New(ish) investor in Phoenix, AZ

[Nicholas W.]

Hi all - I'm a new(ish) investor in Phoenix, AZ. 

My past real estate experience is limited to leasing my single family home after I moved out (I used a property manager).

I recently sold that property and am now under contract to buy a triplex in Mesa. I will again be using a management company. I am using conventional financing and plan on holding the property long-term. I also own a cabin up in the mountains north of Phoenix and am considering doing short-term AirBNB rentals with it.

My goals are to build up a small portfolio of multi-family units in the Phoenix area to supplement my income. I would like to have one to three more units within the next five years. So long as I have a good management company I do not plan on managing the properties myself. 

Outside of real estate, I am an attorney who has been practicing law in Nevada and Arizona for the last 8 years. My practice has primarily consisted of business tax law. However, I recently made a change and am now working in a legal office for a Native American Tribal government.

My real estate addiction started shortly after purchasing my first home in 2010. Ever since then my spare time and iPhone's battery has been devoted almost entirely to Redfin. 

I joined BP for networking (virtual and in-person), and to learn from others in the field.

[Barry H.]

Welcome Nicholas. I lived in Mesa about 12 years and now 3 in Scottsdale. Before retiring 3 years ago, I was in the legal field as well, in litigation management. I have been a REI for about 13 years, all in the AZ market until the past couple years. Real estate allowed me to retire and now I am a Hard Money / Private Lender. Your goals look reasonable and attainable. As long as you don't try to increase your lifestyle/consumption to match what you start accruing (cashflow and assets) in real estate, you should be retired quickly. :-)