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Updated over 8 years ago on . Most recent reply

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Aaron Tell
  • Phoenix, AZ
0
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Hi! New member in Phoenix, AZ

Aaron Tell
  • Phoenix, AZ
Posted

Hello Bigger Pockets community! My name is Aaron, and this is my first post in the BP forums. I found bigger pockets by buying an audio book through Audible. I have since listened to The Book on Investing in Real Estate, and The Book on Managing Rental Properties - both excellent books - and I have been reading many posts, listing to podcasts, and reading other real estate books. My wife and I are in the process of purchasing our first home. We used the Bigger Pockets calculators to analyze the deal. The home is in central Phoenix near GCU, and has a detached guest home for rental income. Our goal is to eventually refinance the property and rent out both the main house and guest house either longterm or maybe use a lease option to owner carry the home. We plan to then purchase a second property. I have many questions about various topics in real estate, investment and business and hope to post on the forum often and meet others in the BP community!

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117
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Brian Volland
  • Property Manager
  • Peoria, Az
50
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117
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Brian Volland
  • Property Manager
  • Peoria, Az
Replied

I will say that I've seen a number of stand alone homes with studios up to quads in the backyard in the Phoenix area. Clearly it is a strategy that works to some degree. Is the guest home separately metered for any utilities? Is there parking available next to the guest house? If no to either of these, have you thought about how you'll bill your tenants? Will you build a driveway?

Just some thoughts.

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