"Success in real estate comes down to two factors: taking action and knowing what you’re doing."

 Cass is more than a broker — he’s a strategist. With over 1,000 transactions completed and the CCIM designation (earned by less than 6% of brokers nationwide), he combines legal training (J.D.) with top-tier investment expertise to negotiate and analyze deals at the highest level. 

 The best market depends on your goals. If you want steady cash flow, look for areas with strong rental demand and stable job growth. If you’re chasing appreciation, focus on markets with rapid population growth, new development, and rising property values. In Arizona, markets like Phoenix, Mesa, and Glendale continue to attract investors for both reasons. 

 Cass focuses on multifamily investments across Arizona, especially Phoenix, Mesa, Tempe, Chandler, Scottsdale, Glendale, Paradise Valley, and Gilbert. He also works in Pinal, Pima, and Yavapai counties. 

       Cash flow = (Rental Income – Operating Expenses – Mortgage Payment).
This includes taxes, insurance, maintenance, management fees, and reserves. Positive cash flow means the property pays for itself and still puts money in your pocket each month. 

 Cap rate (Capitalization Rate) is the property’s Net Operating Income (NOI) ÷ Purchase Price. It shows your expected annual return if you bought the property in cash. A “good” cap rate depends on the market— in Phoenix, 5–6% is common for multifamily, while riskier markets may offer higher cap rates. 

 Typically, lenders require 20–25% down for investment properties, plus closing costs and reserves. For example, a $400,000 property might need $80,000–$100,000 upfront. Some investors also use partnerships, private money, or creative financing to lower entry costs. 

• Single-family homes are often easier to manage and sell, but income depends on one tenant.
   
• Multifamily properties (duplexes, triplexes, apartments) spread risk across multiple tenants and often provide stronger cash flow.
  It comes down to your budget, risk tolerance, and long-term strategy.

 Options include conventional loans, commercial loans, portfolio lenders, private money, and even seller financing. The right choice depends on property type, size, and your financial profile. Many investors start with conventional loans, then transition to commercial financing for larger multifamily assets. 

• Cash flow = money you pocket each month after expenses.
   
• Appreciation = the increase in your property’s value over time.
  Both are important. Some investors prioritize steady cash flow, while others aim for long-term appreciation. A balanced portfolio often combines both.

 Cass leverages detailed financial analysis, value-add strategies, and aggressive marketing to attract serious buyers. With decades of negotiation expertise and an extensive investor network, he positions every property for a top-dollar sale. 

 The best deals rarely hit the open market. Network with brokers, build relationships with agents, and look for off-market opportunities. Investors also track pre-foreclosures, probate sales, and tired landlords. Working with an experienced broker like Cass Stephens can open doors to properties others never see. 

 Risks include unexpected repairs, vacancies, tenant issues, interest rate hikes, and market downturns. The best defense is thorough due diligence: property inspections, financial analysis, and conservative underwriting. 

The right time depends on your goals. You may sell when:

• Market prices peak
   
• You’ve maximized value through renovations
   
• Cash flow declines or expenses rise
   
• You want to exchange into a larger property using a 1031 exchange

 Start by analyzing three key factors: cash flow, cap rate, and market fundamentals. Run the numbers to ensure income outweighs expenses, evaluate property condition, and consider location growth trends. A property that meets your financial goals and fits your strategy is typically a strong candidate. 

• ROI (Return on Investment): Overall profit compared to your total investment.
   
• IRR (Internal Rate of Return): The rate of return accounting for time value of money, often used for long-term projects.
   
• Cash-on-Cash Return: Annual cash flow compared to the cash you invested out of pocket.
  Each metric offers a different lens for evaluating performance.

 Taxes can significantly impact your returns. The good news? Real estate offers depreciation, expense write-offs, and potential 1031 exchanges to defer capital gains. It’s best to work with a tax advisor who specializes in real estate to maximize deductions and protect profits. 

 Self-management can save money, but it requires time and tenant-handling skills. Property managers typically charge 6–10% of rental income but handle leasing, maintenance, rent collection, and tenant issues. If you want passive income, a manager is often worth the cost. 

 A 1031 exchange allows you to sell one investment property and reinvest the proceeds into another “like-kind” property without paying immediate capital gains taxes. It’s a powerful tool for growing your portfolio, but it comes with strict timelines and rules, so professional guidance is a must. 

 Higher interest rates increase borrowing costs, which can reduce cash flow and buying power. On the flip side, higher rates often cool down the market, creating opportunities to buy at better prices. Smart investors adjust their strategy to current lending conditions. 

• Class A: Newer, high-end properties in prime locations. Lower risk, lower returns.
   
• Class B: Mid-range properties, often with value-add opportunities. Moderate risk and returns.
   
• Class C: Older properties in less desirable areas. Higher risk but potential for strong cash flow.
  Your risk tolerance and strategy will determine which class is right for you.

 Strong tenant screening, fair lease terms, and proactive property management are key. To reduce vacancies, invest in desirable areas with consistent rental demand and maintain your property well to attract quality tenants. 

• Flips: Quick profits but higher risk, more capital, and market sensitivity.
   
• Buy-and-hold: Consistent cash flow, tax benefits, and long-term appreciation.
  Many investors combine both strategies depending on market cycles and personal goals.

 Common mistakes include overpaying, underestimating expenses, skipping due diligence, and ignoring location fundamentals. Avoid these pitfalls by running conservative numbers, inspecting thoroughly, and working with an experienced broker like Cass Stephens who knows the market. 

 Results. Cass has sold everything from 2-unit buildings to 100-unit complexes, often setting record prices for their zip codes. His reputation is built on transparency, hard work, and consistently delivering maximum value for clients.