New in Los Angeles, interested in BRRRR in Phoenix

7 Replies

Hello! Looks like I actually joined the site 3 years ago, but just rediscovered it and have been diving into the podasts. 

I'm approaching 40, live in Los Angeles and have been pretty lackadaisical about my finances and planning for the future. Feel like I'm getting a late start.

I'm looking to get into buy and hold rentals using BRRRR in the Phoenix metro. The hope is that i can get a few properties going and down the line be able to get a multi family house hack going here in LA. But for now, we'll keep renting. Phoenix makes the most sense to me right now because I have some family there, it's close, and the cost of entry is so much less, but it does look like deals are hard to find. We're on roughly an 18 month timeline to start while we save, pay down debt and learn as much as we can.

I work as a sound mixer for the film and tv industry. A really busy sound mixer works only about half the year or so. So I find myself with a ton of down time that could be spent really getting my hands dirty in real estate. Before moving to California, I was in St Petersburg Florida working as sort of a day laborer for a guy that flipped houses. I did it for a year or so, but it was a long time ago now.

Looking forward to it!

 

Originally posted by @Ryan Bertolami :

Hello! Looks like I actually joined the site 3 years ago, but just rediscovered it and have been diving into the podasts. 

I'm approaching 40, live in Los Angeles and have been pretty lackadaisical about my finances and planning for the future. Feel like I'm getting a late start.

I'm looking to get into buy and hold rentals using BRRRR in the Phoenix metro. The hope is that i can get a few properties going and down the line be able to get a multi family house hack going here in LA. But for now, we'll keep renting. Phoenix makes the most sense to me right now because I have some family there, it's close, and the cost of entry is so much less, but it does look like deals are hard to find. We're on roughly an 18 month timeline to start while we save, pay down debt and learn as much as we can.

I work as a sound mixer for the film and tv industry. A really busy sound mixer works only about half the year or so. So I find myself with a ton of down time that could be spent really getting my hands dirty in real estate. Before moving to California, I was in St Petersburg Florida working as sort of a day laborer for a guy that flipped houses.  I did it for a year or so, but it was a long time ago now. 

Looking forward to it!

 

 Welcome to the site Ryan.

@Ryan Bertolami Congrats on establishing your goal and taking action to make it happen! If you follow "Phoenix" as a keyword on BP, you will get a wealth of information from several perspectives. There is a lot of interest in Phoenix from CA investors so you'll meet others who are accomplishing what you want to achieve. If there is anything I can do to help you on your Journey, let me know.

Melanie

Hello Ryan, 

Welcome to BiggerPockets. It's good to have experience working for a flipper. Nowadays Phoenix, AZ is starting to sound more like a flipping market. Maybe consider that alternative instead. Either way, best of luck on your endeavors. 

Sincerely,

Thanks everyone! I'm sure to have questions moving forward and I hope to contribute along the way as I grow.

@Melanie Johnston - thanks for the tip, I've added some keywords 

@Ricardo Gomez - it does certainly look like that. My goals are definitely to buy and hold, but I'm not opposed to an occasional flip if it makes sense. Maybe couple of flips at the beginning to build some capital while looking in other markets for buy and holds would be a good strategy.  I've got some learning to do.

 

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