All Forum Posts by: Joe W.

Logan, 

Thanks for the detailed reply. I really appreciate it and I'm going to take a look @ everything you've linked to and I'm sure I'll be reaching out to you in the not too distant future. 

One follow up question... What is your plan going forward in terms of acquiring additional properties?

Are you content to spend nearly a year attempting to locate your next property in the LA market or do you have a plan to accelerate that process? --- I would wonder if the temptation of the "Clevelands" of the world might still tempt you. 

I live in the Phoenix area and I've been looking for a 2-4 unit property here with the intentions of buying it through FHA and living in it for a year or two and then moving out.

I'm running in to a number of problems:

1) There are not many 2-4 unit properties in the Phoenix area relative to areas like the midwest and/or east coast and for the most part the multi-family homes here seem to be located in less than desirable areas. 

2) It seems to be very difficult to find one that will cash flow. I don't necessarily want to live in a mulit-family home but I would do so for a year or 2 if I can find something where the numbers work.

I'm sure if I look long enough I will find something that makes sense and if I do I will definitely jump on it but I'm also considering investing out of state in a market I am very familiar with and where I have a few trusted contacts. I believe I can find properties quicker there that will cash flow and the purchase price is about a 1/3rd on average of what I would pay in the Phoenix area. 

I know I'm far from the 1st person here to run in to this issue so I guess my question would be if you're in a market where you're having a hard time finding properties to buy and hold that cash flow did you ultimately invest out of state and how has it worked out for you?

I'm a seasoned mortgage underwriter living in Arizona. I plan on jumping in to the investing side of things in the next 3 to 6 months. 

My goal is to be able to live off of my real estate investments within 10 years. I'm currently working backwards trying to figure out how exactly I'm going to get to that point!

Thanks, Joe