All Forum Posts by: Noah Corwick

Hi Joshua!

Welcome to PHX. Hopefully you are staying indoor with this crazy heat wave we are currently experiencing. 

The PHX market is no secret anymore and has really blown up. $15k can serve you decently if you are strategic and map out areas that are trending for appreciation.

House hacking is a great strategy for first starting out and living in PHX. It allows you to continue to save up, pay a lower down payment, provides housing for yourself without paying someone else's mortgage, allows you to continue to learn more about the different cities that make up the great PHX area, methodically spot appreciation areas and overall come out swinging on the next investment.  

Best of luck with real estate ventures! 

Quote from @John Ferguson:

Quote from @Noah Corwick:

Hey John!

Great to meet a fellow Phoenix-ian!

The PHX market is a bit crowded with STRs/AirBnB at the moment. A lot of landlords have reported not as optimized returns this year. Also with Scottsdale's now stricter rental and license policies, it's definitely a scenario to keep in mind. 

Definitely not trying to deter you from this, just wanting to play devil's advocate. There are definitely STR deals to be had, it's just a bit harder in today's climate.

What parts of town are you targeting for the STR?

 Hey Noah, yes nice to meet someone who stays in the area! I know Phoenix is a fast growing city and I think everyone's caught on at this point lol but I'm still hoping to carve out my own piece of the real estate market here. 

I'm looking for a property close to the Westgate area in Glendale, I'm thinking south of the 60 but north of the 10,still need to do some market research. Everyone here has given such great advice. Thanks for your input! 

Hey John, hope you're surviving the summer heat (it's supposed to monsoon this week and next)!

There definitely is rental opportunity out there, just have to dig a bit more than we previously had to. If you have a good contractor team around you, then a forced appreciation or BRRRR method might make sense. 

Glendale is opening up the new Mattel Adventure Park and a ton of crazy resorts (one is a man-made beach) out in Westgate, so I completely understand the appeal and now would be the time to strike. 

I'd love to brainstorm with you sometime if you're open to it!

Hey Cory, 

I would consult with a real estate lawyer regarding what type of co-ownership would make sense for this scenario. They'll be able to help determine if owning the property as tenants in common, as joint tenancy, or to avoid the situation overall is most appropriate. 

Best of luck! 

Hi Swetha!

I would recommend Semple, Marchal & Cooper, LLP, who are located in mid-town Phoenix. They are a great knowledgable bunch who I've used for years. They work with a ton of real estate investor clients.

Let me know if you would like me to do an introduction to them. 
 

Hi BP Community!

I am looking for an easy to work GC who values communication that is located in the general Phoenix, AZ area. 

The types of projects would range from smaller rehabs, to adding additional room/bathrooms and sq/ft to the subject homes. 

I really appreciate any recommendations ahead of time. 

Hey John!

Great to meet a fellow Phoenix-ian!

The PHX market is a bit crowded with STRs/AirBnB at the moment. A lot of landlords have reported not as optimized returns this year. Also with Scottsdale's now stricter rental and license policies, it's definitely a scenario to keep in mind. 

Definitely not trying to deter you from this, just wanting to play devil's advocate. There are definitely STR deals to be had, it's just a bit harder in today's climate.

What parts of town are you targeting for the STR?

Quote from @Sarah Cross:

Thanks for responding - after much research, we bought into the hype of the growing valley to fuel our rental plans, plus the White Tank Mtns to hike and amenities nearby that we enjoy as well. I know it will appreciate and hopefully cash flow if only a little for now until rates drop again. 

 Congratulations Sarah! I'd love to stay in contact and learn how it goes. 

Hi Sarah, 

I honestly have not purchased a rental in Surprise yet (though I want to at some point). 

But in my opinion, Surprise is an appreciation play. If you believe the hype surrounding it: the affordable new construction being worked on, the expansion of the 303, the large corporations opening up facilitates bringing in a ton of jobs, etc., then it could be a smart move. 

I personally feel you that if you believe in Phoenix's expansion, buy now and reap the potentially great rewards 5-15 years from now. Basically I wouldn't go into it at this exact moment in time as a cash flow play. Obviously I'm sure you can find deals that indeed cashflow, but Surprise smells of appreciation to me. 

Best of luck with your rental! 

Intuit loves to hide their desktop options and makes you work really hard to find them. When you go to their website and call their sales line, you'd swear the desktop option is extinct. However, this is not the case.

QuickBooks Pro is essentially gone, but QuickBooks Enterprise Desktop is not going away anytime soon. Premier is nearing its lifecycle though. There are also company's who are able to affordably host it in the Cloud so that you get the benefit of secure, easy, anywhere access. 

QuickBooks Online is a water down version of QBD, and has very limited features and functionality. Ask most CPAs or Accountants about QBO, it's always an entertaining conversation. 

I work with an amazing QB consultant and reseller, who I'd be more than happy to introduce you to. 

Hi Veronika!

The Phoenix market is an interesting one, and knowing which strategy you want to research, gain confidence in and eventually venture towards is key. 

Is there a particular strategy that piques your interest the most?