Navy veteran in Phoenix looking to build long-term rentals

Navy veteran in Phoenix looking to build long-term rentals

Member since 2024 · 1 post · 2 votes

Hey everyone,

I’m new here and figured I’d introduce myself. I’ve been listening to the BiggerPockets podcast for a while and finally decided it was time to jump into the community and start learning from people who are actually doing this.

A little about me — I’m a Navy veteran living in the Phoenix area. I’m in my mid-30s, married, and we have a young daughter. A lot of my motivation for getting into real estate comes down to building independence and long-term security for my family. I want to create something that gives us options later in life and allows me to be present for the people that matter most.

Right now I’m working toward what will likely become my first rental. We’re planning to move later this year, and the goal is to keep our current house as a rental property. My plan isn’t to rush things — I’m thinking long term and would like to slowly build a portfolio over time, maybe picking up a property every few years and holding them.

Ultimately, my goals are pretty simple:
• build a solid portfolio of long-term rentals
• create financial independence for my family
• learn from people who have already done this
• avoid the big mistakes early on

I’m here to learn, connect with other investors (especially anyone in the Phoenix area for coffee or something), and surround myself with people who are better at this than I am.

Looking forward to learning from you all.

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  • Investor · Pacific Northwest · Member since 2026 · 538 posts · 300 votes
    6mo

    @Cory Hebe 

    First off, welcome — and respect for the service. Look who are you and what you do.

    Your plan to keep your current home as a rental when you move is actually one of the most common (and underrated) ways people start building a portfolio. A lot of solid investors didn’t start by buying “investment properties,” they started by turning their previous homes into rentals over time.

    One thing I’d think about early — especially in Phoenix — is separating the emotional value of the house from the numbers of the rental.

    When people convert their first home into a rental they sometimes treat it like “their house with tenants in it,” which makes decisions harder later. Once it becomes a rental, it’s just an asset in the portfolio.

    The other thing I’d pay attention to in Phoenix specifically is insurance, taxes, and maintenance reserves. The market there has appreciated a lot over the last decade, which means a lot of first-time landlords underestimate the true carrying cost once the property becomes a rental.

    If you go into it with a long-term mindset like you described and treat the numbers honestly, you’ll already be ahead of a lot of people starting out.

    Good luck on the first one — that’s usually the hardest step.

  • Mason WeissBusiness Member
    Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
    6mo

    Hey Cory! I am an investor and girl dad in Phoenix as well. Let's grab coffee sometime, shoot me a message!

  • Patrick O'SullivanBusiness Member
    Property Manager · Phoenix, AZ · Member since 2024 · 527 posts · 200 votes
    6mo

    Hey Cory, welcome to BiggerPockets, and thank you for your service.

    It sounds like you have a solid long-term mindset, and starting by turning your current home into a rental is a smart way to get your first property without rushing. Treating it purely as an investment from day one, keeping the numbers in focus, and planning for maintenance and reserves can make all the difference.

    I also like that you are thinking slowly and steadily about building your portfolio. That approach often beats trying to grow too fast. Connecting with other Phoenix investors, as Mason suggested, is a great way to get local insights and start building your network.

    Looking forward to following your journey.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    6mo
    Quote from @Cory Hebe:

    Hey everyone,

    I’m new here and figured I’d introduce myself. I’ve been listening to the BiggerPockets podcast for a while and finally decided it was time to jump into the community and start learning from people who are actually doing this.

    A little about me — I’m a Navy veteran living in the Phoenix area. I’m in my mid-30s, married, and we have a young daughter. A lot of my motivation for getting into real estate comes down to building independence and long-term security for my family. I want to create something that gives us options later in life and allows me to be present for the people that matter most.

    Right now I’m working toward what will likely become my first rental. We’re planning to move later this year, and the goal is to keep our current house as a rental property. My plan isn’t to rush things — I’m thinking long term and would like to slowly build a portfolio over time, maybe picking up a property every few years and holding them.

    Ultimately, my goals are pretty simple:
    • build a solid portfolio of long-term rentals
    • create financial independence for my family
    • learn from people who have already done this
    • avoid the big mistakes early on

    I’m here to learn, connect with other investors (especially anyone in the Phoenix area for coffee or something), and surround myself with people who are better at this than I am.

    Looking forward to learning from you all.


     One of the best ways to build a solid portfolio is by Serial Househacking - buy a new home to live in every 1-3 years, renting out the existing one when you move.

    Challenges:

    1) Generating positive cashflow
    - If you pay market price, it usually takes around 5 years Class A rental) for rents to increase enough to cover your mortgage and other costs.

    2) So, you may want to buy a Class B property
    - Will your family go for it?
    - Will still take 2-3 years to cashflow

    3) Buying a property that will make a good rental vs one that your family wants
    - Tough to keep emotions out of the home buying process and only focus on analytics!

    4) Tenant-proofing the home vs making personal preference improvements
    - Again, emotions vs analytics

    5) Even more challenging if you try to Househack a 2-4 unit!

    6) Changing Owner-Occupancy to Rental
    - How will property taxes and home insurance amounts change?
    - If you look to refinance a primary-residence mortgage, you technically have to owner-occupy for 12 months before renting it out.

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