Newbie From Tucson, AZ!

9 Replies

Hi everyone! 

My name is Dylan. I am an Account Manager for a flooring company in Tucson. I am from Texas, but my wife and I live in Tucson, AZ now. I have been a member of BP for a few years and have been listening to the podcast for even longer, but am just now committing to being active in the forums. I first became interested in REI when I was a Sophmore in high school and scrounged up $2000 to attend a "seminar" in Dallas back in 2012. Even though the seminar was a three-day sales pitch to sign up for the big package, my passion was sparked and I continued to learn on my own.

Our end goal in real estate is to build a buy and hold rental portfolio. Phase one of that goal that we are currently on is to buy 2,3,4-plex in Tucson and house hack it. Our goal is to get $100.00 per front door in monthly cash flow after all expenses. After our first deal, which we plan on getting with an FHA/203k loan, I will begin looking for deal #2. I would like to transition into bigger multi-family apartment complexes in the future when I have a better track record and can consciously approach investors and know that I know what I am doing.

Thanks!

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Hi Dylan! Welcome to BP (albeit, you've been a BP member for a few years, but still, welcome!). It is awesome to see you're starting on this so early (best time to start in REI was yesterday)! Sounds like an excellent plan. Once you do decide to procure your first rental, definitely lean on the BiggerPockets community as a resource; I'll also say that it could be worth considering a shot at a software solution built for DIY landlords (1 - 15 units) to bring some automation to the rental management process (just to make things much much easier for you)! Again, best of luck on getting started and more than happy to answer any questions that you might have about online rent collection options. Welcome to the community! @Dylan Whitcher

@Dylan Whitcher great to have you in the forums man. There are a surprising number of people in Tucson doing the same thing thanks to all of our large supply of smaller multifamily. Have you spoken with a lender yet? One thing I advise all of my investor buddies and clients is to get that done as early as possible. The good MF deals are moving quickly and waiting 24-48 hours for that piece of paper has cost a couple people deals.

@Account Closed I have spoken with one lending company I was referred to here, but they been pretty slow at getting back to me, going on over a week now since I have had contact with them... I plan on giving them until Friday before moving on to another. From what I understand there was family emergency. My wife and I plan on hitting the ground running once we are approved though, so we will see how fast this all tolls out.

@Dylan Whitcher we are focusing on SFH for our rehabs. Our target market is norther Tucson. Our marketing efforts are concentrated On properties North of River through Oro Valley and North of Tanque Verde on the Eastside. However, if we find a deal in the Metro area that meets our numbers we would gladly do it. We are staying away from the Southside though.

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