be daunting. That's where mortgage brokers come in. These professionals act as intermediaries between borrowers and lenders, helping you find the best loan options for your needs. In this article, we'll explore the role of mortgage brokers in Arizona and highlight some of the best brokers in the state.

Understanding the Role of Mortgage Brokers

The Best Mortgage Brokers Arizona are professionals who help borrowers find the right mortgage products and lenders for their needs. These brokers work with a variety of lenders to offer borrowers a range of options and help them navigate the mortgage process from application to closing. Mortgage brokers play a crucial role in the home buying process. Unlike loan officers who work for a specific lender, brokers work independently and have access to a wide range of lenders and loan products. This means they can shop around on your behalf to find the best loan terms and interest rates. Additionally, brokers can help you navigate the often complex mortgage application process, ensuring you meet all the necessary requirements.

Read more - Mortgage and Refinance Rates in Arizona

Criteria for Selecting the Best Mortgage Brokers

When choosing a mortgage broker, it's essential to consider several key factors:

Experience and Reputation: Look for brokers with a proven track record of success and positive reviews from past clients. Experience matters when it comes to navigating the intricacies of the mortgage market.

Range of Lenders and Loan Options: The best mortgage brokers in Arizona will have access to a diverse array of lenders and loan products, ensuring that you have options tailored to your specific needs.

Customer Service: A broker's level of customer service can make a significant difference in your mortgage experience. Seek out brokers who prioritize communication, transparency, and responsiveness.

Fees and Costs: Understand the fee structure of any broker you're considering. While some brokers charge upfront fees, others earn their commission from lenders. This refers to a company that provides mortgages or home loans to individuals looking to purchase a home in Arizona. Home Mortgage Company in Arizona offer a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, and government-backed loans like FHA or VA loans. Make sure you're comfortable with the costs involved before committing to a broker.

Tips for Working with a Mortgage Broker

When working with a mortgage broker, it's important to be prepared. Have all your financial documents ready, including pay stubs, tax returns, and bank statements. Additionally, be honest about your financial situation and goals. This will help your broker find the best loan options for you.This refers to a company that provides mortgages or home loans to individuals looking to purchase a home in Arizona. Home Mortgage Company in Arizona offer a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, and government-backed loans like FHA or VA loans. 

Finally, stay in communication with your broker throughout the process. This will ensure that everything goes smoothly and that you're able to close on your loan on time.

Finding the right mortgage broker in Arizona can make all the difference when buying a home. By following the tips outlined in this article and choosing one of the top brokers in the state, you can streamline the home buying process and secure the best loan terms possible. Contact a reputable broker today to start your journey towards homeownership in Arizona.

Frequently Asked Questions

1. What is a mortgage broker, and how do they differ from lenders?

A mortgage broker is a licensed professional who acts as an intermediary between borrowers and lenders. Unlike lenders, who provide loans directly to borrowers, mortgage brokers work with multiple lenders to find the best loan options for their clients.

3. Why should I use a mortgage broker instead of going directly to a bank?

Mortgage brokers can shop around on your behalf to find the best loan terms and interest rates from multiple lenders, saving you time and potentially money.

4. What criteria should I consider when choosing a mortgage broker?

Look for a broker with experience in the Arizona real estate market, a strong network of lenders, positive client testimonials, and all necessary licensing and certification.

5. How do mortgage brokers get paid?

Mortgage brokers typically receive a commission from the lender once the loan is closed. This commission is usually a percentage of the loan amount.

6. How long does the mortgage process typically take when working with a broker?

The timeline for the mortgage process can vary depending on factors such as the complexity of your financial situation and the lender's requirements. A mortgage broker can provide a more accurate estimate based on your specific circumstances.

7. Are there any advantages to using a local mortgage broker in Arizona?

Working with a local mortgage broker can offer several benefits, including their familiarity with the local market and regulations, personalized service, and the ability to meet face-to-face if desired.

8. Can I use a mortgage broker for refinancing my existing mortgage?

Yes, mortgage brokers can assist with refinancing your existing mortgage. They can help you explore refinancing options to potentially secure a lower interest rate, reduce your monthly payments, or change the terms of your loan.

9. What should I expect during the mortgage application process with a broker?

Your broker will help you gather all necessary documents, submit your application to lenders, and communicate with you throughout the process to ensure everything goes smoothly.

10. How can I find the best mortgage broker in Arizona for my needs?

Research brokers online, ask for recommendations from friends or family, and schedule consultations with potential brokers to discuss your needs and goals.

Get in touch

Website – https://homeloansproviders.com/ Mobile – +91 9212306116 Whatsapp – https://call.whatsapp.com/voice/9rqVJyqSNMhpdFkKPZGYKj Skype – shalabh.mishra Telegram – shalabhmishra Email –  shalabh.web@gmail.com

[beardedmrbean]

California is facing a record $68 billion budget deficit.

This is largely attributed to a “severe revenue decline,” according to the state's Legislative Analyst's Office (LAO).

While it’s not the largest deficit the state has ever faced as a percentage of overall spending, it’s the largest in terms of real dollars — and could have a big impact on California taxpayers in the coming years.

Here’s what has eaten into the Golden State’s coffers.

Unprecedented drop in revenue

California is dealing with a revenue shortfall partly due to a delay in 2022-2023 tax collection. The IRS postponed 2022 tax payment deadlines for individuals and businesses in 55 of the 58 California counties to provide relief after a series of natural weather disasters, including severe winter storms, flooding, landslides and mudslides.

Tax payments were originally postponed until Oct. 16, 2023, but hours before the deadline they were further postponed until Nov. 16, 2023. In line with the federal action, California also extended its due date for state tax returns to the same date.

These delays meant California had to adopt its 2023-24 budget before collections began, “without a clear picture of the impact of recent economic weakness on state revenues,” according to the LAO.

Total income tax collections were down 25% in 2022-23, according to the LAO — a decline compared to those seen during the Great Recession and dot-com bust.

“Federal delays in tax collection forced California to pass a budget based on projections instead of actual tax receipts," Erin Mellon, communications director for California Gov. Gavin Newsom, told Fox News. "Now that we have a clearer picture of the state’s finances, we must now solve what would have been last year’s problem in this year’s budget.”

The exodus

California has also lost residents and businesses — and therefore, tax revenue — in recent years.

The Golden State’s population declined for the first time in 2021, as it lost around 281,000 residents, according to the Public Policy Institute of California (PPIC). In 2022, the population dropped again by around 211,000 residents — with many moving to other states like Texas, Oregon, Nevada, and Arizona.

Read more: 'It's not taxed at all': Warren Buffett shares the 'best investment' you can make when battling inflation

“Housing costs loom large in this dynamic,” according to the PPIC, which found through a survey that 34% of Californians are considering moving out of the state due to housing costs.

Other factors such as the post-pandemic remote work trend — which has resulted in empty office towers in California’s downtown cores — have also played a role in migration out of the state.

Poor economic conditions

In an effort to tame inflation in the U.S., the Federal Reserve has hiked interest rates 11 times — from 0.25% to 5.5% — since March 2022. These actions have made borrowing more expensive and have reduced the amount of money available for investment.

This has cooled California’s economy in a number of ways. Home sales in the state are down by about 50%, according to the LAO, which it largely attributes to the surge in mortgage rates. The monthly mortgage to buy a typical California home has gone from $3,500 to $5,400 over the course of the Fed’s rate hikes the LAO says.

