All Forum Posts by: Noah Corwick

Hi Kamil, 

Though I am not in CA, I work with a great agent in the Bay Area that I can introduce you to. He works with investors all the time. 

I'll shoot you a DM so that I can do an introduction to him! 

Hi Ana. Here is some devils advocate on buying new homes. 

One of the inherent risks of new builds is locking in an interest rate. A lot of times you get under contract for a spec home and the financing is based on that specific day. But if the build takes +6 months for example and rates change dramatically, then you are stuck with the higher rate. 

You also have to factor in future property taxes. When they calculate the financing for spec homes, a lot of times they can't accurately forecast this portion. The result is after a year when the tax accessor associates the proper property taxes with your property, there is a decent chance you could have payment shock and your monthly bill rises significant (until you pay off the escrow account balance that is also likely causing this). 

Also depending on the builder, some of the builds will do spotty work. So it is really important to try to get everything repaired before COE or the builder will take their sweet time getting to you/find an excuse to get out of it. 

Also make sure you are represented by an agent instead of the new home sales agent represent you. Remember, they always have their company/the sellers best interest at heart.  

Unless you want to Wholesale, there are two main categories that then break down to smaller categories, subsets, and hybrids, which are acquiring rentals or doing flips. 

A mental exercise that I always like to ask is what is most important to you as you get started? Appreciation? Cash Flow? Lump sum payment? Then what timeframe is the most vital to you, short term/mid term/long term? 

Answering those will lead you in the right direction! 

Hey Rachel!

Way to take the just step in investing, putting it out into the universe. 

There are quite a few options that you will have to start investing in real estate. Have you honed in on what strategy you'd like to dive into?

Sometimes deciding on which route to take is the hardest part when investors first get started. 

Hey Tim!

I would definitely recommend Chris Stockman. He is a master at his trade, has fair pricing and is a great human. The only thing he wouldn't be able to help with from this list is the roof patching (he doesn't do roofing). Everything else is in his wheelhouse. 

Chris's number is 928-951-6117. Tell him I sent you.  

 Hi Shahrouz. I'd recommend @Clayton Silva. He is a wealth of knowledge, has awesome options and has great rates. He's also a great human being and is easy to work with. 

Good luck!

Hi Darrell. 

Welcome to BP!

House hacking will definitely be the easiest route to getting started in your real estate journey (if you don't mind moving of course).

What areas you targeting for your future rentals?

Hey Iman. Officially welcome to the BP forums! 

My team can certainly help you with this. We work with a ton of investors and are investors ourselves. I'll shoot you a DM. 

Welcome to BP Michael!

Way to put it out into the universe about jumping into RE investing.

I think it's a great idea to invest in properties that you can take advantage of an ADU on. I personally believe it's smart to get ahead of the curve of this trend before ADU's become more of the norm in AZ. You'll reap the benefits in the long term when it's more widely accepted by renters here with the cost of living skyrocketing (it's a little better in Tucson compared to PHX, but still).

Best of luck my friend! 

Hey Steven!

The easiest route for showing the property and running background checks would be to hire a property manager. This allows you to be mostly hands off and have the property serve as a true passive investment. 

The other good thing about PMs when it comes to LTRs instead of STRs, is they take less of a percentage from the profits since it's much easier for them to manage. 

If you would like to be the PM and just need someone to show the property, then you can work with a realtor to list it and show it