All Forum Posts by: Zack Francis

My wife and I are currently looking for a property in Mesa, Gilbert, Chandler AZ. When running the numbers, accounting for vacancy and capex, the cost on cost return (yield) is 0% or slightly negative on almost all of the properties we look at.

I'm tempted to pull the trigger anyways. Here's why:

1. Low interest rates.

2. I expect inflation to continue, causing rent prices to increase, and housing to become even more unaffordable. 

Do you agree or disagree with this approach? Any thoughts or feedback are welcome.

Hi friends, I've done some homework on running the number in order to create a systematic way of analyzing deals. I understand the importance of getting experience through repetitions, but I first want to make sure I'm developing good habits as I "run the numbers" on properties.

I often get "stuck," and doubt my accuracy on a few variables:

1. Estimated Insurance 2. Estimated Taxes 3. Estimated rental income

Do you have any advice, or recommendations on calculating these variables in a timely, accurate way when running the numbers?

My fiancé and I are interested in house hacking a multi-family property in Arizona.

1. Would it possible to convert a single family large home into a duplex, triplex, or fourplex? How practical is this approach? 

2. Are there areas or zones that legally do not allow multi-family properties? 

3. Do you have strategies/advice you'd give to a young married couple looking to house hack their first investment property?

Thanks for your responses. We are so excited to use REI to achieve financial freedom!

It's June 2021, and I have the same question. Are there meetups going on in Phoenix? If so, I'd love to join!

My name is Zack, and I live in Arizona. Currently, my fiancé and I own and occupy a single family. We are itching to pull the trigger on an investment property, and have saved enough for an investment property down payment. Our goal is to replace our current income with real estate investments to gain financial freedom.

Two issues hold us back at this point:

1. Uncertainty about the location: AZ vs out-of-state. AZ is home, but we fear the AZ market is grossly inflated. I understand interest rates are historically low, but I feel like we could potentially get multiple properties if we were to invest in a city with a less expensive market. Out-of-state makes me nervous, because I wouldn't have access to the property itself or management company.

2. Uncertainty about the type of property: Single family vs Multi-family. Single fam seems much easier to purchase and manage (especially in Arizona), but we'd prefer a duplex or quadplex to increase cash flow. I'm 35 y/o, and I'm grappling with the decision to make a safer first investment with second single family unit vs take the leap of faith towards multi-family to increase cash flow with potential for more problems. We also love the idea of househacking, but we don't seem to have many multi-family properties available in our area.

Any advice or feedback would be appreciated! Cheers, Zack

Greetings BP community,

After saving up for a downpayment, I'm interested in purchasing a duplex or fourplex as my first investment property. I live in Arizona, and would prefer a local property, but I'm open to out-of-state properties as well. Ideally, we would love to househack. What are the best resources, and sites to locate multi-family properties? MLS?

Thanks for your feedback,

Zack