I had the pleasure of speaking at the July 2013 meeting of the Phoenix Real Estate Club, part of one of the most active real estate investor associations in the country, the Arizona Real Estate Investor Association.
AZREIA Director Maureen Laupp told me the association’s membership dipped dramatically from about 3,000 at the height of the previous real estate boom to in the hundreds during the downturn. Now membership is climbing again, back over 1,000 as rising home prices and other factors draw more investors back into the fray.
I presented the slides below to the investors at the meeting, held in a unassuming meeting room with laminate flooring and folding metal chairs. Attendees munched on trail mix and sipped on water and lemonade as I talked, enjoying the cool of the air conditioning that provided relief from the 90-plus temperatures outside even past 7 p.m.
I also gained many insights from the investors themselves: how flipping might be getting harder as interest rates rise, how some of them are working with hedge funds to purchase as many single family properties as possible, and how finding money for deals remains a challenge for many.