The Fed’s rate hikes have “hit segments of the economy that have an outsized importance to California,” according to the LAO, including startups and technology companies. Investment in the state’s tech economy has “dropped significantly” due to the financial conditions — evidenced by the number of California companies that went public in 2022 and 2023 being down by over 80% from 2021, the LAO says.

One result of this is that California businesses have had less funding to be able to expand their operations or hire new workers. The LAO pointed out that the number of unemployed workers in the Golden State has risen by nearly 200,000 people since the summer of 2022, lifting the percentage from 3.8% to 4.8%.

Fixing the budget crunch

The LAO suggests that California has various options to address its $68 billion budget deficit — including declaring a budget emergency and then withdrawing around $24 billion in cash reserves.

California also has the option to lower school spending to the constitutional minimum — a move that could save around $16.7 billion over three years. It could also cut back on at least $8 billion of temporary or one-time spending in 2024-25.

However, these are just short-term solutions and may not address the state’s longer term budget issues. In the past, the state has cut back on business tax credits and deductions and increased broad-based taxes to generate more revenue.

Mellon did not reveal any specifics behind the state’s recovery plan in her comments to Fox News. She simply said: “In January, the Governor will introduce a balanced budget proposal that addresses our challenges, protects vital services and public safety and brings increased focus on how the state’s investments are being implemented, while ensuring accountability and judicious use of taxpayer money.”

[cathyjane]

Key Perks of Hiring a Real Property Representative in Scottsdale AZ

Scottsdale, AZ, with its own dynamic area, spectacular landscapes, and elegant homes, is actually a prime area authentic estate investments. Whether you're getting or even selling a property, browsing the property market may be intricate and demanding. Employing a qualified property broker can make all the variation. Here are actually the top reasons to choose a property agent in Scottsdale, AZ.

Expert Understanding of the Scottsdale Market

The realtors in phoenix AZ have comprehensive expertise of the regional market. They stay updated on the current trends, property worths, and community characteristics. This knowledge is actually invaluable when finding out the ideal cost for a home, whether you're purchasing or even selling.

Top real estate representatives in Scottsdale, AZ, possess access to comprehensive market records and analytics. This relevant information allows them to provide accurate residential or commercial property assessments and negotiate the most effective deals. Their knowledge right into Scottsdale real property trends help clients make updated decisions, ensuring they get the very most market value for their expenditure.

Significant Network and Resources

Scottsdale brokers possess extensive systems that feature other real property brokers, home mortgage brokers, home examiners, and professionals. This network is a significant advantage when you're seeking to get or sell a home. For customers, this suggests accessibility to new house in Scottsdale just before they reached the market place. For sellers, it implies their residential or commercial property is marketed better to a more comprehensive viewers.

Top real property representatives in Phoenix and Scottsdale take advantage of their relationships to provide customers with a smooth real estate knowledge. They can suggest relied on specialists for each step of the purchase, from pre-approval for a mortgage loan to finalizing repairs before listing a home.

Competent Mediators

Agreement is a vital element of any real estate purchase. Scottsdale property representatives are skilled negotiators who recommend for their clients' greatest passions. They possess the adventure to deal with numerous instances, including various deals on a building or even counteroffers from prospective customers.

A best realtor Scottsdale, will certainly arrange the most effective feasible phrases and price for your building. Whether you're getting a high-end home in Scottsdale or even selling a loved ones house, their negotiation abilities guarantee you accomplish your economic goals. They comprehend the nuances of agreements and contingencies, guarding you from prospective challenges in the course of the transaction.

Time and Worry Management

Getting or selling a home is actually a significant life occasion that could be time-consuming and taxing. Real estate companies in Scottsdale take on the bulk of the work, allowing you to concentrate on your every day life. They take care of everything from booking showings and open residences to dealing with documents and coordinating along with various other professionals included in the transaction.

Scottsdale real estate professionals simplify the process by ensuring all information are dealt with efficiently. They supply regular updates, thus you are actually constantly in the loop without being actually confused. This level of support is actually especially useful when dealing with luxury house in Scottsdale, which usually require more ornate advertising and marketing and discussions approaches.

Accessibility to High-end and Exclusive Listings

Scottsdale is recognized for its own luxury homes and elegant lifestyle. When seeking luxury homes Scottsdale, possessing a real estate agent gives you accessibility to exclusive directories that may certainly not be actually on call to everyone. Release Real Property Arizona and various other best firms frequently possess a profile of high-end buildings that merely they may present to potential buyers.

These agents provide services for Scottsdale deluxe real property and understand the unique requirements of well-off customers. They can match you with residential or commercial properties that accommodate your criteria, whether it's a disaparate estate along with impressive perspectives or even a present day condominium in a prime place. Their proficiency guarantees you find a home that certainly not merely satisfies but surpasses your desires.

Summary

Tapping the services of a real property broker in Scottsdale, AZ, offers various perks, from experienced market understanding and extensive networks to skilled settlement and anxiety control. Whether you are actually acquiring a brand new home or selling a high-end residential property, the most effective real estate agent in Scottsdale can easily assist you via the method effortlessly and professionalism and reliability. For those seeking to navigate the affordable and dynamic Scottsdale property market, employing the support of a leading real estate broker is a selection that guarantees considerable perks.

Along with their knowledge, information, and devotion, Scottsdale property agents are your ideal allies in achieving your property goals. So, when considering your following real property deal, don't forget the leading reasons to choose a real property broker in Scottsdale, AZ, and make your experience to locating the ideal home or even closing a prosperous sale as smooth as achievable.

Luxe Client Group

(602) 690-4238

4222 N MARSHALL WAY

SCOTTSDALE, AZ 85251

[smatmaysum]

Meritage Homes Corporation: A Comprehensive Overview

Meritage Homes Corporation is a prominent American homebuilding company known for its focus on energy-efficient homes and sustainable building practices. Founded in 1985 and headquartered in Scottsdale, Arizona, Meritage Homes operates in numerous states across the United States. This article delves into the history, business strategy, notable projects, challenges, and future outlook of Meritage Homes Corporation.

History and Evolution

Meritage Homes was founded by Steve Hilton and John Landon under the original name Monterey Homes. The company quickly established a reputation for high-quality construction and innovative home designs, leading to significant growth and expansion.

Key Milestones

1985: Meritage Homes was founded as Monterey Homes in Scottsdale, Arizona.

1997: Monterey Homes went public through a merger with Homeplex Mortgage Investments Corporation, adopting the name Meritage Homes Corporation.

2006: Meritage Homes entered the Fortune 1000 list, marking its position as a leading homebuilder in the U.S.

2013: The company became the first national builder to install spray-foam insulation as a standard feature, highlighting its commitment to energy efficiency.

2020: Meritage Homes was recognized as the ENERGY STAR Partner of the Year for its efforts in sustainable building practices.

Business Strategy

Meritage Homes Corporation's business strategy centers on innovation, sustainability, and customer satisfaction. The company focuses on delivering high-quality homes that cater to the needs of modern buyers while incorporating advanced technologies and sustainable practices.

Innovation and Sustainability

One of the key pillars of Meritage Homes' strategy is its commitment to sustainability. The company has been a pioneer in building energy-efficient homes, integrating features such as spray-foam insulation, advanced HVAC systems, energy-efficient windows, and water-saving fixtures. This not only reduces the environmental impact but also provides homeowners with significant cost savings on utilities.

