All Forum Posts by: Noah Corwick

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 

Hi Talia. 

Welcome to BP!

There are certainly creative finance opportunities here in PHX. I would recommend honing in on some specific cities within PHX that you'd like to target, as the metropolitan PHX area is very large. 

Also another option could be a DSCR loan as well. Definitely talk to a lender on if this is a viable option though.

Best of luck!

Quote from @Account Closed:

Quote from @Noah Corwick:

Hi Ashni, 

It'll all depend on what parts of PHX you are aiming to be in and what your investing strategy is. 

A SFH for $400k would likely land you in Glendale, Peoria, Mesa, Apache Junction. Slightly outside of PHX you could buy into San Tan Valley, Queen Creek and Casa Grande. So just depends on how central you want to be.

A few benefits of a Townhouse vs a SFH is that most Townhomes will be less expensive, and a lot of their HOAs cover the exterior and font landscaping of the home. IMO if you can get a SFH, get a SFH though.

I think people don't understand just how big the Phoenix area is. It's more than one Teepee and a wagon. There are a lot of good areas to invest.

Yeah very true. With the success of Surprise and Queen Creek, the valley will only get larger and expand. Soon places like Wittmann will be part of the greater PHX area haha. 

Hey Josh!

I could use some pointers, as I whiff too many times to admit at TopGolf haha. 

It sounds like you are aiming to be a buy and hold investor, but I would recommend shoring up your investing strategy. 

Is there any particular reason why you are looking at PHX or Tucson specifically? 

Hi Ashni, 

It'll all depend on what parts of PHX you are aiming to be in and what your investing strategy is. 

A SFH for $400k would likely land you in Glendale, Peoria, Mesa, Apache Junction. Slightly outside of PHX you could buy into San Tan Valley, Queen Creek and Casa Grande. So just depends on how central you want to be.

A few benefits of a Townhouse vs a SFH is that most Townhomes will be less expensive, and a lot of their HOAs cover the exterior and font landscaping of the home. IMO if you can get a SFH, get a SFH though.

Hi Torin, welcome to BP!

Have you been able to hone in on the RE investing strategy that you feel makes the most sense for your situation? There are a lot of different ways to start investing, so trimming the fat on the direction is a great beginning. 

Hey Mark! 

I might have just the lot for you actually. 

I'll shoot you a DM. 

Hi Christopher, 

Welcome to BiggerPockets!

That's great that you know the investing strategy that you'd like to execute, as that's often part of the initial battle.

Best of luck with your RE goals! 

Likely. Hopefully the buyer will be open about this if you ask, but you never know these days. I would work something into your future contracts or draft up an addendum about prohibiting contract assignment. 

That sounds like a great lot!