All Forum Posts by: James Leos

Welcome Justin, fellow ASU alum and I have an investment property in near campus, this site is filled with tons of resources. Best of luck with your investing.

Hi Shawn, sundevil alum here. If you’re looking for a rental read up on BP about cashflow and buy and hold strategies.
I have a property in Tempe and it’s a great rental area in terms of it being very easy to get people in and properties won’t stay vacant for long. However, and I’m not trying to be discouraging, there aren’t many properties you can get in Tempe right now that will cashflow, especially single family. I’m looking to pick up a second property and have been researching the phx metro the past month. I’ll give you an example of what I’ve seen, you can get a duplex in Tempe for 175k that rents for 1500/mo, or you can get a 4plex in phx or mesa for 175k that rents for 2000-2400/mo. So if you’re looking for a rental, be careful limiting yourself to Tempe, you’ll also probably want to look at small multifamily properties instead of single family homes for cashflow in this market.
Good on you for getting started early and giving yourself time to learn. Best of luck.

A couple days late on this, but I have a fourplex (all 2bed/1.5bath) that's low maintenance with little turnover and my actual expenses (excluding captial improvements) are around 45%, I pay for water/sewer/trash and property management.

One thing to note, my average rents are about 700, if they were 550 the expenses would be 55% of gross rents. Few expenses are directly proportional to the gross rent, the lower the rent, the higher the expense ratio.

I only have one property to compare, but the 50% rule seems to be a good rule of thumb.

Mark, congrats! sounds like a solid deal.

Congrats on your budding empire Anthony. A (real) 12% cap sounds solid, how’s the neighborhood?

I’ve been searching for multis in Phoenix for a few weeks now, but as @Scott Swink said the numbers aren’t too attractive in decent neighborhoods. I have a 4plex in Tempe and would prefer to get one nearby, but the few listed there don’t make any sense.

If you don’t mind me asking, what kind of return are you get on your 4-plex near 51/101 and how’s that working out for you so far?

Hey guys, I'm in the same boat as @Mark Nugent, looking to get a couple multi-family properites in the phoenix area. I'd appreciate any recommendations on agents or other professionals you use.

cheers.

Thanks for the warm welcomes. Look forward to connecting.

cheers.

Hi Everyone,

Just signed up to BP yesterday, seems like a great community and a great place to network. I’m originally from Phoenix, but have been working overseas for the past few years. I’m currently in China on an LNG project.

I bought a fourplex in Tempe for a couple years, but still consider myself a newbie to real estate investing. I'd like to jump back in and get a couple more properties in the next year to try and expand that passive income stream. The fix/flip model doesn't suit me too well since I like my day job so I wouldn't consider doing real estate full time. I’m more interested in rentals.

I'm hoping to connect with similar investors or professionals out there and learn anything I can, would appreciate any recommendations for good forums or groups on BP for investors in the phoenix area. I’m hoping to get a little help to get a couple single or multi-family homes in the phx area that have some promise of good returns.
cheers.