All Forum Posts by: Austin G.

@Mariel Painter-Chapman

Think #1 still still looks good. A bit off topic, but what software did you use to create these models? Thanks!

@Douglas Mcqueen

Yes, I agree. The Book, "Set For Life" by Scott Trench, provides a great plan to follow. You can get started by saving +$25k, finding deals in an ideal location close to work then house hacking. Lots of helpful tips from everyone else here too. Best of luck!

Greetings Tatiana,

As Ryan and Kyle have suggested it may be best to open up your options to also include larger SF + ADU properties to HH. I've seen a few duplexes pop up in the mid $200k range. But seems like most are in not so great areas. Best of luck!

-DAG

Greeting @Jhonathan Bituin:,

Fellow Engineer/Investor here that not to long ago moved from SoCal to Phoenix for work. Was inspired just like you from books and the BP community. Finally (hopefully) closing on my first BRRRR/HH deal in North West Phoenix next month after looking at +100's of potential properties. I had the same mindset as you looking for deals in the lower $200k range. They don't last long, especially if they are "move in ready".

Think finding a BRRRR deal helps as they have less competition. Planning to turn a 2bed/2bath into a 3bed to rent and live in the Back ADU Casita until my next deal. Definitely consider North and West Phoenix Metro. Even further South too you may find something. Best of luck!

@Brendan M Hornung

Thanks Brendan. I do miss SoCal at times. Just not the high cost of living. Sounds like you are familiar with the AZ market and areas around ASU.

The deal I found in North Phoenix, AZ will be a BRRRR/HH. It's an older 2bed/bath starter home that has an ADU "Casita". Plans are to rehab front house into a 3 bed to rent out and live in the back house until next deal. Backhouse is currently rented monthly.

Would consider this deal a base hit as it's not a true Multifamily. Most of the Multifamily are in not so great areas and seem overpriced or "cash only" deals. The North Phoenix location is nice as it's on a private street with new townhomes and builds going in nearby.

I can imagine choosing an out of state market can be tough. For me, house hacking just makes sense to get in the game. Wishing you the best of luck!

@Tina Tsysh

I second considering the Phoenix, AZ metro. Moved here from Orange County, CA almost two years ago and should be closing on my 1st property next month in the $200k range. It's a day trip away from you in SoCal.

@Aidan Fox

Greeting Aidan,

Remember the three most important rules of real estate: location, location, location. Where in AZ are you moving to? A lot of competition in the Phoenix Metro right now. It's a seller's market with low inventory.

I had the same plans to use an FHA loan, but went with a low conventional 5% down because most seller's don't want to deal with FHA/VA. I should be closing on my first BRRRR/HH in North Phoenix by April 2021. It's a starter House with an ADU back house "Casita" (studio unit). It took me +1 year of living in Phoenix to learn the preferred parts. North/East tends to be nice vs West not so much, but cheaper (also more traffic).

Best of luck. Lot of great Resources on BP whom helped me. Keep learning.

-DAG

@Angelo Franco

Presuming you're in LA/SoCal? Why not buy a HH in Riverside County? The +6hr commute from LA to PHX would not be sustainable. Just my thoughts. I ended up getting laid off working in Irvine, CA and haven't looked back.

@Katharine Wright

Lots of Class A properties in Scottsdale, AZ. Highly desirable. Think if you can afford the area then go for it if the numbers make sense.

Thanks everyone for the insightful update on the 2021 PHX metro market . I've been looking at properties every week since January 21. Think it's important for me and other first time investors to just get in the game. Looking at SFH + Backhouse/Casitas as Ryan S suggested.