All Forum Posts by: Pat Aboukhaled

Hey Jay! Welcome to the world of real estate! Land flipping and new construction can be a fantastic choice, especially if you’re taking your time to learn the ropes. Jumping into land deals can be exciting, but it's definitely a different animal from rentals. There’s a lot of potential for creative strategies. Especially if you’re interested in finding off-market gems.

About your first few questions when it comes to bank accounts and loans, there’s no special “land flipping” bank account, but you want one set up specifically for your real estate activity. If you’re going to be doing land deals, consider opening a business checking account; it’ll keep your personal and investment expenses separate, which can help a ton when tax season rolls around. As for loans, land financing can be tricky, especially if you’re looking at raw or undeveloped land. Traditional banks sometimes balk at it because they see it as riskier, but local credit unions or regional banks tend to be more open to it, especially if you can show a solid plan for development or resale. From what I’ve heard, some lenders in Texas are especially favorable for these types of projects, so it’s worth checking out a few in the area.

Now, finding those elusive off-market deals is an art in itself! One of the best ways? Networking with local landowners and attending real estate meet-ups or county auctions sometimes, folks prefer a direct sale to an investor over listing with an agent. I had a client who found a fantastic piece of land this way; he started chatting with someone at a local real estate event, and boom! six months later, he closed on a property without it ever hitting the market. Websites like LandWatch or Land and Farm can also be good for spotting some options, although off-market deals usually come from direct connections. If you’re serious about getting into the game, I’d say build up those local contacts they can be your biggest asset.

Glad you’re meeting with someone in real estate financing soon; it’ll be invaluable for guiding you through loan options and what’s realistic for a first purchase. Feel free to ask if anything else comes up along the way always happy to help a fellow investor-to-be get going in this crazy, rewarding industry.

Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Daniel!

Really cool to see a pro athlete from Greece diving into real estate! Dallas-Fort Worth is a smart choice, man the growth there is off the charts, and there’s plenty of room for first-timers with the drive to go all-in.

I remember helping a buddy of mine who was in a similar boat to you, he was switching from a totally different career and diving into real estate. He was overwhelmed at first with all the "insider" stuff: the 1031 exchanges, cash-on-cash returns, and figuring out what an ideal cap rate is, especially in a hot market like Dallas. But man, once he got that first deal under his belt, he couldn’t believe how much easier things clicked from there. The learning curve can be steep, but it’s also the most exciting part, especially if you’ve got someone who’s been through it and can help you make sense of the chaos.

If you’re thinking about starting small, maybe a single-family rental just to dip your toes, that could be a great intro. And it’ll give you time to build relationships with local contractors, property managers, and, of course, agents who know the area. Dallas-Fort Worth’s got a lot of people looking for rentals, so demand’s high... but finding a solid deal is key (from what I read in the WSJ).

Let me know if you need any help! I’ve got a network across the states and can connect you with investor-friendly folks in Dallas who understand what it's like to get that first deal going. No question is too basic; we’ve all started somewhere, and the more you can absorb now, the better.

Wishing you the best of luck on this path! Excited to see where you take it—feel free to reach out if anything comes up.

Hey Roopy,

Great to meet you! It's fantastic to see someone diving into real estate so early. I started investing in Phoenix in my 20s too, and it's been quite the adventure.

About your F1 visa situation, while I'm not an attorney or CPA, I had a client a while back in a similar postion. From what I've heard, foreign nationals can purchase property in the U.S., but financing can be a bit of a challenge. Maybe check out Arizona International Mortgage... they've helped others navigate this before.

If you're up for it, we could grab coffee and chat more about your plans. Always good to share stories and maybe learn a thing or two myself!