Customer-Centric Approach

Meritage Homes places a strong emphasis on understanding and meeting the needs of its customers. The company offers a range of home designs and customization options, ensuring that buyers can find a home that suits their lifestyle and preferences. Additionally, Meritage Homes prioritizes quality construction and reliable customer service, aiming to provide a seamless homebuying experience.

Strategic Expansion

Meritage Homes has expanded its presence across the United States through strategic acquisitions and organic growth. The company operates in key markets including Arizona, California, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Texas. This broad geographical footprint allows Meritage Homes to tap into diverse housing markets and mitigate regional economic fluctuations.

Notable Projects and Communities

Meritage Homes has developed numerous notable communities that exemplify its commitment to quality, innovation, and sustainability. Some of these include:

Verrado (Buckeye, Arizona): A master-planned community featuring a range of energy-efficient homes and amenities such as parks, trails, and schools.

Bristol Meadows (Cary, North Carolina): A community known for its modern home designs and proximity to the Research Triangle Park, a major employment hub.

Watermark (Winter Garden, Florida): A community offering eco-friendly homes with access to recreational facilities, shopping, and dining options.

Challenges and Criticisms

Despite its successes, Meritage Homes faces several challenges and criticisms:

Market Volatility: The homebuilding industry is subject to economic cycles, with factors such as interest rates, housing demand, and material costs impacting profitability.

Regulatory Compliance: Navigating complex building codes, zoning laws, and environmental regulations can be challenging and costly.

Labor Shortages: The construction industry often faces labor shortages, which can delay projects and increase costs.

Future Outlook

Meritage Homes Corporation continues to focus on growth and innovation, with several initiatives aimed at strengthening its market position and enhancing its offerings:

Expansion into New Markets: The company plans to enter new geographical markets to diversify its portfolio and capitalize on emerging opportunities.

Enhanced Technological Integration: Meritage Homes is investing in smart home technologies and advanced construction techniques to improve efficiency and customer satisfaction.

Sustainability Initiatives: Continuing its leadership in sustainable building, Meritage Homes aims to further reduce the environmental impact of its homes through new technologies and practices.

Conclusion

Meritage Homes Corporation has established itself as a leader in the American homebuilding industry through its commitment to quality, innovation, and sustainability. By focusing on energy-efficient homes and customer satisfaction, the company has built a strong reputation and achieved significant growth. As Meritage Homes navigates the challenges of the industry, its strategic initiatives and dedication to sustainability position it well for continued success.

[therls8guy]

What I do as a Buyers Agent might surprise you. #RLS8GUY

In Arizona, builders are everywhere, finding the right home for you, is what I do. I have access to every single home listed for Sale. I've been selling houses for nearly 1/2 my life. So when I get asked what I do as a Buyers agent, I am more than happy to share.

Regardless if its a new home, resale, REO, HUD Home, Short Sale, Foreclosure, Pre-Foreclosure, Estate, Probate, Divorce Sell, I have come across every single type of scenario you can imagine as a buyers agent. 

So when I am asked the question, "why would do I need a buyers agent representing them" on any home for sale, here is a list of what I do as a buyers agent that most don't realize:

1. Schedule Time To Meet Buyers 2. Prepare Buyers Guide & Presentation 3. Meet Buyers and Discuss Their Goals 4. Explain Buyer & Seller Agency Relationships 5. Discuss Different Types of Financing Options 6. Help Buyers Find a Mortgage Lender 7. Obtain Pre-Approval Letter from Their Lender 8. Explain What You Do For Buyers As A Realtor 9. Provide Overview of Current Market Conditions 10. Explain Your Company’s Value to Buyers 11. Discuss Earnest Money Deposits 12. Explain Home Inspection Process 13. Educate Buyers About Local Neighborhoods 14. Discuss Foreclosures & Short Sales 15. Gather Needs & Wants Of Their Next Home 16. Explain School Districts Effect on Home Values 17. Explain Recording Devices During Showings 18. Learn All Buyer Goals & Make A Plan 19. Create Internal File for Buyers Records 20. Send Buyers Homes Within Their Criteria 21. Start Showing Buyers Home That They Request 22. Schedule & Organize All Showings 23. Gather Showing Instructions for Each Listing 24. Send Showing Schedule to Buyers 25. Show Up Early and Prepare First Showing 26. Look For Possible Repair Issues While Showing 27. Gather Buyer Feedback After Each Showing 28. Update Buyers When New Homes Hit the Market 29. Share Knowledge & Insight About Homes 30. Guide Buyers Through Their Emotional Journey 31. Listen & Learn From Buyers At Each Showing 32. Keep Records of All Showings 33. Update Listing Agents with Buyer’s Feedback 34. Discuss Home Owner’s Associations 35. Estimate Expected Utility Usage Costs 36. Confirm Water Source and Status 37. Discuss Transferable Warranties 38. Explain Property Appraisal Process 39. Discuss Multiple Offer Situations 40. Create Practice Offer To Help Buyers Prepare 41. Provide Updated Housing Market Data to Buyers 42. Inform Buyers of Their Showing Activity Weekly 43. Update Buyers On Any Price Drops 44. Discuss MLS Data With Buyers At Showings 45. Find the Right Home for Buyers 46. Determine Property Inclusions & Exclusions 47. Prepare Purchase Contract When Buyers are Ready 48. Educate Buyer’s On Sales Contract Options 49. Determine Need for Lead-Based Paint Disclosure 50. Explain Home Warranty Options

[sellmyhousefastphoenix]

Sell My House Fast Phoenix AZ

The Need for Speed: Sell My House Fast Phoenix

https://6505ea8c5dca7.site123.me/

In the heart of the scorching Arizona desert lies the city of Phoenix, where life moves at a rapid pace. It's no surprise that the desire to "sell my house fast Phoenix AZ" is a prevalent theme among homeowners. The reasons for this urgency vary—job relocations, financial constraints, or the allure of new opportunities—but the need for a swift home sale remains constant.

The Benefits of Sell Your House for Cash

https://www.instapaper.com/p/cashhomebuyerazWhen it comes to "cash for my house," the distinction between cash offers and traditional financing is paramount. Traditional buyers rely on mortgages, entailing appraisals, credit checks, and a lengthy approval process. In contrast, cash buyers offer a streamlined path to closing, minimizing delays and uncertainties.

For those wondering how to "sell my house fast for cash Phoenix," the answer lies in the expeditious nature of cash transactions. By eliminating the complexities of loan approvals and appraisals, cash sales accelerate the timeline, allowing homeowners to proceed swiftly with their plans.

Sell My House Fast Phoenix, Arizona

https://www.zillow.com/profile/cashhomebuyerphoenixThe Phoenix real estate market is as diverse as its stunning landscapes. Different neighborhoods offer distinct charms, catering to a wide range of preferences. To achieve your goal of "we buy houses Phoenix AZ," it's vital to grasp the local market dynamics and identify the areas with high demand.

Traditional real estate sales, while effective, come with their share of challenges. These processes involve listing your property, hosting showings, and waiting for buyers to secure financing. For those seeking to "sell my house fast Phoenix," the uncertainty and unpredictability of these steps can be frustrating.

Researching Local Cash Home Buyers Phoenix, Arizona

https://sites.google.com/view/sell-my-house-fast-phoenix-us/In the realm of "cash home buyers Phoenix AZ," diligence is your shield against potential scams. Beware of buyers who request upfront fees or employ high-pressure tactics. Instead, conduct thorough research, read reviews, and ask for references to ensure your "cash for houses" transaction is safe and secure.

