All Forum Posts by: Noah Corwick

Hey Paul. A main component of my team is helping investors find multifamily properties around the greater PHX area. Would love to chat more and understand your vision. 

I'll shoot you a DM. 

Hi Bryce. 

Not sure if it was mentioned here already, but another creative alternative is to purchase a SFH that has a casita. If your willing to do so, you can live in the casita and then rent out the main home and have your tenant pay the majority/all of the mortgage (depending on what type of deal you find obviously).

I mention this because there aren't as many multi family homes on the market in PHX as you'd think. 

Hi Jade. That's an awesome goal of renting out your current home and then purchasing a new one once you touch down in AZ or NC. 

Not sure on your timeframe, but AZ is currently a buyers market (like I'm sure a most states are) due to a rise in inventory and interesest rates. So it's a decent time to strike depending on your budget. 

Also depending on your timeframe, you can also live in the new home for a year then rent it out. Going that route will save you money (less down + better interest rate) & you can ease into your new RV living scenario. 

Hope this helps! 

Phoenix is becoming a prime city for this sort of project Khaled. Like others have mentioned, there are definitely areas that make more sense than others depending on if you want to focus on cashflow or appreciation (just like with any investment). For example, looking at the Scottsdale/Tempe border but on the Scottsdale zip code side might be a good fit for this. 

PHX is growing so rapidly, so knowing which direction that you'd like to focus on will definitely be key. 

Hi Carlos, 

Tucson is a fairly inexpensive place to start house hacking compared to a lot of the west coast. You can get more bang for your buck. Tucson's been growing steadily and predictable for years. As the success of PHX continues, Tucson will follow suit. 

The UofA (which I graduated from so Bear Down) will always ensure Tucson is on the map. Heck even culinarily the restaurants that are popping up are impressive (which I take as a great sign of the people and businesses that it's attracting). 

That's an awesome goal to have for 2025 Adam! Adding 1-2 doors this year would be awesome. 

Are you focusing on adding them in the general PHX area? 

Hi Jaimie,

Welcome to BP!

I'm sure you'll be out of here in the summer, but you'll love the winter. 

Always love connecting with like minded RE folks. 

Cheers to a successful 2025!

I agree that I am bullish on this taking the PHX market to the next level. People have already moving to the Surprise/303 area in recent years. Once the TSMC is really up and running, it will only amplify that. Not to mention the general PHX market has become expensive and people have already been looking for cost efficient alternatives in the northwest and southeast corners of the valley. 

I've already been hearing about all the communities and mini cities that they are planning on opening around it as well. Definitely big things are on the way.  

It will be exciting to see! 

The tricky part will be to get the the city to change your property's zoning to multi family (if it isn't already). This can be a very long and annoying process and you're not guaranteed to get approved. Always safest to buy land that is already zoned for it. 

With that in mind, you'd also have to make sure the land you'd buy has water and electric running to it already. Buying land without this and adding the infrastructure to do it yourself will be really expensive. 

Then you'll have to figure out how you fund the project (land purchase + build costs). A lot of Hard Money lenders don't like to fund on land. So you'll have to figure that logistic out. 

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going.

I would definitely talk to a contractor to understand what your build costs would look like. 

Properties are sitting on market for a bit longer now that supply is slowly creeping back up. 50 days isn't too terrible compared to the greater PHX area. 

Homes are averaging around 60-70 days anyways. 

So without knowing the listing history, I would say to try to ride it out a month or two more. But also talk to your agent and get their take on this scenario obviously as well.