All Forum Posts by: James Alex

@Ali Boone i live in chandler currently, with roommates they will cover a large portion of the mortgage and I will cover the rest, i was told once I have 20% equity in the property I can refinance to have the PMI removed so that was the plan.

@Bob Okenwa i am looking for home with rooms large enough from mee to rent our for at least $500 per month. i am thinking nothing less than 1,400spft.

ive been trying to grab something in tempe or scottsdale which is very hard, i also been looking in chandler.

i am thinking i will have to look in phoenix, gilber or mesa to find something.

Thank you everyone for the feedback, I did think of going with the multi family route, I live in phoenix the east part of the valley and with my budget of $290k so when it comes to the multi family anything I can afford is in a rougher area that at least 40 mins away. so at this stage in life I am looking for a single family. 

my sweet spot is between $250k-290k, however this price range is very competitive. 

@lien vuong I guess my main obstacle is trying to buy the a decent rental property with out over paying. anything I like thats in my price range already has several offers. 

I am 24 years old and I am interested in getting invested in rental properties, my plan is to use an FHA loan to buy a single family home. i will get roommates to help cover the mortgage and save up until I can buy the next property and so on. it's been kind of stressful trying to find a good spot, especially in this current market.

What's your opinion on this strategy? 

What advice would you give me?