Your quest to "sell my house for cash Phoenix" begins with researching local cash home buyers. Look for reputable individuals or companies known for their fair and transparent dealings. Trustworthy buyers will guide you through a smooth and efficient transaction.

Cash Home Buyers Phoenix, AZ

https://priorityhomebuyers.com/sell-my-house-fast-phoenix-arizona/To attract cash buyers, your property should be in top condition. Address any necessary repairs and consider strategic upgrades that enhance your home's appeal. A well-maintained house is more likely to entice buyers in the competitive "buy my house Phoenix" market.

Staging is an art that can transform your home's presentation. Depersonalize, declutter, and arrange your space to emphasize its best features. A beautifully staged home can leave a lasting impression on potential buyers.

The Selling Process: We Buy Houses Phoenix The negotiation phase is a critical step in your journey to "sell my house fast for cash." Cash buyers often seek a discount in exchange for the convenience they offer. Effective negotiation, characterized by open and respectful communication, can lead to a mutually beneficial agreement.

Even in cash transactions, inspections and appraisals may be part of the process. These steps ensure fairness and transparency, aligning the property's condition and value with the agreed-upon terms, making your "we buy houses Phoenix" deal a sound investment.

Sell Your House Fast Phoenix In the dynamic and ever-evolving Phoenix real estate market, selling your house quickly is not only achievable but also advantageous in many situations. By understanding local market dynamics, selecting the right cash buyer, and presenting your property at its best, you can navigate the real estate landscape with confidence and efficiency, allowing you to embrace the next exciting chapter in your life.

[mfi-miami]

Zillow Home Loans Launches 1% Down Mortgages

Zillow Home Loans Launches 1% Down Mortgages In An Attempt To Compete With Rocket And UWM Zillow Home Loans announces it is launching a 1% Down Payment program. The new Zillow program would allow eligible first-time home buyers to pay as little as 1% down on their next home purchase. Right now, Zillow is only offering the program to first time Arizona home buyers. However, the company plans to…

[dertaglichedan]

Zillow offers 1% down payment to attract more homebuyers

Real estate marketplace Zillow has launched a new program to help people who want to buy homes but are being squeezed out of the market by a surge in interest rates. 

Zillow Home Loans is offering mortgages with a 1% down payment option for eligible homebuyers looking to own property in Arizona, and will contribute an additional 2% at closing, the company said Thursday. It also plans to expand the program to other markets.

"For those who can afford higher rent payments but have been held back by the upfront costs associated with homeownership, down payment assistance can help to lower the barrier to entry and make the dream of owning a home a reality," Zillow Home Loans' senior macroeconomist Orphe Divounguy said in a statement. 

The program will reduce the time it would ordinarily take to save for a down payment, according to Zillow.

"The rapid rise in rents and home values means many renters who are already paying high monthly housing costs may not have enough saved up for a large down payment, and these types of programs are welcome innovations in lowering the potential barriers to homeownership for those who qualify," Divounguy said. 

[ranchrealty]

Reasons To Hire a Realtor For Buying Houses in Phoenix and Scottsdale, AZ

Moving to a new state can be extremely challenging. Trying to find one’s way proves to be equally difficult. Finding accommodation is the most challenging situation that awaits a new entrant to Arizona. It certainly helps to inquire well in advance and then decide to rent a home or invest in property. It is interesting to know that Arizona is indeed alluring, and many people are eager to settle in this state by moving into a self-owned home. ​ The property market conditions are encouraging, with the available facilities being as per the need. Dropping in when there is an open house event in progress is the ideal way to locate the right property, though. Instead, it is essential to connect with a professional and then try to find suitable houses in Phoenix and Scottsdale, AZ. Negotiating the terms is not the only way to clinch a deal, however. The investor must consider the following points before deciding whether the said home is going to be a good choice:

· Finances- It is vital to prioritize finances. The price plays a huge role in purchasing a property, but it is not the only aspect one must check. Getting the finances in order is an essential part before going ahead and looking at properties in the selected neighborhood. Assessing the credit score is a must, as this determines the loan availability required to invest in a home. The associated costs, including down payment, mortgage rate, and closing costs, must be calculated before agreeing to buy the chosen house.

· Realtor- Teaming up with a local real estate agent or a company can make the procedure simpler and cost-effective at the same time. Sure, many companies operate across the country, but only a local realtor would be able to provide detailed information when faced with specific queries. Most of them will be well-versed in local market trends and upcoming neighborhoods that are in demand. Moreover, such realtors can assist with the negotiation as well.

· Touring Houses- It is necessary to check out the home for sale. Some may participate in an open house event, but many homeowners prefer discretion too. The prospective buyer can tour the home with the realtor and check the rooms, water system, construction, and storage space. The seller is likely to be available to take questions from the buyer most of the time. One may make the final decision once the needs are met perfectly. There is no reason to finalize the first house, though. The real estate agent would happily set up more tours until a deal is made.

· Offer- Admittedly, the property would be listed with the for sale tag before being included in directories. The price is sure to be displayed as well. It is important to remember that the initial price is not the final one. On the contrary, the buyer and seller may negotiate avidly and meet halfway to clinch the deal.

There are varied types of houses in Phoenix and Scottsdale, AZ. A buyer must consider several factors and consider properties that meet the requirements. 

[affordableinterestmortgage]

[sunamerican987]

Mortgage Lender Company Arizona

Welcome to Sun American Mortgage Company, where we make the dream of homeownership a reality. Our website is your one-stop-shop for all your mortgage needs, whether you're a first-time homebuyer or a seasoned investor.

We understand that the mortgage process can be daunting, which is why we've created a user-friendly website that provides you with all the information you need to make informed decisions. You can learn about the various mortgage products we offer, such as conventional loans, FHA loans, VA loans, and jumbo loans, and determine which one is right for you.

Our website also allows you to apply for a mortgage online, so you can get the ball rolling from the comfort of your own home. And if you have any questions along the way, our experienced loan officers are just a phone call or email away.

At Sun American Mortgage Company, we're committed to providing our clients with exceptional customer service and competitive rates. We believe that everyone deserves the opportunity to own their own home, and we're here to help make that happen.

To know more about Mortgage Lender Company Arizona just click here.

[realtyhand]

Title Fraud: What are the consequences?

Title Fraud: What are the consequences?

Let’s start by asking what exactly is title fraud. This serious threat is something I’d never heard of before seeing this advertisement.

Your name will be included in the deed if you are the owner of your house. The deed proves that you are the legal owner of the house. The deed is a document that explains the sale of the house to you and gives information about the sale. It is surprisingly simple to read deeds.

Title theft occurs when someone forges your name onto a document (giving ownership of the property to a thief). They create everything necessary to convince the court that you have sold your home. This was not an easy task. The house collateral might be used as collateral to borrow money. This is how they can make a lot of money from forgery.

There are many steps involved.

What is Title Monitoring ? and How can it help me?

Maybe you remember title insurance beginning with the purchase your first home.

When you purchase a property, you pay for title insurance. This insurance does not include title locks insurance. In the event that your title isn’t as it should, you have title insurance. This usually refers to liens or other “encumbrances”, which were in effect before you bought your home. They check the history of your home and pay you up. They pay if it’s not clean. Important to understand that title monitoring does not constitute insurance.

Is Title Fraud Common?

According to my perception, this scam is very rare. It was a new concept to me, and I didn’t know about it until the radio advertisement. It’s not common because it’s difficult to do. Domain expertise is also required. There are many companies such as Realtyhand.com that can help you prevent this type of crime.

