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All Forum Posts by: Andrew McGuire

Andrew McGuire has started 19 posts and replied 200 times.

Post: Working W2 Job for 16 Years Vs 4 Years RE Investing....The Aha Moment

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151
Quote from @Dona Cardenas:

Andrew, can the wife of a deceased veteran use these benefits?


HI Dona, not avoiding question but this does depend. Here is a link from VA.Gov that covers.

https://www.va.gov/housing-assistance/home-loans/surviving-spouse/

BP won't let me paste link so typed it out. 

Post: Working W2 Job for 16 Years Vs 4 Years RE Investing....The Aha Moment

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151

@Ryan David Dodd, I love that idea of house hacking 100% with VA loan and can absolutley do that with a 4U. The great thing is that with VA loans you can use 100% of the lease amount to wipe out your DTI of loan on the property, as opposed to conventional or FHA can use 75% I believe. You can also have multiple outstanding VA loans, its more of a math equation. Essentially take 25% of your first VA loan, then subtract that from 181K if you are in a conforming loan county which 98% of counties are. Whatever is left multiply by 4 and that is the amount you can finance on the next property using 100% VA loan. If you are buying a higher price point subtract from the price and multiply by 25% and that is what you would have to put down. Probably confusing, Im going to do a few videos to explain further.

Post: Best Places To Invest In Phoenix - Agree or Disagree

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151
Quote from @Bretton F Trapnell:
Quote from @Andrew McGuire:

Phoenix is the largest metropolitan area in Arizona and 5th largest city in the country with a population of 1.6M people. When you include the entire Phoenix Metropolitan area it triples that and is right at 5M people which makes it one of the top 10 most populous metros in the entire United States.

So when it comes to where you want to live in the Phoenix Metro It can be a daunting decision because there are many large suburbs and they are all very different and that is why in this video I thought it would be helpful to narrow it down to five. 

So when were coming up with these top suburbs were looking at some key factors. Those factors are population, median Home Price, average drive time to downtown Phoenix, public school ranking and last but certainly not least - what that suburb has for restaurants, nightlife and other entertainment

#5 on our list is the City of Queen Creek. Queen Creek Arizona is a suburb located 39 Miles to the Southeast of Downtown Phoenix. With a population of 78K people your going to spend an average of 51 minutes getting into the heart of downtown Phoenix. With and average Price of right around $737K. As far as Schools go, Queen Creek is above average and was given a B+. As far as restaurants, dining and other activities. Queen Creek is thriving with new restaurants, shopping and parks. You can't go far without finding something new and trendy and exciting to do in Queen Creek. With all that it has going for it Queen Creek would have been on the top of this list but that 39 mile drive into Phoenix Takes it down a few spots.

#4 on our list of suburbs here in Phoenix is the City of Tempe. Tempe sits just a few miles from the city of Phoenix being separated by Phoenix Sky Harbor Airport and is the gateway to the East Valley in Phoenix. Tempe has about 183K permanent residents, I say permanent because it is also home to Arizona State University. Which is one of the largest universities in all of the United states with a massive enrollment of 73K students as of 2023. The Average home price is 645k which is above average in the Phoenix Metro. As far as the public school system Tempe is above average and ranked as 14th best district in Arizona. Tempe has a ton going on as far as things to do year around from paddle boarding on Tempe Town Lake, To shopping and dining on Mill Ave and Tempe market place. Even some of the neighborhoods further from the cool downtown are being developed with some great breweries and other dining areas.

#3 on our list is the suburb of Scottsdale Arizona. Scottsdale is a City 13 Miles East of downtown Phoenix. Your going to spend an average of 23 minutes getting to the heart of downtown Phoenix. Scottsdale has a population of about 247K and the average home price is about 1.4M. It probably would have taken the top spot on this list but there are some affordability issues with Scottsdale. The public school ranking in Scottsdale is an A and 2nd highest rated in all of Arizona. Now when it comes to dining, nightlife and entertainment you are going to have a hard time finding a better place than Scottsdale Arizona. The city has several bustling districts such as Old Town Scottsdale and Kierland Commons and is the epicenter of Arizona's tourism season from the months of December to April.

The #2 suburb on our list today is Chandler Arizona. Chandler is a city 25 miles Southeast of Phoenix and on average is a 25 Mile drive. With a population of about 280K residents it is one of the largest suburbs in the Phoenix metro. Chandler has the top rated public school system in all of Arizona with and A Rating. This suburb southeast of Phoenix has a median house price of $630K. Chandler is most notable for a thriving tech job market and with that comes a ton of development. You'll have great shopping, dining and restaurant options all over town but especially in downtown And Chandler Fashion Square.

