All Forum Posts by: Julie Dunlap

Hi Sarah and welcome to the Phoenix area! I love the house hacking strategy out here; it's about the only thing that will actually cash flow! I start all my properties as a house hack and then move onto my next one and repeat in a BRRRR type manner. There are some duplex/triplexes in Phoenix but most aren't in the greatest neighborhoods. Single family can typically be a little safer with this method. My biggest recommendation is to find a realtor and lender who actually invest. In Phoenix it seems that everyone has their license! Get someone who actually knows what they're doing and has done it too. Ask them how many deals they've done and what strategy they use. Also, try to come to a few of the local meetups. Good luck :)

Phoenix REIA meets monthly pretty close to there, you may want to check them out. That being said, I'd love to see more meetups out here, especially with educational components to them.

I’d be happy to connect. I’m an investor that also has my license. Right now I have more deals than I can take on. 

I'm getting about $1000-1300 cash flow per property per month. All are STR so there is more maintenance but it's 100% worth it.

I’d second what Doug said and just put money aside for when things break. 

If you’re really set on getting a home warranty I recommend OneGuard to all of my clients. I’ve used just about every warranty company out there and these guys are the only ones that don’t make you jump through hoops to get items replaced. 

It’d depend on your financing. Are you using cash or a bank? If it’s a bank, what type of loan? Most banks have stipulations in the loan agreement that you’ve disclosed all of your financial obligations. I’d highly recommend that you ask your lender and/or realtor before signing anything. It’s simply not worth the risk. 

I will be bringing myself plus a second person. Thank you for hosting this meetup! 

Hey Sam! It’s in an incredibly desirable area, both for residential and Airbnb. It’s a new construction that’s never been lived in and I already have an inspection on it. I’m in Scottsdale, Arizona. 

Hey guys! I’ve been a long time lurker/listener but haven’t jumped into the game until now. I think I’ve found an interesting deal. This home has been on the market for 14 months with 3 brokerages (mine included). It’s a 5 bedroom, 5.5 bath, plus an office and loft. Every room has its own full bath and the master bedroom is gigantic. When we first listed the house I thought it’d make the perfect Airbnb. I personally househack my own place 2 blocks away and I make $75 per room per night in the winter/spring and $35 in the summer. Using these numbers I’m thinking that this new place could be a good opportunity too. It’s recently gone up for a private auction and the owner is telling everyone to bring their best offers. Comps in the area are anywhere between $700k-1.5m but this house has been chasing the market down because it was priced way too high at first. I know he’s only had 1 family even close to interested and they didn’t make anything formal. The only downsides to this that I’m really seeing are the resale value of the house (since it’s near a main road) and my own funding situation. I’m planning on building a small portfolio of homes over the next 10 years so I’m not incredibly concerned about reselling it rn. My own financial situation is stable but commissions based, and I have 2 years of Airbnb income proof that come out to about $15k per room per year. Right now I’m leaning on the idea of hard money to get my foot in the door and begging/borrowing for the rest from my grandma. I also should mention that both my grandma and I have active real estate licenses. Any thoughts or recommendations for a newbie?