The deed must be sent to the county courthouse. The bank will then issue you a loan. The system has so many reviews that it is likely someone will attempt to scam you.

My husband and I weren’t aware that our home had been fraudulently transferred to an unknown company by our county recorder in January. Nobody has ever challenged our homeownership since we were born with mortgages. A group of people created a deed to claim our title, but it was not until January. They presented it to their local credit union.

We did sign a title agreement with them five years back, but when we were refinanced, it seemed that they would support us as legitimate homeowners. The Arizona attorney general was notified about the deed theft. It happens. It’s strange that the credit union didn’t get involved. They should have the ability to levy the mortgage on the house.

A homeowner shouldn’t have any difficulty proving his or her ownership. Fraud deeds shouldn’t be made any easier. The local recorder should verify if any real estate transactions were made. Maybe the property recorder or county tax assessor would have done more research on our house and found that we are the owners since the day we bought it. Perhaps they should have tried to contact us first to inform them that someone had attempted to file another deed.

It was disappointing to learn that the county did not provide any explanations as to why their organization didn’t have checks and balances. They simply pawned the information off to lawyers who would decide if a document is fraudulent.

Arizona is still a wild west State. Anything goes. This is my experience. Despite the fact that there are legitimate companies and individuals, I have observed over the years that Arizona’s laws regarding homeowner protection are poor. Despite the fact that this fraud seems very difficult, it turns out that anyone can file almost anything. In this scenario, a homeowner is powerless to make any changes. Realtyhand.com

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5 Best Homeowners Insurance Companies in Arizona (2022)

5 Best Homeowners Insurance Companies in Arizona (2022)

From Phoenix’s beautiful desert scenery to Tucson’s vibrant food scene, there are plenty of reasons to call the Grand Canyon State home. If you’re an Arizona resident, you’ll want the best homeowners insurance in the state to protect your home. Whether you’re shopping to fulfill a mortgage requirement or to insure your most valuable possessions, it’s essential that you choose your provider…

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Private Money & Self-Storage Investing with Scott Meyers and Jay Conner

https://www.jayconner.com/private-money-self-storage-investing-with-scott-meyers-and-jay-conner/

Scott Meyers shares the world of Self-Storage Investing

Scott and his affiliated companies focus on the acquisition, development, and syndicating of self-storage facilities nationwide. He currently owns and operates over 2,200,000 square feet and over 13,000 units nationwide.

His education organization www.SelfStorageInvesting.com provides courses, tools, life events, and mentoring to help others launch self-storage businesses to enjoy a lifestyle, as his saying goes “free from tenant, toilets & trash!”

His various companies are also very mission-focused and funded the construction of 12 houses in Mexico and the Dominican Republic by taking his staff, partners & other associates on their all-expense-paid short-term mission trips.

Timestamps:

0:01 – Get Ready To Be Plugged Into The Money

1:38 – Jay’s New Book: “Where To Get The Money Now”- https://www.JayConner.com/Book

2:58 – Today’s guest: Scott Meyers

5:44 – How Scott Meyers got started in the real estate business

8:31 – Scott Meyers’ very first storage facility

10:15 – Scott Meyers’ lesson learned on his first storage facility deal

11:04 – What is syndication?

13:29 – Does the storage investing business also offer multiple exit strategies?

17:09 – Get connected with Scott Meyers – https://www.SelfStorageInvesting.com

18:34 – How does the pandemic affect the Self-Storage industry?

22:09 – No business strives unless it’s solving a lot of people’s problems

23:10 – Scott Meyers’ recent projects

25:19 – Best way on starting with Self-Storage Investing business

27:43 – Common mistakes that new self-storage investors make

30:17 – Scott Meyers’ parting comments – “It’s when everybody is running out that you should be, not just running in but understanding what it means to be in the real estate business.”

Private Money Academy Conference:

https://jaysliveevent.com/live/?oprid=&ref=42135

Have you read Jay’s new book: Where to Get The Money Now? It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book

Free Webinar: http://bit.ly/jaymoneypodcast

Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.

What is Real Estate Investing? Live Private Money Academy Conference

https://youtu.be/QyeBbDOF4wo

YouTube Channel

https://www.youtube.com/c/RealEstateInvestingWithJayConner

iTunes:

https://podcasts.apple.com/ca/podcast/private-money-academy-real-estate-investing-jay-conner/id1377723034

Listen to our Podcast:

https://realestateinvestingdeals.mypodcastworld.com/11241/private-money-self-storage-investing-with-scott-meyers-and-jay-conner

Private Money & Self-Storage Investing with Scott Meyers and Jay Conner

Jay Conner:

Stir. And you are still struggling to do your first deal because you don’t have the funding and you can’t find the money for your deals, or are you a wholesaler? And you’ve received some assignment fees, but there’s some deals you want to stay in, but you said probably haven’t been able to stay in the deals because you don’t have the money or the funding, or are you a seasoned real estate investor? And you’ve done a ton of deals, but you’re sick and tired of paying high interest rates and you want to be in control of your business and you just want to get some more cheap money really, really fast. Well, if you answered yes to any of those three questions, don’t go anywhere because I’m getting ready to plug you into the money right now.

Well, hello and welcome to another episode of the private money academy podcast. I’m Jay Conner, the private money authority. I’m the host of the show. And I want to welcome you here to the show here on the private money academy podcast. We obviously always talk about private money and getting deals funded, getting money for your deals. But in addition to that, I typically have an amazing guest and expert to join me here on the show. And today is no exception, but before I introduce you to my good friend and expert in this area of self storage, that you’re going to find amazing. I’ve got a free gift for you for just being here on the show. And that is, I just recently released my new book, which is titled where to get the money now, subtitle, how and where to get money for your real estate deals without relying on traditional or hard money lenders.

So here’s the deal folks. I just released this book hit number one on Amazon. And this book was show you. Step-by-step how I went from having no funding from ideals to over $2 million in less than 90 days and how you can get plugged into money as well. We’re not talking about traditional money. We’re not talking about institutional lenders, how to get money very, very fast at super cheap, low interest rates. And I’m glad to send this book to you for free, just cover delivery. You can get the book for free at www dot Jay Conner, J a y C o n n er.com forward slash book. Again, you can get the book, we’ll ship it right out to you@wwwdotjcounterjayconner.com forward slash book. And we’ll get you plugged into the funding for your deals right away. What, as I mentioned, I’ve got an amazing guest and a very, very close personal friend of mine on the show with me today, a little bit about him before I bring him on he and his affiliated companies, they focus in this area on the acquisition, the development and the syndicating of self storage facilities nationwide.

Now, my guests currently owns any operates over check this out 2 million, 200,000, my land’s square feet and over 13,000 units that is gotten nationwide. Well, not only does he do the business, but he also teaches and coaches other real estate investors that want to learn about self storage and how that works. His education company is self storage, investing.com, and it provides courses and tools and live events, coaching, and mentoring to help others launch like you self storage businesses to enjoy the lifestyle. And, you know, as my guest, a good friend is known to say many, many times, get in this business and you’ll be free from tenants free from toilets free from trash. Well, you know, one thing that he and I talk about, and he and I are in a high end mastermind group together, his various companies are also very mission focused. He’s got a heart of gold, he’s got a servant’s heart and he is so far to date. He’s funded the construction of 12 houses, and I’m very, very familiar with this project. 12 houses down in Mexico and the Dominican Republic by taking his staff, his partners, his friends, his business associates on their all expense paid mission trip to do houses for these people. Wow. What a service heart, where that my good friend, Scott Myers, welcome to the podcast.

