All Forum Posts by: Andrew Daus

Thank you @Bryan Noth!

Hi @Lisa Shows, glad to meet another AZ newbie! Looking forward to beginning this journey myself and I hope you are too. Thanks for commenting!

Thanks for the answers @Nick D.! That all makes sense. And yeah that makes sense to get it rented before refinanced, as that's the natural progression of BRRRR. I actually will be getting into house hacking once my new house that I moved into is ready for the roommate. I moved in with very little furniture, so it's been an adventure buying a suitable couch, dining table, etc.

I have 3 bedrooms, so I could technically have 2 roommates, but the way I see it, there's one pro to two roommates over 1: more money. But there are several cons of two roommates over 1: less pantry space, less fridge space, someone can't park in the garage, less space overall in the house per person, and the bedrooms are not all that big (so not a lot of private space for the roommates). So I'm going to rent both bedrooms out for a slight premium over the comps for renting a single room out. By making my rooms attractive like that, I'll hopefully increase the tenant pool and find the best tenant/roommate. The bedroom will be furnished with my old bed, clean mattress, nightstand, and a chest of drawers. And the other "study/relax room" will be furnished with a desk, loveseat couch, and a 52 inch TV. I live 5 minutes from ASU Polytechnic, so renting the rooms out month to month from a student might work well.

Sorry for the soapbox haha!

Best of luck with your financial goals, and I look forward to following your real estate journey!

Andrew

Great job @Nick D.! So did you buy with all cash, or with the 20% conventional loan? And have you done a cash out refinance yet?

If you bought with all cash, I guess you did your cash out refinance with a 20% conventional loan?

If you bought with a 20% conventional loan, I guess the home was in livable condition (since it was my understanding that purchasing a BRRRR (fixer upper/distressed) isn't really possible with conventional loan) and you BRRRR'd it by turning from a 3bd/1ba to a 3bd/2ba and adding value in other ways?

And how much is it renting for?

Sorry for all the questions! Newbie here looking to learn more about the Gilbert market.

@Dmitriy Fomichenko Thank you! And thanks for the tagging tip! I figured with the "@"  was the way to tag someone so they get notified, but I wasn't sure.

@Shiloh Lundahl Thanks! Yep, that's why I'm here! I am definitely looking for meetups and to learn more about the local REIA's, so I'll be sure to check your meetup out.

@Amit Kochhar That sounds good, thanks! Looking forward to seeing big things out of you too!

@Geoff Husa Thank you! I actually lived in north Tempe (McClintock and Apache) for about two years before moving out to Gilbert to buy my first home. I liked living 5 minutes from ASU's campus as that meant good bars and restaurants were nearby. Looking forward to learning together too!

@Marlen Weber Thank you! Hope you have already crushed some real estate goals and are creating new ones!

Hello BiggerPockets Community!

My name is Andrew Daus, and I'm new to real estate and currently living in Gilbert, Arizona. I don't currently have any background in real estate, but I've been listening to lots of episodes of the BiggerPockets Podcast and I'm eager to get started investing in real estate! Originally from Springfield, Missouri, but moved to Arizona for my Master's degree in hydrology, I am currently working as a hydrologist for a water resources engineering firm in Tempe.

My current goals in real estate are to start out by BRRRRing SFHs, work up to BRRRRs for small multifamily properties, and eventually get into larger multifamily investing. I'm currently looking in the Phoenix Metro area (Phoenix, Glendale, Scottsdale, Chandler, Gilbert, Mesa, Tempe, Queen Creek, etc.) as well as within a 2-hour or so drive from Gilbert (Tucson, Flagstaff, Florence, Prescott, etc.) So any thoughts you have on those markets would be much appreciated!

I actually found BiggerPockets after someone had mentioned that I should rent out the spare bedrooms in my house to help cover the mortgage. After Googling this for a bit, I came across house hacking, and research on house hacking brought me to BiggerPockets!

I've saved up approximately $35,000 to put towards real estate. My plan is to network on BiggerPockets with agents, conventional and hard money lenders, property managers, contractors, and other investors to try and form mutually beneficial relationships. I look forward to becoming more active in the forums, asking thoughtful questions and trying to answer the questions that I can.

Feel free to ask me questions and I look forward to your responses and becoming an involved member of BiggerPockets!