And the #1 suburb on this list today is Gilbert Arizona. Gilbert Arizona is a suburb located Southeast of downtown Phoenix by about 24 miles and the average drive into downtown takes about 35 minutes. With a population of 281K residents Gilbert is the 5th largest city in Arizona. The average home price in Gilbert is around 665K. Gilbert has some stellar public schools and is ranked #3 in Arizona with and A rating. Gilbert also has some major parks like Gilbert Regional Park. A new surf park coming and a slew of new developments on the horizon. From an entertainment and dining perspective Gilbert is hard to beat, there is a thriving downtown with tons of restaurants, nightlife and coffee shops. You also have some other booming dining and entertainment areas like SanTan Village and Agritopia. Overall Gilbert is a really cool part of the Phoenix Metro

Now how about some honorable mentions. Some that didn’t make the list today but are also great places to live here in Phoenix Are Peoria, Mesa, Glendale and Paradise Valley just to name a few. There are so many great places to live in the Phoenix area

So tell me what am I missing, what are your favorite suburbs in the Phoenix metro. You can tell me in the comments below.

Hey Andrew!

Great lists and really good info here.

I think so much of buying a home to live in is going to be based on personal tastes and opinions.Those wanting to live the busy city with public transport and close to amenities are not going to love queen creek and will likely want to be in Tempe by the lake or downtown Phoenix.

If they want historically lower cost homes but to be out away from the busy city life, Parts of Glendale are good options.

Bigger budget but want to be out away from the city still? Queen creek or San Tan are amazing communities.

If any of the following words describe your tastes: high class, flashy, bougie; look no further than Scottsdale, Biltmore, or Arcadia, but be prepared to hand over your wallet.

It’s hard to generally classify cities and much easier to see exactly what each individual is looking for to guide them and let them make the best decision on where to go.

 Completely agree and of course this is an opinion piece.  There are things like jobs, education new attractions, etc. but you can ask 10 people and all have a different answer. 

Post: Best Places To Invest In Phoenix - Agree or Disagree

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151
Quote from @Colleen F.:

@Andrew McGuire So for STR what has the most year round occupancy? Same order for the list? I have a personal residence only in the east valley so know the area but not the rental market. Although my neighbor was STR his house.


The strange thing is I've had great luck in places for occupancies no one would think of. My E Mesa, Casa Grande and Queen Creek listings perform the best. I have a friend in Glendale by ASU Campus and Hospital that do really well. My Gilbert STR has been terrible as of lately..

Post: Working W2 Job for 16 Years Vs 4 Years RE Investing....The Aha Moment

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151
Quote from @Ryan David Dodd:

Thank you for taking the time to post this story of hope.  I know it's not easy but it's got to be better than what I'm doing for $40/hr.  When my dad passed away, I sold his business and leased the property to the buyer of the business, which is thriving. It's mostly hands off income with no debt. I'm excited about the possibilities, and this adds hope that it's possible to grow. 

Ryan, from the looks of your profile pic you may have access to a powerful wealth builder if used the right way. The VA loan, I’m doing a YouTube video and blog on the topic right now. Reach out if I ever want to connect 

Post: Tempted to buy a rehabbed home on Zillow

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151

I don't know about STR's in Phoenix right now unless you are really willing to put in the extra time and money to make it rise to the top. I just can't make the numbers work right now on anything at 7% and Revenue Per Available Listing (RevPAL) taking such a huge hit this last year. That being said I still believe we have huge appreciation ahead of us in Phoenix and am buying for Principle Pay Down, Deprecation and Appreciation, just trying to break even on cashflow on my recent deals.

Post: SubTo Deal - Lien Question

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151

as a seller I always want a "performance Deed" which is literally a paragraph the title company drafts and says if Buyer goes into default by this many days. The performance Deed along with a decent down payment is usually enough to ensure your position as seller. 

Post: Area to Invest in Phoenix, Arizona

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151

Follow the good school districts. Ratings are public information. 

Post: Who is investing in their own physical health?

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151

Health is the ultimate wealth. 

Post: Best way to market a MTR/LTR rental...

Andrew McGuirePosted
  • Investor
  • Chandler, AZ
  • Posts 203
  • Votes 151
Quote from @JT Thomson:
Quote from @Andrew McGuire:
Quote from @JT Thomson:

We have moved out of our 3bdr 2 bath house and now I would like to rent it. We left all of the furniture so it is ready to go. Unfortunately, my HOA does not permit STR. Lease minimum is 6 months. It is a 3 year old house valued at about $550k. I think my mortgage on it is around $3000 with HOA dues.

I would love some feedback on the best way to market this. I am planning on putting it on Furnish Finder but would like recommendations on other platforms. 

Thanks in advance for the advice.

JT


 MlS is good option for mid term now as well, I just listed first one using seasonal rents and it booked right away. 


 Thanks Andrew, what is MIS??


Meant to put MLS, multiple listing service.