New & Looking to Get in Phoenix, Arizona

6 Replies

Hey guys! Just wanted to introduce myself. I’m a college student in the Phoenix, Arizona area, and I’m fairly new to the BiggerPockets community. I started listening to the BiggerPockets podcast about 8 months ago and I’ve become obsessed with it. I have recently been reading books on real estate and thinking this is something I want to do for the rest of my life. If anyone has any tips, tricks, or advice and is willing to reach out, I would love to hear what you have to say. I’m ready to learn and more than willing to help out where I can!

@Caleb Augustyn glad to hear about the spark you have to learn about real estate Caleb, you are getting started at the perfect age! My name is George and I am an Investor/ Realtor in the Phoenix/ Scottsdale market that has over a dozen investment properties now and also manages a fleet of over 25+ STR properties. More than happy to connect and answer any questions you may have! I graduated from Arizona State University back in 2010, and it has been quite a wild ride this decade getting my feet wet in real estate.

I started in commercial real estate but ventured into residential a few years ago when I started buying some value add opportunities that brought in stable cash flow and realized my heart was in helping people find the perfect residential property for them. If I was to give some advice, it would be to educate yourself as much as possible on here with all the different investment strategies, the different financing options, and also do not be afraid to reach out to people or post back on posts you find interesting. There are no dumb questions ever, and the entire BP community respects every eager person that is interested to further their knowledge in real estate investing.

I tend to invest in "value add" properties, which are properties that you walk into that may at first glance look like they filmed a horror movie in, but have A+ locations that I can budget a remodel ( new floors, cabinets, granite countertops, paint, showers, etc..). Then be sitting on instant equity once the remodel is complete and the house is appraised. The difference gained is known as  "equity" and I tend to feel good of sitting on a bare mimimum of 30k once the project is complete. This is my strategy and is fairly simple, but has helped me obtain several homeruns over the year, and also works in both down and up markets.

The ability to pull this off means you are going to have to identify the right properties that are currently under market value and come in aggresive with the purchase price. In Phoenix, the market has gone up quite a bit in the last several years, but we are still a very healthy housing market with low property taxes and over 250 people a day moving here. Lots of growth and job opportunities in the valley. More than happy to answer any questions you have!

Best,

George Mevawala

@George Mevawala thanks for the response! Hey so I'm really looking into the idea of becoming a real estate agent while in school. Any tips on how to get started? Should I get my real estate license right away then look for a brokerage? Or should I find a mentor first and learn the business side of things from a professional first? What do you recommend?

@Caleb Augustyn

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search

Alerts can be really helpful too: http://www.biggerpockets.com/alerts

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

@Caleb Augustyn you can get started by going either way to be honest. You can either find a mentor and try and learn as much as possible from them and pick up some hours either interning for them for some real life real estate experience while finishing college, OR  pick a real estate school to take the classes either online or in person ( I recommend the arizona school of real estate and business ) and in person as you will get more out of the classes from the in person engagement.

Then start researching and calling all the local firms in town and request to meet with the brokers. Let them know you are a college student in process of getting your real estate license but as eager as possible to learn the ropes and you will definitely be able to find somebody that wants a motivated and eager to learn professional on the verge of being licensed. I think you will be fine going either path, good luck!

What's up @Caleb Augustyn ! I invest in the Phoenix market and it's been great. A few words of advice that have helped me:

1. Prioritize location: location (in my opinion) is extremely important. I learned the hard way when I bought property back in the day initially in a C/D neighborhood. The neighborhood you invest in attracts a particular tenant class. Your tenant controls your income. You want the best tenant possible.

2. Network, network, network. Non-stop. Everyday. Connect with people who are accomplishing things you want to accomplish. Phone calls, lunch, meetups. Don't stop because your connections are so valuable.

3. Build a strong team of a property manager, agent, inspector, lender, insurance agent...these key individuals will make or break your investment.

I got plenty more takeaways I've experienced throughout the years. Hit me up if you have any questions!

-TYLER

@Caleb Augustyn Welcome to BiggerPockets and to Arizona.  I hold a monthly meetup group for investors in the East Valley (Mesa, Arizona).  You are welcome to attend if you would like.  Here is a link to the details. It's a great place to learn and network.

https://www.biggerpockets.com/...

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