All Forum Posts by: Noah Corwick

Hi Hamidou, 

Have you looked into SFHs that have a guest home already built on it or SFHs that have a work shed or detached garage that you could convert into a guest home?

If budget is an issue, this is likely a more economical and creative way of going about getting into multi family. 

Overall I love the R2 zoning route, but the permitting & construction costs alone will be tough with the budget you outlined in your post. 

Got it. Typically the biggest appeal to Tempe is from an attracting college student standpoint, so I was curious. 

Depending on budget, there are some interesting multi family areas scattered around PHX + a decent amount of SFHs with casitas already built. 

Definitely a lot of options for the future! 

Hey Josh, 

Great goal! House hacking is a great way to get into REI, especially a multi family.

Is the appeal to having it in/near Tempe renting it out to college students? 

In regards to PHX for that budget, it's all going to depend on what is most important to you, cash flow or appreciation. IMO, PHX's current LTR market is better served from an appreciation standpoint. So again, all depends on your strategy. 

Though I graduated from college in Tucson (Bear Down!), I am no expert in the Tucson market. However, it is significantly easier to find a SFH that checks more of your boxes. Tucson continues to grow and will always piggyback off of the success of PHX, which is not slowing down.

Hi Matt, 

I agree with the comments above 

I'm sure you've already done this in your research, but I would definitely check the comps and see what you can extract from that. Check if you can gather intel on both MTRs and LTRs in the area. 

You should have a gut feeling after looking at this and can strategize as necessary. 

 You're welcome Josue! 

Hi Josue, 

Congrats on graduating and landing your dream job!

My advice is to house hack the property that you end up purchasing. It kills so many birds with one stone. You get a place to live in yourself, tenants/roommates pay your mortgage and help you build equity, and you can purchase it as a primary residence and potentially only have to put 3%-3.5% down since you would be a first time home buyer. 

Another thing to consider is if you end up not being able to qualify for a traditional multifamily home, then you can purchase a SFH that has a casita. Or a SFH that has a detached garage or work shed and convert it (running electrical and sewage might be expensive so do your due diligence). With limited multifamily properties in PHX, this is a realistic route that I'd recommend considering.
 
Cheers!

Hey Natasha!

There are some specific areas that I love helping investors target for multi family properties in PHX. 

I'd be more than happy to walk through some ideas and scenarios with you. 

Hi Jeff. I'll PM you. I have a great one that I can recommend to you. 

As a UofA alum, I applaud you for this flip. Heck of a job Devin!