Starting in Phoenix Area - Goal: Property rentals/flips

[Jessica Downs]

Hello All,

My name is Jess. I grew up with a parent that created a passive income with residential rental properties so it was only a matter of time that I jumped in myself! 

I have been wanting to get started on my own real estate investments for a while now. I currently own my home that I will eventually turn into a rental and hopefully use the equity to start purchasing duplex/triplex/fourplex properties in Maricopa County.

• 
  2-year goal - Own a triplex/fourplex with all but one unit occupied and house hack. Complete 1 house flip. Rent out current home.
• 5-year goal - Rent out all units/homes owned. Complete 3 house flips. Create 5K monthly passive income. 
• 10-year goal - Complete 4 house flips a year. Create 15K monthly passive income.
  

I am currently working full-time in marketing but would love to eventually be able to quit to focus on more real estate opportunities in Arizona and other states down the road. I have already learned so much on here and can't wait to get started and put it all into action!

[Travis Heppe]

Cap rates in Phoenix are uncomfortably low in my opinion, especially on 4-plexes.  I was competing on a few listings, but kept getting outbid.  I analyzed about 100 and made offers on 3. My bids were so low I didn't even get responses. I just went into contract on a multifamily lot in Apache Junction and will attempt build-to-rent.

Find problems that everyone else is avoiding, and solve them.