22 y/o getting started Phoenix area AZ

6 Replies

hey my name is cobi maimon I have been learning and educting myself over the last couple of months about real estate and feel like im ready to get started.

I am moving to Scottsdale AZ in a couple of weeks and i am looking forward to start building my core team and get to know investors from the area as well.

So I am planning to foucs on multi families to buy hold and rent and I would like to get some recommendations for excellent 1.mortgage banker

2.insurance broker

3.property manger  

4.closing company

5.realtor 

Thank you in advance for taking the time to help me out and good luck to all of us :)

You should probably start with the financing and get preapproved first because if you don't qualify for a loan the effort put into researching all of the others will be moot.

Originally posted by @Aaron K. :

You should probably start with the financing and get preapproved first because if you don't qualify for a loan the effort put into researching all of the others will be moot.

 Hey thanks Aaron,

You reminded me that i forgot to mention I am  not alone, i am working with my older brother(that all ready lives there for 2y) as partners, he is 28 with multiple businesses  hige credit score  good history with the banks and of course cash.

so finance is covered its more about starting to find deals and bulid a good team to put it to work when we do :)

Do you and your brother have enough for 20-25% down? And are you already pre-approved? If not financing is not yet covered, there are plenty of people with cash and high credit scores who can't get loans for what they want because of DTI ratios. Also if you have a partner that is family your first stop should be setting up an LLC or other documentation so that everyone knows what to expect before getting started, making money isn't worth getting into a feud with family over.

Hello @Cobi Maimon - welcome to Arizona!   Sounds like you have a plan - good for you.   Since you were looking for a realtor on that list I would love to work with you.   I totally agree on the financing part, and I understand you have a plan for that too.   You will need a prequalification letter/form before you can start seriously looking for properties.  I know you said you were working with your brother so perhaps he has that but wanted to mention it.  Feel free to connect with me.  I know the Scottsdale market well.  Good luck and take care.

Debra Thomson, RN       Realtor Phoenix AZ  

@Cobi Maimon I am a PM in the Phoenix are and East Valley. I work with a Realtor who is well versed with investors and rental properties. She is currently working with several of my clients and I’m sure her and I could be of assistance to you.

Hello! @Cobi Maimon

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp



The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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