Take care, Pat & Jasper

Hey Kent,

That's a really insightful question! Housing affordability is definitely a hot topic in Texas these days. From what I've read in the Wall Street Journal, Austin's push to increase zoning for multifamily developments seems to be making a real difference. A friend of mine, who's been investing in Austin for years, mentioned that this approach is opening up more opportunities for both developers and residents.
In my own experience here in Phoenix, flexible zoning has been a game changer. We saw neighborhoods revitalized when the city allowed for more mixed-use and multifamily projects.. It not only provided more affordable housing options but also boosted local businesses. While subsidies and other initiatives have their merits, I genuinely believe that adjusting zoning laws to encourage diverse housing options could have the biggest impact across Texas.
If you're ever interested in discussing this further or exploring investment opportunities in Austin or even Phoenix, feel free to reach out. Always happy to chat over a cup of coffee!

Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Tracy,

I remember my first deep dive into STR (short-term rental) investing back when I was looking at areas around Phoenix for desert escapes.. felt like a full-time job with all the unknowns! Pigeon Forge/Gatlinburg is a fantastic choice.. those mountain cabins attract serious travelers all year round, especially with all the seasonal tourism. You're definitely on the right track.

A friend of mine actually went through this journey a few years ago.. she picked up a cozy cabin around Pigeon Forge after a few back-and-forths with local agents. What she found helpful (and I swear by this too) was really taking the time to understand the local zoning rules.. some areas are super-friendly to short-term rentals, while others could throw up unexpected roadblocks. From what I read in The Wall Street Journal, these little nuances can make a big difference.

One thing I always tell first-time investors is to connect with a few locals in real estate and maybe some in property management. These folks can help you understand what to expect for high and low seasons, and they’ll have some insider tips for staying booked up. For example, the winter season around Gatlinburg brings in families looking for a cozy mountain getaway, so making the cabin feel festive can boost those winter bookings.

Another thing is the financing aspect. It's worth checking in with a few investor-focused lenders who get the STR game. Some traditional lenders might not see the value in a cabin rental, but a lender familiar with STRs knows the potential income these properties can bring. When I got started in this, I learned the hard way that not all lenders view STRs the same, so finding someone in the know can save you some serious stress.

If you ever need an ear or just want to run a few ideas by someone who's seen a lot of angles in the STR market, feel free to reach out! This game is a bit like a puzzle, but you're going to love how it all starts to come together. Also, I'm obviously biased, but I do think you would have a greater upside with lower risk as an out-of-state investor looking in AZ just so you don't have both your personal home as well as your investment property in the same market - diversity is key in this game! Just a thought :-)

Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Patricio,
Welcome to the world of finding those golden, off-market deals! I totally get it.. sometimes the best deals feel hidden away, like some secret club only a few people are in on. I've been in real estate long enough to see that the hottest deals don't always make it to the big stage (Zillow and MLS), and it's usually those lesser-known opportunities, like wholesale or pocket listings, where investors strike gold.

Now, you might be wondering, "Why on earth would a seller avoid listing on the MLS and get that broader exposure?" Great question. In my experience, sellers sometimes prioritize speed, privacy, or just a smoother, less public process. Imagine an owner who inherited a property and doesn't want the hassle, or someone in a tricky spot financially who needs a quick sale; they might go the wholesale route for a faster, lower-profile sale without the back-and-forth drama of traditional listings. It's all about avoiding the noise and getting things done.

For finding wholesalers or pocket listings, building connections locally is a game-changer. I'd say attend some local REI (real estate investment) meet-ups or network events around San Diego... you'll find people who live and breathe these off-market deals. It's like, the more people who know what you're looking for, the better your odds. I have a friend who's a flipper in Phoenix, and she swears by her go-to network of wholesalers; they're the first ones she reaches out to whenever she's looking to buy. She even worked out a deal where one wholesaler gives her a heads-up on deals before they hit his main list.. Not a bad setup, right?

One trick I’ve found helpful is connecting with local real estate agents specializing in investment properties. From what I read in The Wall Street Journal, agents are often clued into those hidden listings before the general market. A client I worked with in Austin found two great flips simply because his agent had her ear to the ground and knew where to find hidden listings. Maybe there’s an agent in San Diego who could give you that extra edge?

Anyway, hope that sheds a bit of light, and don’t hesitate to dig deep into those local networks. It’s a little more work upfront, but trust me..it’ll pay off in the long run. Let me know how it goes, and happy hunting out there!

Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Bree,

It's fantastic to see your excitement... it reminds me of a friend of mine who was in your shoes not too long ago. She jumped into the BRRR method and found some unexpected challenges, but also some great successes.
When I started out, I realized that having a solid network was more valuable than any textbook could teach me. My buddy Mike, for instance, found his first investment property through a tip from a local barista and talk about being at the right place at the right time.
Regarding your credit score, while higher scores can open more doors, I've seen folks make strides with scores in the mid-600s. Lenders often consider the whole picture, so keep building that credit but don't let it hold you back from exploring options.
Since you're considering a trailer to fix up, have you thought about markets like East Phoenix or the outskirts of Austin? A client of mine recently renovated a mobile home in Tempe, and it's become a surpisingly lucrative rental. From what I read in the Wall Street Journal, there's a growing demand in those areas.
If you're on the lookout for a reputable financial advisor, I know someone here in Scottsdale who's helped new inverstors navigate the financial maze. Happy to introduce you if you're interested.
Starting out can feel like drinking from a firehose, but remember, everyone starts somewhere. If you'd like to chat more... maybe swap some stories over a decent cup of coffee... just say the word.

Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey David,

Awesome to hear you're jumping into your first real estate deal... exciting stuff! Mortgage assumption can be a smart move, especially with rates where they are.

Funny enough, my buddy Mike over in Austin ran into a similar situation last year. He was eyeing a property with a HELOC attached, and we found out.. from what I've herd, banks can be a bit cautious when there's a second lien. You'll need to chat with both lenders to see how flexible they are. In Mike's case, we managed to negotiate paying off the HELOC at closing, which smoothed things out.

As for negotiating, properties that need some love are perfect for that. Since the place isn't in tip-top shape, you might have some room to negotiate the price down or ask for seller concessions.

Partnering with another investor is a solid movee; two heads are better than one, right? If you ever want to bounce ideas off someone who's been around the block a few times, feel free to give me a shout.

Pat and Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Natalie,

Jumping into tax-defaulted property auctions... now that's an adventure! A while back, I attended one in San Diego County. Felt like being at a high-stakes poker game, but with properties on the line. Ended up snagging a fixer-upper that most folks overlooked because it had this giant avocado tree blocking the front view. After some creative landscaping (and a lot of guacamole), it became one of my best rental properties.

From my experiences, here are a few tidbits:

Do Thorough Research: Before the auction, I dove deep into property records. Almost bid on a place that, from what I heard, had a hidden easement issue. Close call!

Set a Firm Budget: It's easy to get caught up in the bidding frenzy. I always set a max bid to keep my wallet in check. Once ignored my own rule and, well, let's just say my accountant wasn't thrilled.

Have a Clear Exit Strategy: Knowing whether you want to flip, rent, or hold onto the property helps steer your decisions. In Phoenix, I turned an auction win into a successful Airbnb-⁵didn't see that coming at first!

If you're thinking about auctions in other areas like Phoenix, San Diego or Austin, I've built a strong network over the years and could introduce you to some folks who've been down that road.

Pat and Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Hey Ram,

I know exactly what you're going through; finding DSCR lenders who are wrap-friendly can feel like trying to find a needle in a haystack. A buddy of mine in San Antonio faced the same challenge last year. He ended up connecting with a local community bank that was willing to be flexible as long as the payments kept coming in. They didn't make a fuss over the due-on-sale clause because they valued the relationship and the steady cash flow.

From what I've heard, smaller regional lenders or credit unions are sometimes more open to these kinds of creative financing strategies. They tend to look at the bigger picture rather than just the fine print. It might take a bit of digging, but they're out there.

As for private lenders, there are definitely genuine folks who are open to wraps. I've got a few contacts in the area who've been keen on investment opportunities like the one you're describing—buying all cash, rehabbing, refinancing, and wrapping. They're always on the lookout for solid deals.

If you're up for it, maybe we can grab a coffee or hop on a call. I'd be happy to introduce you to some people who might be able to help. Sometimes it's all about who you know in this business, right?

Let me know what you think. 

- Jasper / Pat Aboukhaled
Turning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC