All Forum Posts by: Patrick Walton

@Bob E. - thanks for the advice Bob! I appreciate hearing the experience of others.

We are currently in the process of purchasing our first property with plans to scale as quickly as we can. We have considered doing it ourselves, but I want to make sure that we are setting ourselves up properly at the get go and not leaving anything on the table.

@Natalie Kolodij

Thank you much for the advice Natalie. I will do that!

Good day all,

I am a new investor residing in the Phoenix area. I am looking to find a CPA in the Phoenix area to begin a working relationship with as I grow my portfolio.

I have searched through the forum but have not found many recent posts.

If anyone out there has any recommendations or is a CPA and would like to reach out to me, I would love to initiate a conversation.

Thank you and continued success to you all!

Good day BP world!

I am new to real estate and am asking for advice or information.

I am considering purchasing a property from a turnkey provider in Bessemer, AL. I am in Arizona and not very familiar with this area at all. I have been doing some research and I am getting conflicting opinions. So, I thought I'd reach out here and ask for advice.

The property is located near Grant St. and 4th Ave SW. Its is a 3/2 and about 1200 sq. ft. It will be getting a new roof, HVAC, and water heater along with a light remodel of the interior (new flooring, drywall/paint, refinishing of kitchen and bathrooms). They are asking $138K for it. I have read that Bessemer can offer decent cash flow, but also that the crime rate is high and vacancy could be an issue. Is this a good market to invest in and what should I expect as a reasonable month rental rate?

If any one who is familiar with this market is willing to offer any input or advice it would be very much appreciated!

Thank you in advance!

Hi @Bob Okenwa,

Thanks for the reply and I agree completely with your point about 0 down and finding cash flow and it is my concern. We have discussed putting some cash down,however which might be the smarter way to go.

I feel like that area is going to grow and appreciate over the next 5 -10 years, so I could be comfortable with less cash flow in exchange for longer term value.

Greetings BP community,

My name is Patrick and I am looking to begin an investing career in the Phoenix area. My wife and I purchased our current primary residence about 5 years ago with the intent of eventually turning it into a rental. We used my VA loan to purchase the house. With the current state of the market here in Phoenix, it feels like it is the right time to refinance out of the VA loan and start renting it out.

We are considering purchasing another new build in the Westgate area, using the VA loan again, and using the same strategy if living in the home for 2 -3 years and then turning that property I to another rental.

I am looking for any experienced advice from those familiar with the Phoenix market in regards to the Westgate area. It seems to me that it is a good area with lots of growth and good possibility of appreciation over the next few years.

However, I am concerned about cash flow once we transition it into a rental.

Any advice or thoughts would be very helpful and greatly appreciated.

I am new to BP and have been blown away by the community and the amount of education and knowledge available. I look forward to networking with and meeting other members in the future as I begin a new career in REI.

Thank you