New Investor in Tucson, Arizona

New Member Introductions
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New Investor in Tucson, Arizona

Kao Saeteurn
AZ · Member since 2018 · 78 posts · 40 votes

Hello BiggerPockets Community! My wife, Stephanie, and I are new investors in the Tucson, AZ area. We are originally from Northern California but have been stationed in Tucson for about 4.5 years now. I am in the USAF and my wife is a Pharmacist. We bought our first house in SE Tucson 3.5 years ago and love home ownership

Like most people, we were inspired after reading Rich Dad, Poor Dad so we reached out to our realtor and asked him to help us purchase another home. We are preapproved for a conventional mortgage with 25 percent down. We are looking to buy and hold single families in an area that is very popular with the military community and is in a good school district. We have been looking everyday to find a good deal, but we are not in a hurry. I look forward to interacting with the people on here as we start our real estate investing journey. 

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Andrew Kiel
Investor · Tucson, AZ · Member since 2017 · 208 posts · 235 votes
7y

Welcome.  As a new investor, I'd highly recommend attending an AZREIA meeting (AZREIA.org), which is a local real estate investors group that has an event on the 2nd Tuesday of every month.  This is a great way to start learning about various ways and areas to invest and also to network.

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  • Andrew Kiel
    Investor · Tucson, AZ · Member since 2017 · 208 posts · 235 votes
    7y

    Welcome.  As a new investor, I'd highly recommend attending an AZREIA meeting (AZREIA.org), which is a local real estate investors group that has an event on the 2nd Tuesday of every month.  This is a great way to start learning about various ways and areas to invest and also to network.

    1Reply
  • Greg Foley
    Rental Property Investor · Napa, CA · Member since 2019 · 32 posts · 14 votes
    7y

    @Kao Saeteurn Welcome to BP.  I currently live in NorCal, but lived in Tucson for 13 years previous.  We just bought our first rental property...in Tucson.  I echo @Andrew Kiel's recommendation to join AZREIA and get involved.  Although I live 1000 miles away, I'm going to figure out a way to do the same.  Building relationships is everything!  Best of luck to you.

    1Reply
  • Kevin Phu
    Developer · Tucson, AZ · Member since 2015 · 21 posts · 7 votes
    7y

    Welcome! Are there specific areas in town you are looking at?

    0Reply
  • George Blower
    Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    7y

    @Kao Saeteurn

    Welcome to Bigger Pockets.

    0Reply
  • Jimmy Deringer
    Real Estate Agent · Spokane, WA · Member since 2013 · 123 posts · 66 votes
    7y

    @Kao Saeteurn Welcome to BP! 

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  • Patrick AllenBusiness Member
    Realtor · Tucson, AZ · Member since 2014 · 241 posts · 139 votes
    7y

    Consider yourself invited to the New Investor subgroup meetups of AZREIA on the first Tuesday of every month. Granted, those meetups are marketed specifically at newer investors who don't quite know what they're up against: a platform to empower newer investors to get started saving capital, doing market research and lock down their first deal(s). 

    If you're pretty confident in your approach & target market etc, you may be better off heading straight to the "main meetings" on the 2nd Tuesday of each month.

    Either way, welcome to the community. Don't hesitate to PM me if you have questions about the local market.

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  • Kao Saeteurn
    OP
    AZ · Member since 2018 · 78 posts · 40 votes
    7y

    @Andrew Kiel @Patrick Allen great thank you. My wife and I will plan on attending the beginners one in March.

    1Reply
  • Kao Saeteurn
    OP
    AZ · Member since 2018 · 78 posts · 40 votes
    7y

    @Kevin Phu I am looking in Rita Ranch or anything in the Vail school district north of I10

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  • Mark Schmitz
    Investor · Tucson, AZ · Member since 2017 · 6 posts · 0 votes
    7y

    Kao, I have a rental in Rita Ranch and am familiar with the area. The schools are very good and Vail is growing. You may want to look at some other lenders, I was able to get my last investment property with 15% down with a conventional loan.

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  • Kao Saeteurn
    OP
    AZ · Member since 2018 · 78 posts · 40 votes
    7y

    @Mark Schmitz well we plan on putting 25 percent down to have lower mortgage. I do not want lower than 20 percent to avoid PMI. How well is your Rita Ranch property cash flowing? Mine won't be crazy high but I'm not expecting it to be.

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  • Mark Schmitz
    Investor · Tucson, AZ · Member since 2017 · 6 posts · 0 votes
    7y

    The cash flow is good. Now is a good time to purchase some "buy holds" in that area. Mattamy homes are being built just north of Rita Ranch which will pull values up so it would be good to grab some properties before the median house ceiling starts to rise.  You can check out some comps in Rita Ranch for rentals on Zillow however they are between 1150 and 1250 and last time I checked. Best of luck to you. 

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  • Kao Saeteurn
    OP
    AZ · Member since 2018 · 78 posts · 40 votes
    7y

    @Mark Schmitz great, thanks a lot Mark! We’re not quick enough on some properties. Turn key properties get swooped up pretty quick.

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