New Member from Phoenix, AZ

9 Replies

Hello BiggerPockets!

I recently moved to Scottsdale, AZ from Toledo, OH and am looking to get started in real estate investing by house hacking. I currently rent, but plan on purchasing a duplex or triplex next year.

A little about me - I was an auditor for a CPA firm for almost three years, which consisted of working many late nights and weekends, until I suffered through an unexpected health issue and realized I didn't want to work my life away. In March, I accepted a job offer as a Senior Analyst and Accountant in Phoenix, AZ, where I now work a normal 8-5 and can concentrate on studying real estate investing in my spare time.

My long-term goal with real estate investing is to acquire buy and hold rentals that generate enough monthly income for me to be financially free. My short-term goal for this year is to pay off my car in the next 4 months, continue to read and listen to anything real estate investing related and get involved in my local REIA.

I'm looking forward to connecting with the BP Community, and would love to meet any who are in the Phoenix area!

Welcome @Kelsy White!

I'm sorry you experienced a health issue, but it sounds like you found the silver lining...and your new home and your new calling. You have a sound strategy for your future and BP is THE place to get the knowledge, support and insight to make it happen. I hope to get to meet you one day because I love your enthusiasm.

Wishing you lots of learning and a bright future in investing!

Melanie

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@Kelsy White

Welcome to biggerpockets!

Working as an accountant(auditor/tax/advisory) can be very challenging with the busy season hours.
There are many accountants on this messageboard who were previous big four / mid-sized accounting firms.

You made the right decision and moved to a firm with more of a work life balance.

Good luck to your real estate investing career.

@Kelsy White

Welcome Kelsy, you're in the right place, online and on the ground! ;)

Two of my favorite books:

Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth by Larry Loftis and

Building Wealth One House at a Time, 2nd Edition by John W. Schaub

It sounds like you have plenty of time to learn how to spot deals and analyze them.

Reach out anytime.

Cheers to your prosperity!

@Stone Jin Thank you! I've actually been contemplating that for a little while after looking at the housing prices in the Phoenix area. It seems like it would be easier to find cash flowing property in Toledo (I'm extremely new to this, so I could be completely wrong). I'm just a little hesitant investing out of state, especially starting off, but I will definitely keep looking into it!

@Melanie Johnston thank you! Yes, I did seem to find the silver lining. I'm really glad I moved to the Phoenix area, so much to do and see, plus I don't have to deal with snow and ice in the winter :) And definitely, I'd love to connect one of these days!

@Basit Siddiqi thank you! Yes, the busy season hours were grueling and gave me no free time to do the things I enjoy. It was a great experience, but I'm glad I made the move and have some time to start focusing on real estate investing!

@Michael P. haha true, but unfortunately no paid lunches for me :(

@Bevla Reeves thank you for the recommendations! Building Wealth One House at a Time is actually what I'm reading right now, so far it's been the best one I've read!

@Kelsy White

Welcome to BiggerPockets! You're in the right place!

As for your strategy, you may have to make a little bit of a commute to find a 2-4 property, as Scottsdale is more of a resort-style living town full of Single Family Homes. 

Here's a map of the recent 2-4 unit sales in the past 6 months. Phoenix, Mesa, Chandler and Glendale have most of the multifamily around here.

For now, you just need to familiarize yourself with the market and learn the the lay of the land. Phoenix is BIG, and there's a lot of ground to cover. Study on here, join in the conversation, and explore your local market. Best of luck and welcome to Phoenix!

@Kelsy White The real estate guys always say, live where you want to live and invest where the numbers make sense.  There are some good Toledo investors on the forums that you can always reach out to if you have questions.  

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