New guy here from Surprise, AZ (Phoenix area)
Hello BP community! The forums and podcasts have been a wonderful source of knowledge as well as information, and after lurking for a bit I suppose it is time to introduce myself. Name is Tom Suba and I currently work in the field of global logistics. I graduated from the WP Carey School of business at ASU with a finance degree few years ago.
I purchased my first home in 2004 in Prescott Valley. In 2009 I bought my Surprise home and rented it out for about a year before moving in. I still own my house in Prescott Valley which is now occupied by a family friend who has been basically paying the mortgage, so no extra cash flow, but someone at least someone else is paying off the mortgage in the mean time. I also bought a empty residential lot in the Prescott area (Diamond Valley for those familiar with the area) few years ago which has just been sitting.
You could say I became an accidental landlord just like many others, and until recently did not think much of it. Recently however I got interested in creating other income streams besides my salary and here we are.
I have little cash, my lot in Prescott, equity in existing properties, a potential partner with some capital who has construction experience, and my limited experience as home buyer and landlord.
Currently trying to learn as much as I can and figure out my strategy on getting into real estate. Any tips or advise at this stage would be greatly appreciated.