Scott Meyer:

Hey Jay, it is a good to see you again, my friend, how are you?

Jay Conner:

I am doing fantastic. I know we’ve got a mastermind meeting coming up pretty soon out there in Scottsdale. Are you going to make that one or you don’t know?

Scott Meyer:

I am looking forward to it and I will attend to any, and all of those that will be held in Arizona because now I have a two kiddos that are going to grand canyon university in Phoenix. And so we’re going to be spending a lot of time out in Arizona.

Jay Conner:

Oh, that’s great. Well, Carol joy and I we’ve already got our plane tickets. We’ve got our hotel reservations. So I look forward to seeing you in Scottsdale in just a few short weeks, right around the corner.

Scott Meyer:

Likewise can’t wait. Absolutely.

Jay Conner:

Well, Scott, as I told everybody in the introduction, I mean your expertise, your wheelhouses self storage and self storage facilities, but before we get into that world and your arena, first of all, just tell everybody how you got into real estate.

Scott Meyer:

Yeah. Wow. I think probably like most people out there started with the single family house and I learned from, and many folks on here will this name and a whole lot won’t Carleton sheets, who was one of the grandfathers along with Ron Legrand and some of the others that taught people how to get into real estate. So I followed this program to buy houses, rehab them refund, and some rent them out and then replicate and do that over and over again. So the burn method before it was called the bird method. And so that’s how we got started bought a single family house. This was back in 1993 was the first one that I ever bought. It had an assumable VA mortgage on it, which I don’t think there’s any of those left out there any longer and allowed me to get in and just assume that mortgage with very little experience in the way of even credit history at the time, it was a pretty young guy at the time, as you can tell by my age now and doing the math.

So that’s how it started. And then we moved on to buying up more. We refinanced about two more houses than we need to fix them up refinance and buy more. So we had about 75 in 76 houses and didn’t really have the cashflow and the, the, you know, the freedom that we wanted that Carlton sheets had mentioned in the home study system. So we thought, well, economies of scale will fix this. So we started getting into apartments and buying several complexes around central Indiana, but same thing and just kind of bought us more tenants, toilets, trash headaches, and the business model just wasn’t right for us. We wanted to have time. We wanted the freedom that real estate brings. And so to do that in real estate, that means no tenants, no toilets. So that’s either parking lots or self storage, and you can’t really build a lot of value in, in parking lots.

And then we found, but once I dug into self storage, I realized that, ah, this is, this is a place I need to be. People don’t pay rent. You lock them out and you sell their stuff off and get paid. You turn it around by taking a blower and you blow the unit out with no paint, no carpet, no extensive clean-out or repairs. And once I more, the more I looked into the business, I really saw the light and decided that this is the path I wanted to take. So sold their houses, our apartments, and now we’ve gone just, you know, 100% into self storage made that transition about 2005 to where we are now, today, which is where you mentioned Jay, we, we buy existing facilities. Still. That same model is in place. We also convert industrial buildings, grocery stores, anything that is, can be repurposed into so storage, we’ll buy it and convert it. And then we build from the ground up and we do a lot of this on by partnering and doing joint ventures and then syndicating the private equity, which is where you come in, Jay and you know, all too well, what that looks like and how we can leverage other people’s money and bring them along as limited partners to enjoy in the growth in this incredible business. So I hope that wasn’t longer than what you were looking for, but that’s, that’s my story.

Jay Conner:

No, that was perfect. Well, tell us the story about your very first self storage facility that you got into and, and what lessons did you learn from that first deal?

Scott Meyer:

Yeah, so the F the very first facility that I got into was a, that we were sending out mailers to facility owners, just like we all do in real estate to the asset class that we’re in. And we ran across some business owners and they were getting a business, a divorce. They were partners in a concrete business and things weren’t going so well. And they wanted, they were parting ways. And this facility, they owned together as well. Well, they, as what happens, unfortunately in the worst is the other one, one side wants to hurt the other. And the other one definitely wants to destroy the other one. And so that’s what they were doing. And they were destroying the value of the facility in the meantime. And so what that meant is we were able to get into this a facility for it, was it appraised for $800,000 more than what the selling price was?

And they just had to get out from under the note, because those two had done such a good job of fighting each other, that the bank was about ready to take the facility back. So I partnered, I partnered up with a gentleman. We came in at 50, 50 cash and both on the balance sheet and excuse me, on the loan request and ended up moving forward on this first property, by taking the existing tenants and raising the rates, which they hadn’t been raised in 10 years, we let them manage, well, let me see. We didn’t let her, we freed up her future to pursue other career opportunities and put a kiosk in place because we don’t have to manage these facilities with a person on site. And then we bought the land next door and expanded and built that up and leased that up as well.

So I sold off to my partner eventually. And that leads to, I guess, the second part of your question, Jay, which is what did I learn from this? Well, first of all, I, I understood the power of leveraging and bringing partners in to projects. But I also, the lesson I learned is that I, I really want to be in that manager position. I wanted to have that control rather than 50 50, and it’s not a control issue. It’s just that, you know, once I learned about syndication and moving on to other projects, that I can be the syndicator, the promoter, and the person who is calling the shots, and I can bring in limited partners for sometimes their balance sheets to sign on the loan as well. But mostly for the equity that is, that is required to get into a facility. So that was probably the biggest lesson. And I also learned, sometimes you shouldn’t bring people that are close to you or friends into a business as well. Sometimes it doesn’t always turn out well. Yeah. Yes.

Jay Conner:

I’ve been, I’ve been down that road myself as well. So to make sure everybody understands what you’re talking about, what do you mean by syndication? What’s that look like? And what’s the benefits of it.

Scott Meyer:

Yeah. So in the true sec definition, and I am paraphrasing, anytime you bring two or more people together into a project, and in this instance, a real estate investment where one person is, is active, doing all the heavy lifting, doing all the work, and the other person is bringing money and they’re passive. They don’t have a hand in making decisions or doing any of the project management in a project. Then, then you’ve created a security and then it’s governed by the securities and exchange commission. And so they state that you have to file that, and you have to register with the, depending on the fund or the entity that you set up that has to be registered. So for us, that is a true, so for us, there was one person, as I just mentioned me that I am the promoter. I am the active person on the investment.

Whereas I bring in then a lot of private equity, a lot of limited partners that come into the project. They don’t lend a hand. They’re not involved in the decision making process. And what they’re lending is money into the project. They’re investing into the project with me. And so their role and responsibility is to wire, the funds to close the project. And my responsibility is to do everything else, report back to them, the progress show, the projections and how we are exceeding, hopefully meeting, or if we are underperforming on our projections and then send out to our K ones at the end of the year, because they do become owners of this entity. And they get to participate in the upside as well as in the depreciation as well. So that’s, and I guess a limited sense without getting too far in the weeds, Jay, is, is the definition of a syndication and how we go about approaching the market. Yeah.

Jay Conner:

So, you know, in the world of single family houses, there’s multiple exit strategies. There’s multiple strategies of what someone’s going to do with that property after they invest in it, you know, you can, you can buy a single family house, you can fix it up, you can flip it, you can wholesale houses and, you know, wholesale houses out through other real estate investors. You can buy houses and you can fix them up and you can hold them, you know, for the longterm. So compare self storage to what I just did with single family houses. Are there all these different strategies as to how you can go about the self storage business. And second part of that question is if there are different strategies, how do you decide which one you’re going to do?

