Rental Property Investor · Member since 2024 · 27 posts · 8 votes
I recently relocated to the Phoenix, AZ area and I’m currently exploring opportunities to implement a house-hack strategy. I’m looking for properties that provide strong potential for both cash flow and long-term appreciation, while allowing me to offset living expenses through rental income. If anyone has insights, recommendations, or knows of good deals in the area, I’d greatly appreciate your input.
@Kobe Carr Welcome to AZ. I'd love to hear more about what led you here to Phoenix. I understand that you are looking for an opportunity to invest in Real Estate by house hacking your way in, which in my opinion is one of the smartest strategies out there for jumping in. It allows you to take advantage of cheaper loan terms and lesser down payment requirements, which allows you to replenish quicker in order to do it again. That's actually how I got started in my own Real Estate investment journey back in 1999 with the purchase of my first property (a HUD home) that I fixed up and lived in for 3 years before making my second purchase to live in, renting out the first....and so on. So, I applaud your strategy.
I would love to know what your exit strategy is for the hack. Are you looking to build a portfolio of rentals as you go? Are you looking to sell and upgrade the property each time? Are you looking to have roommates right from the beginning, or rent out the entire property after you have purchased the next property? Obviously, those details change the way I would advise your purchase strategy.
There are alot of agents (even great ones!) on BP who, no doubt, have offered to help you set up searches and show you properties and so forth. However, I would caution against jumping in without sharing with your agent what your complete strategy is (including the exit strategy) as their direction for the acquisition should be different, depending on what you tell them.
And if they haven't asked you any of those fact-finding questions, then I would think twice about having them represent you. Just my two cents.
I recently relocated to the Phoenix, AZ area and I’m currently exploring opportunities to implement a house-hack strategy. I’m looking for properties that provide strong potential for both cash flow and long-term appreciation, while allowing me to offset living expenses through rental income. If anyone has insights, recommendations, or knows of good deals in the area, I’d greatly appreciate your input.
I have one you might be interested in. Leave a message or contact me at my profile if interested.