All Forum Posts by: Andrew McGuire

@Russell Fleming

Its been mentioned but you can mitigate your risk by finding a fixer up property and house hacking it. If you can find a house with casita or small Mf even better, they are expensive right now but you have to pay rent somewhere, you have your friend rent 1 BR and rent out the other bedrooms. Its really hard to lose with that formula and has a lot of benefits. You will get owner occupied financing also mentioned, property management experience, most likely live very cheaply and force appreciation if you fix up the house in your spare time. You will also learn what it takes to fix up a house which will help you when working with contractors in the future. Go for it man, don't overthink it. Check out Scott Trenches book called Set For Life, I think. 

The Escape "The 9-5" Room will meet every 3rd Wednesday of the month to discuss strategies and tactics to produce cashflow in an expensive market. 

March 16th will have Real Estate CPA on hand to discuss one of the most powerful wealth builders in Real Estate. 

@Jeremy Bottlinger 

@Sarah Enero

Find a fixer house that has a guest house, live in one and rent out room by room or as STR as you mention. Fix up while you live in, I know San Diego is different and more expensive than Phoenix where I invest but that is a hard to lose strategy in this market. Go for it!

@Blake Wood

Come out to Phoenix, I think it is still cheap comparatively. Less and less every day though. Definitely not the same as San Diego but I've had to move to more hands on active management strategies like STR's, Furnished Finder, Co-Living and converting/adding units to find cashflow. Other option is to put a ton of capital down assuming you have equity in something else, will hurt your CoC return of course.

@Jordan Bruhn

I work with @Jeremy Bottlinger of Somerset CPA's & Advisors. Give him a shout. 

@Jennifer Bailey

Welcome to Phx, if you find anything good let me know lol! I picked off a couple of wholesales last year using a methodology I learned from Instagram star Thach Nguyen, it works if you are persistent/consistent with it. There are some others that are local to Phoenix that have really good stuff ex. Brent Daniels of TPP. I like his stuff as well, good luck. 

Welcome to Phoenix @matt 

@Matt Yates

No need to have analysis paralysis, there are many ways to mitigate your risk. Start looking at properties and crunching the #'s every day if you can, you will get the hang of quickly and feel more confident getting ready to take down that first one. Maybe do a SFH with Casita House hack or triplex to have someone pay for you cost of living while building wealth?

@Nick Coons

It is hard to find cashflow properties rented as traditional buy & hold in this market. My philosophy is evaluate as traditional and try to find something that is close to break even or small cashflow property and manage with the upside of AirBnb, Furnished Finder or Co Living. I utilize all these strategies and find properties every day that conservatively do 15% CoC return. Look for properties with no HOA, ample parking, good BR/Bath ratio, good areas, hospitals churches schools nearby, able to convert to multi unit or tri. You have to be creative but you can easily find cashflow. Worse case those other strategies dry up go back to traditional.

@Ron Hollingsworth

I would not wait trying to time the market, I remember thinking the same thing in 2018 and would never be able to get in if I had waited. Instead I would look for a cashflowing property that you can hold on to if the market ever turns. Run your numbers tight accounting for all expenses and being conservative on revenue. If you focus on this instead of buying like a stock (Buy low sell high)  you will be better off. 

@Daniel Hoop

Please meet @Jeremy Bottlinger of Somerset CPA & Advisors