All Forum Posts by: Zack Niemeyer

@Nate T. I do not know if Mesa has the same rule or not as both my properties are located in Tempe. I am sure if you called a Property management company in Mesa they should be able to give you a quick answer on that.

Nate,

As a former house renting ASU student, and now landlord to ASU students and recent college grads, I have a few tips / insights. First, I always found the houses I rented on Craigslist. The Craigslist map feature works great and when I advertise using various methods, I always get the most response from Craigslist. The biggest thing I would say students look for in a College rental is distance to campus, a pool, 4+ bedrooms, and 4+ parking spots so I make these the key items in my listings. The best time to list college rentals is mid July and mid December. Also, if your renting a 5br home, it will be almost impossible to get 3 or less unrelated people into the house. However, there is a work around where you only have 3 people on the lease and the other 2 listed as occupants. Also, if you have never rented to college kids before, understand that they WILL destroy the house themselves or by others that come to parties they throw so make sure you get a fairly large security deposit because you should expect to use it all at the end of the term. With all that in mind and your comfortable dealing with college students, there is a much higher earning potential as far I have seen. Cheers!

I plan on attending!

Maybe it was a special case for me... However for my first home I got approved for a 30 year, 3.5% down FHA loan at 4.25% interest and found an off market home that I purchased at about a 20% discount. After one year, I was able to refinance to a 20 year conventional mortgage with 3.75% interest. My PITI increased only $90 from $1250 to $1340 a month due to savings from the lower interest and dropping PMI (due to the extra equity from when I bought the house). I am saving tens of thousands of dollars over the lifetime of the loan from doing this. I would say, look at every loan option available to you and run all the numbers to see what makes the most sense. Then, re-evaluate the situation in the future and maybe restructure the loan if necessary to better suit your needs. Every house is unique and there is no 'one size fits all' loan structure in my opinion.

@Bob E. You say we are due for another recession? Could you please elaborate or do you have any evidence to back this up? I am looking to purchase another home this year in Tempe, AZ and prices seem to be very inflated as of lately...

My house is just outside that box. My current house is near Broadway and McClintock. For my next house purchase later this year I am looking in this same area and also on the west side of campus as well for properties that need some minor rehabbing. I will be getting a 203k FHA loan as my current loan is conventional. I am targeting small multifamily units as well as 4+ bedroom single family homes. My main lead capturing methods will be driving for dollars, bidding on owner occupied only HUD homes, direct mail to absentee owners, and maybe a few bandit signs here and there. For properties that don't quite fit my criteria, I will to put under contract and wholesale. Hope this helps!

@Scott Weekley II 

That sounds great to me. I will be back in Phoenix in about 2 weeks. Currently away in La Crosse, WI for work.

I as well join the rest of you guys as new Investor in the Phoenix area. I currently live in Tempe and I am beginning to create my business model. Look forward to connecting with you all.

Thanks guys. I'm looking forward to being part of the community. 

Hello Everyone,

My name is Zack Niemeyer and I recently joined BP after about a year of lurking on the forum and getting on my feet in the real world. I grew up in the small town of Cave Creek, AZ which is just north of Phoenix. I currently reside in Tempe, AZ where I completed my BA degree in Mechanical Engineering from ASU in 2015. I have started my career as a Technical Sales Engineer for Trane commercial HVAC. I currently work with contractors, engineers and building owners to provide HVAC solutions to improve comfort and decrease energy usage. In my spare time, my hobbies include working on and racing cars with NASA AZ, golf, and wakeboarding at the local lakes.

I purchased my first 4Br/2Ba Single Family Home in 2015 right after graduating college in Tempe, AZ. I immediately began house hacking my property to essentially live for 'free'. For 2016, I am now looking at purchasing my first 4-Plex or even another single family home and continuing on my owner occupied house hacking crusade. At the same time, I am starting a real estate investment company that will specialize in wholesales, buy and holds, as well as fix and flip deals. The company is the Arizona Property Experts or APEX for short. 

I try to learn as much as possible each day about real estate investing. I would be extremely grateful given to opportunity to grab coffee and network with other investors in Phoenix, AZ. Being able to sit down and share experiences is one my the best forms of education in my opinion. My goal is to build long term and mutually beneficial business relationships. Feel free to reach out and contact me anytime! 

Thanks,

-Zack