Scott Meyer:

Yeah, I’d say property is property. And, you know, in a general sense, and you can do all of the above. You know, we buy them and wholesale them, or sometimes a wholesale without us ever taking ownership or taking deed to the property. You can buy them, you can fix them up, turn around and flip them. You can buy them and turn them around partially, and then sell them off and call it a flip or non you sell them to the next person down the road. That’s going to take it the rest of the way, the way that we do it is typically we’re a longer-term hold three to five years. That gives us time to in an existing facility, really turn it around, raise rates, make the improvements, and reduce the expenses as much as possible to maximize the net operating income and then sell it for maximum dollar, our conversions and development.

You know, those projects take roughly four to five years to either buy a building, say a vacant grocery store and convert it to self storage, and then start from ground zero. And at least it up to 80, 85% occupancy and bring in our limited partners and allow them to have a payday and an exit that is comparable to if they were to invest in any other type of entity, a business over that time, and really focusing on the internal rate of return and the same goes for development. So in terms of an exit strategy, it’s a little more difficult in, in the way that we head into those larger projects with our partners in that we can’t do a 10 31, unless everybody decides to go along with us into the next project, which obviously they’re not going to. So at that point we will sell and that we will take our profits off the table.

And then we will move into the next project for our limited partners. For the most part, they are investing through a retirement vehicle like a self-directed IRA or a solo or a real estate 401k. So they don’t really have those tax consequences at, at, at the exit. We also are looking at in terms of an exit strategy. And I guess to back up a step, you know, Jay, I think you, and hopefully everybody on this call recognizes that you, you should always look at the exit strategy or determine what your exit strategy is before you get into a project. It’s not a good plan to just don’t say, well, there’s a good deal. I’m just going to buy it and figure it out later. You can find yourself, maybe a do not, you know, don’t want her later on down the road, or you sit back and take a look at your empire and you realize what a mess.

I can’t even manage this because I never paid any attention to what I was doing. So every time we hit into a project, you know, we identify if it’s a good deal, are we going to keep it? You know, if we’re going to flip this thing in a year, then we’ve got some, you know, capital short-term capital gains taxes. That’s a consideration. If we own it solely, then we can do a 10 31 into something else on. Do we want to do that three years from now? And I’m saying at any point in time, do we want to do that two or three years from now? Where, what are the interest rates going to be and what our cap rates going to be, and how do we expect the market and the economy? What’s it gonna look like? So we’re, we’re always looking six months a year down the road, five years down the road and anticipating what’s going on with the market, meaning interest rates and our capitalization rates, which is how we value these facilities.

And then overall, does this really fit in our business plan? I suffer like everybody from shiny object itis, and I want to buy them all, you know, if somebody else buys a self-storage facility and develop those one, and I’m going down the road, I was just like, that should have been mine. I should have built that. I should have bought that. And it’s a, it’s a real struggle. But if we get into that, you know, we can paint ourselves into a corner if we get into that situation where we just, you know, every once in a while we have to say no. Yeah, for sure.

Jay Conner:

So just to make sure everybody knows before, anybody’s got to jump off a listing here to the podcast. How can people get in contact with you and your companies, Scott, to learn more about what you do and how you can help them in this area of self storage?

Scott Meyer:

Sure. So we go into self storage, investing.com. That is the mothership, and there’s a links to our other websites that focus on the passive investing side of the business. But self-storage investing.com is really the mothership. And, and this is where we’ve been at this longer than anybody in the business and teaching people the right way to go about investing in self storage. I’m just in hopes that once again, you know, a rising tide raises all ships and so that we want everybody to be as educated as possible to go out into the marketplace before they do this to avoid any mistakes. And then also, you know, that just kind of makes it more difficult for the rest of us, that there are a lot of gunslingers out there that aren’t really doing their due diligence and doing things the right way. So that is our, our main purpose in educating people in the business. Cause it just makes it easier for all of us to conduct business in this incredible niche. Exactly.

Jay Conner:

So if you’re remotely interested folks and connecting them with Scott and his team, that website again is www dot self storage, investing.com, self storage, investing.com. We’re coming out here, hopefully on the other side of COVID and the pandemic and all that stuff. What are you seeing in the self storage industry? I mean, overall nationwide is the industry growing, how has COVID affected self storage?

Scott Meyer:

Yeah. Self storage is on a tear right now. I mean, if you look at the asset classes in real estate, no matter what stat you look at in terms of, you know, which asset class has done well, of course I’m biased, but the stats don’t lie, self storage and industrial are right up at the top. I think data centers may be up there as well. Industrial has done really well with Amazon expanding and, and the supporters of the Amazon and the distribution centers that are now coming down to the smaller market size. And, and as we see, unfortunately, the slow death of retail, the, the industrial side and the industrial sector has benefited greatly and self storage because we are heading into a time where we’re heading into a recession. Again, we also have seen now people come home from work and they had to clear out the dining room, the spare bedroom, the spare of family room, or living room and create a workspace for one of the income earners.

And sometimes too, they also last year during the lockdown, you know, when everybody was sent home from school, the colleges shut down and, and the kids had to put all their stuff into storage again, until they were able to go back. The kids that were in K through 12 came home, and we also had to make room in our homes to do school at home as well. So clearing out more furniture to make all of that happen. And then unfortunately there’s a whole lot of businesses that immediately when, when the lockdown started, it just went under because you know, customers are go figure on the lifeblood of their business. And if they couldn’t do it online, they went under. And so their inventory machinery and furniture, business furniture went into storage. And so, you know, we see this was somewhat of a microcosm of what we see during a recession and self storage really benefits during a recession because businesses downsize and put their things in storage, individuals downsized during a recession, they may have to move in with somebody else, a friend or move back home.

And so their extra stuff goes into storage. And so we, we, we spritz traditionally has always done better. You know, we go up to the right during times people buy more stuff and they store more stuff. That’s the nature of what we do here in this country. And if that’s you on behalf of the industry, I thank you for that mentality in this country. But during a recession, you know, we get the hockey stick effect. And then that’s when banks slow down development slows down of all sorts and then demand for self storage goes up. And so that’s what we saw during the pandemic last year. And 2020 was an absolute banner year for our industry. We have been, we have been contactless and touchless since before it was cool to be contactless and touchless using kiosks to rent a unit, much like a kiosk because self storage, you know, renting a unit is a very low labor intensive transaction that can be done over the internet.

And it can be done by way of a cell phone access to our facility, our software, getting a gate code and even a key fob and access on the phone to access a unit can all be done by way of a smartphone as well. So J we don’t, we don’t celebrate recessions personally, nor my company. We don’t celebrate pandemics for now shakes, but our, our industry, I’m, I’m thankful for the industry that we’re in because we have benefited with a huge wind in our sail, not only during a recession as we’re going to pet into again, but then the pandemic, which kind of accelerated that has really benefited our industry. Well, you know,

Jay Conner:

No business thrives, unless it’s solving a lot of people’s problems. And that’s what, and that’s what you and your company and the industry is doing. I mean, due to the pandemic, you got all this and increased demand for people needing to put their stuff somewhere. And unless your industry comes along and provides a place to put their stuff, then you know, you’re not a, you’re not solving that problem. So it’s what is, so let’s say someone is, and I’ll tell you, it’s the same thing as going on around here. It’s like here in my little area where Carol joy and I live total, total area of only 40,000 people, I know of four brand new self storage facilities that are under construction right now, four of them. And we already got them everywhere. It’s like my lands, people must have a whole, much more stuff. It’s just like, it’s crazy. It’s crazy. How are you? Are you doing new construction these days? Are you still focusing on existing facilities?

