All Forum Posts by: Noah Corwick

This is fantastic Austin! I really appreciate you making this and starting with PHX. 

I'm sure this model will be super helpful in other cities as well. 

But feel free to keep making more for PHX because I'm not biased or anything haha. 

At the rough numbers you mentioned previously, I would say the 4 bedroom units. 

But it also depends on the area of PHX you are targeting as well. 

Hi Cara, 

It all depends on how quickly you want a profit. 

Most investors I know that buy considerable land quantities sit on it for 15-25 years and wait till the demand gets there. They also sometimes put in the infrastructure and then sell it to a developer as well. 

If you and your family are looking to strike sooner rather than later, it might make sense to sell it and reinvest in a new project. 

The 4 unit for sure. The numbers don't work for most Duplexs in the greater PHX area which includes not great cap rates. Plus if you are able to add a garage, that will go a long way for anyone who has lived in PHX for anything longer than a year. 

Hi Jesse, 

I would talk to a lender so they can map out your plan of attack. 

Like others have mentioned, you should hopefully have encountered some appreciation if you got a good deal on it, which will help tremendously. 

@Clayton Silva may be able to help here. 

Hi Jason. 

I grew up in Cave Creek, have lived in North PHX for most of my adult life, and have had a lot of success helping clients find properties in Surprise this year. 

Would love to help if strategize with you! 

Hey Adriana, 

I do not know the Bay Area market, but can connect you with one of my trusted resources who knows it like the back of his hand! 

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?