Starting out in Phoenix, AZ

[Casey Kendzior]

Hello everyone,

I’m looking for advice/critique for my current plan of getting my foot through the door. I figured if I made a thread I’d be able to run it by as many minds as I could and make corrections where it’s needed.

Goal: Obtain two properties in the next 12 months.

Situation: I am currently deployed (Army Reserve). I'm from the Twin Cities but will be looking to relocate to Mesa, AZ post deployment. I have 50k saved, 760 credit score, and the VA loan to my advantage. I will be attending school in Phoenix to obtain my BSN which will qualify me for 60% of the GI Bill ($1000 in monthly housing allowance in the area).

Home 1 - My brother and his girl currently live in Mesa and we plan on all moving in together so they can get into something bigger. With that said, I plan on house hacking a SFH using the VA Home Loan with them paying the mortgage/utilities as I use the GI Bill allowance to pay my share (with a good percentage leftover).

Home 2 - This is where I'm not entirely solid on what I should do. With the cash I have reserved (by this point it should be more than the 50K), should I be looking into another SFH? Multi? Does it matter as long as it's smart? Do I have enough to BRRRR? I know there's not one answer for this question.

If there’s anything I didn’t factor in, overlooked, or didn’t elaborate on, please let me know. I know there’s a wealth of knowledge on here, so I appreciate any and all replies!

- Casey K

[Stone Jin]

@Casey Kendzior Sounds like you are set on buying a large SFH with your brother, I would look for one with an casita or guest house that you can rent out. There are houses out there that offer this and the rent from the 1 bedroom ADU can bring in $500-$800 towards your mortgage.

House 2-10, but something that makes sense and gives you the returns you want. The Phoenix metro initial cashflow and CoC returns are pretty low so don't get discouraged in your search its just a nature of today's market in AZ