Scott Meyer:

Well, a little bit of both, we are, we were really focused on in 2020 on construction. We had some projects already in the pipeline and then also picked up some others from some folks that while we’re just kind of taking the ball the rest the way down the field, some folks that had some stalls due to due to COVID and some funding issues. And so absolutely we’ve been known developing for a number of years. Now, we’ve got the team, we’ve got the experience. We’re in several markets where we know where the demand is, and we just know it’s a business model that we can replicate over and over again, that allows us to look at a market. And, and Jay, if I could, just the reason why we see so many opportunities and why you’re seeing the say, four facilities going up in your town is a lot of folks will think, well, wait, I see these things everywhere.

Isn’t the market saturated. And you know, how can we possibly, you know, have enough demand for this, but, you know, when we go into a market and we’re looking at it in a place that potentially maybe good for developing a self storage facility, there’s a lot of research that goes into that. First of all, our market is really five mile radius. That’s all the further people are going to travel to a self storage facility from their home is about five miles. And so within that five miles, if the facility is the 1, 2, 3, 4 facilities are full, have a waiting list. And the raising rates every three or four months, then we know what equilibrium is in a market. And it’s, you know, anywhere from five and a half to six and a half, you know, five and a half to six and a half square foot per person.

And anytime that we’re below that if there’s only three or four square foot per person, we know that there’s a lot of demand in that market. So that, and rental rates will dictate when we’re going to go in and build. So it’s not a build it and they will come or hope that they will come and just, you know, hope is not a strategy. And we spend millions of dollars on these facilities. And so that is the reason why we’re seeing a lot about construction. And so we absolutely are bullish because of all the factors that I just mentioned that are, that are occurring in the market right now, which is creating a huge surge in demand for storage.

Jay Conner:

If someone is brand new to self storage, and they’re really interested in exploring it and, you know, really want to see if this makes sense for them, what’s the best way for a brand new person to even get started? Where do they start looking?

Scott Meyer:

Well, I think it starts with, with learning so that they know what they are looking for. And so no shameless plug, but we just got a lot of free resources on our website. Again, just to help people, you don’t have to spend a dime on it, just so you know, what you’re looking at and looking for, then begin to seek out if you’re a part of a real estate investor group in your city and there’s people that are in stores and then strike up a conversation. I I’d asked you to ask them to go out to lunch, to pick their brain, but we know that there’s a whole lot of folks that maybe aren’t interested in doing that these days, but if you can strike up a friendship, get into a conversation or even a subgroup, and some of these other real estate investor circles, or online with several meetups around at your area, then that’s the best way to get plugged in and just sit back and be a consumer of the information and to be a student of the industry to know what’s going on.

There’s I was in single family homes for a number of years. I was in commercial real estate being multifamily. And although a lot of that skillset applies and I’m looking at leverage and cap rates and underwriting, it’s a different business. And so to understand the nuances is really key before you take a take that next and first step, and we’ve seen, as you can imagine in our, on the education side of our business, we’ve seen a lot of folks that have taken that first step and they, and they stepped in a lot of do-do and create a lot of mistakes and messes for themselves. And men have come to us to help them unwind it and get out of it or to survive that one, you know, lose the battle, but win the war by understanding what it takes to succeed on the next one.

So, and then temper that with, you know, don’t, don’t analyze too much or, you know, analysis paralysis by analysis and analysis that causes paralysis. You, you, you know, the saying that to spend too much time researching before you do actually pull the trigger. So learn about the business, get some good advisors and mentors around you before, you know, to put some eyeballs on your underwriting and your offers, and obviously the good legal team or, or a, an attorney to look at your contracts before moving forward. Those are probably the best ways to Intuit, to avoid getting into a catastrophe. My

Jay Conner:

Good friend and guest today is Scott Myers, founder of self storage, investing.com. Be sure and check out his website for the free training and resources that he has there. One last question for you, Scott. And that is what are the most common mistakes or some of the most common mistakes that new real estate investors in self storage makes.

Scott Meyer:

Yeah, I’m writing a book on it as we speak, that’s going to be out before long. So I got 101 of them because that’s the title of the book. So I’ll, I’ll focus on how about the overarching one. And that is I think, and perhaps I’m guilty of this, you know, we’ve been teaching and training people how to do this for 16 years. And, you know, we, we, we state that it is a very simple and predictable business model because it’s compared to other businesses. It is, it’s a simpler and predictable business model. You know, we know the numbers, we know the equilibriums and we can go into a, an existing facility or a development project and make our projections and darn near hit our marks and, and beat them almost every time. But so I, I say that I’m, I’m a product of that.

And that is, I think people have heard that enough. And they’ve heard that, you know, this is a simple, less moving parts. You know, you don’t have the rehabs, you know, lock them out. They don’t pay their money and then you just blow it out and you’re done. You move on to the next and all that’s true, but it’s not a hobby. I mean, this is a business and you have to treat it as such and you have to walk the four corners of your business, and you have to understand it before you get in you. As most people know that are in commercial real estate, you make a $10,000 mistake in your underwriting, meaning you miss some expenses by 5,000 and you missed them. You know, they overstated the income for late fees and other things that shouldn’t have been counted. Well, a $10,000 mistake and underwriting is a hundred to $120,000 in value that you would over pay for a facility.

So you need to understand the nuances, how to value them, how to underwrite them before putting offers, in understanding how to analyze the market. And then for gosh sakes, I’m you don’t take your hands off the wheel and assume that this is a mailbox business because no rental businesses, I don’t care who you said listen to, or, or who says it. It’s not, it’s a business and a business needs to be tended. So a long-winded answer to your question, Jay. But the mistake that people make is that they think, and they hear and assume that it is a simple business because it’s simpler than what they were doing before, but it, it means that they have to understand it and they have to tend it. And, and you do have to farm the business once you own it. And constantly be working, looking at ways to grow occupancy, to grow rates and reduce expenses. And that is perpetual, and that is on a regular basis.

Jay Conner:

In other words, folks, don’t start doing this business without joining hips with somebody that knows what they’re doing, right. And of course, Scott Myers is the expert in this arena. Scott final comments and advice.

Scott Meyer:

Final comments change is good to see again, my friend, I can’t wait to, to see each other. I can’t hold that back. And so you always make me smile and I’m looking forward to hopefully getting together and having dinner together as well with you and Carol joy. And maybe we can get that old gray hair gentlemen, to pay our bill next time again, too, that might be nice and fight from that gang. It’s an exciting time to be in a, in real estate. There’s certainly a lot of changes and there’s some potential threats that are out there, but it’s when everybody’s running out that you should be not just running in again and shooting from the hip, but understanding, you know, what it means to be in the real estate asset class and investing the way and where you should be investing. But now it’s absolutely an exciting time to be doing so. So with that, just great to be here. I’m thankful for the industry of the real estate industry and self storage and a happy to help and assist anyone anywhere along the way that we can. And just be kind, just, just choose to be kind how’s that after a long weekend, so far, and it’s only Tuesday, I’ve had some difficult conversations. So how about I leave it with, let’s just choose to be kind to one another.

Jay Conner:

I love it. There you have it. Folks. My good friend and expert in self storage, Scott Meyers, visit him at www dot self storage, investing.com. Well, so glad to have everyone here on the show. I’m Jay Conner, the private money authority wishing you all the best here’s to taking your business to the next level. And we’ll see you right here on the next private money academy podcast.