All Forum Posts by: Aria Jackson

@Aria Jackson, we started with a 4-plex in Phoenix because our goals were to grow into larger multi-family property. A 4-plex gave us the opportunity to gain some experience (some good... some bad) and develop our systems for managing the property on a smaller scale. I'm writing a step by step process over in the "starting out" forum and later this week will be posting an analysis of a case study property on the things to look for, what the numbers say, etc.

https://www.biggerpockets.com/forums/12/topics/455...

You mention looking to buy something locally -- just curious why?

Thanks so much for the information and writing that article Nichole! I was thinking to start locally so that if there are problems I have the ability to see my property. After research, the other area I was thinking is Midwest. Can't wait to read your post!

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Originally posted by @Dalton Kiley:

It depends on your goals with REI - do you want all your rental units in one area (four-plex), or want to spread out within PHX/Scottsdale (individual)? There are other questions you'd have to ask yourself in terms of your REI goals. As these guys have pointed out, one of the biggest areas you'd need to know before buying any condominiums are the HOA's and it rules for renting, maintenance, etc. It sounds like this is your first time investing real estate?

Correct Dalton,

This will be my first time investing in real estate. I have looked at individual HOA fees, city HOA fees (Biltmore), etc. I'm trying to find a place that won't have much in terms of repairs, but I am still going to budget and plan for that as I know if can get expensive. It seems as if it would be nice to just own a 4-plex and be able to bypass the worry for HOA fees, etc. I'm just not sure of other's experiences in this market.

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Originally posted by @Dick Rosen:

Get a property manager first. Stay away from condos or any other property with an HOA!

I was a property manager for 2 years so I have experience in that, just not the investment end of things :)

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I'm starting some research on buying a 4-plex community in the Phoenix or Scottsdale area. Has anyone on this forum bought a similar property out here? Is it better to buy a 4-plex, or would just buying out individual units in a condo communities around the valley be a better investment? Like I said, I'm in the beginning stages of this train, I'm just curious as to other investor's experiences in this market. I know that if I go out of state to invest it's cheaper, but I'd like to start local if possible :) Thank you in advance for your input!

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All Forum Posts by: Aria Jackson

Aria Jackson has started 1 posts and replied 4 times.

Post: Should I invest in a 4-plex in Arizona?

Post: Should I invest in a 4-plex in Arizona?

Post: Should I invest in a 4-plex in Arizona?

Post: Should I invest in a 4-plex in Arizona?