All Forum Posts by: Noah Corwick

Hi Teena, 

I agree with Walter, and believe targeting North/Central PHX and the West valley is your safest bet. Plus the East valley is very heavy with HOA communities. I'm sure you can find decent pockets in Mesa or Tempe, but it won't be as easy as in the West valley.

As far as areas go, the safest answer is anywhere near a Mayo Clinic. So this would be North PHX, Central PHX, North Scottsdale, North Glendale and East Chandler. As far as the most economical area of these, North Glendale would likely be your winner. 

Hi Charles!

Your first step is to definitely talk to a lender. They will be to help map how much you qualify for and guide your plan the plan of attack from a financing standpoint. 

From there, you will understand your budget and can run your numbers more accurately. 

Hey Michael!

House hacking under $500k is definitely possible, but just depends on your long term goal. House hacking a multi family for that amount will be tough, but it's totally possible with a SFH or townhouse.

There are some awesome strategic areas that will cash flow with a house hack + are nice appreciation plays. I'll shoot you a DM. 

Hey Brian, 

AZ will be happy to see you back!

It's a good time to get back in before rates come back down and things get crazy again. 

I'll shoot you a DM. Cheers!

Hi Matt, 

Like it was mentioned, cities/HOAs still regulate STRs a good bit. 

In the greater Phoenix area, Scottsdale has led the way with limiting STRs. It's difficult to find condos & townhouses that allow for them. For SFHs, you have to register them with the city and certain HOAs are cracking down harder. I mention this because most out of state investors default to Scottsdale. 

Outside of Scottsdale, a lot of areas are STR friendly for SFHs. But obviously you need to be strategic with where you pick.

Nice job Kai'ler. 

To only invest $5k into the deal with those returns is fantastic. 

Great start to your investing journey! 

Hi Kay!

Finding a duplex in PHX at $350k will be a tall order. For on market deals, there are a grand total of 2 currently listed. It might be possible to find an off market deal for that amount, but it will likely be in D level areas. 

I'm not sure if that changes your strategy, but thought it might be helpful as you look at AZ. 

Hi Cru, 

Great to meet you!

The first step to house hacking would be connecting with a lender so that you can understand what you qualify for and have the financial piece understood a bit more. 

From there, I''d suggest working backwards and game plan your long term strategy and doing your research on areas, the rents in those areas, your potential exit strategy, etc. Connecting with a trusted agent can definitely help out with this part. 

Hope this helps you move in the right direction!

You're welcome Nick. 

Got it, Tempe makes sense. 

I can connect you with a few LOs. Check your DM! 

Hey Nick, 

Most on market seller carry's will require a steep 20% down. With most SFHs in PHX averaging around $460k, it could become difficult to find one. 

I like your idea about a lease to own scenario. This might be the best route to get you in the door and secure your investment until you have a full time job/W2 job. 

There might also be some loan options to explore, so I would definitely suggest talking to a few Loan Officers. 

Are there particular areas that you are aiming to purchase in?