Handyman looking to get started as an investor in PHX, AZ

Handyman looking to get started as an investor in PHX, AZ

Handyman · Phoenix, AZ · Member since 2015 · 2 posts · 3 votes

Hi! I'm Ben. I'm a bit of a nomad; living in a van and traveling for most of the past few years. Since I'll be having my first kid this summer (yay!) I've been looking at the world a bit differently and I'm now in search of the right real estate deal(s) for my situation here in Phoenix, AZ. I've been a longtime lurker and fringe real estate investor who sees great value and positivity in the Bigger Pockets community but, for whatever reason, have resisted truly jumping into the forums/community until now. Regardless, I already feel I've seen the benefits here from following along and look forward to gaining even more insight by becoming an active participant.

Here's a little bit about me. I have an education in mathematics and stats that turned into a successful career as a software developer. Overtime, I grew tired of that lifestyle and decided to focus more on travel and home renovations. After quitting my last software gig, I quickly wrapped up renovations on my row home in South Philadelphia and proudly sold my home (by owner) in less than a week after listing so that I could begin traveling the globe for a bit. I've lived in Colombia, Vietnam, India, Europe, Guatemala, Bolivia and visited many more amazing places along the way. Last year, I decided to come back to Arizona to be closer to my family but settled on converting a cargo van into a tiny mobile home for myself to still satisfy my urge for freedom and the open road. I've been working on a modest business as a Handyman over that time as well and truly enjoying the challenges and learning opportunities that come with the work and setting up a new business.

Why am I here? Well, I want to network and learn from all the savvy investors, builders, and hard-workers I've seen here. I want to build wealth for myself and my (soon-to-be-born) child so that I can provide a comfortable, stable, and secure lifestyle for us both in the future (which hopefully includes a lot more traveling again one day). I've been watching/researching the Phoenix market for awhile now and feel this could be a great time of opportunity for us all with all the uncertainty going on in the world.

Wholesale deals. I would love to connect with wholesalers that can help me find a worthwhile deal so I can get started in my area. I have some cash reserves available and have been talking with lenders about my potential options for financing available. Here's my rough criteria:

  • [criteria removed...]
  • I just tried to post my topic and learned that asking for deals is frowned upon. I decided to remove the criteria on deals I'm looking for and hope the rest of the post is acceptable as a solid introduction. My goal here is learn, share and connect with good people; nothing more. Thanks for your understanding!

I'm looking for something to get me started as an investor/rehabber. Ideally, I'd find the right property for me that I can buy, fix-up, and either rent out or AirBnb when I'm not with my child. This would be an ongoing strategy for me to utilize house hacking and BRRRR strategies to build my wealth. My goal is to reduce my workload overtime so that I will be able to provide more time and attention for my child as it grows.

Wrapping up. Additionally, if you'd just like to network, get to know me, chat about real estate, life, investing, or any of our shared interests, please reach out! Let's grab a virtual coffee or whatever. And finally, a shameless plug, if you're in need of a handyman in the South Scottsdale or Central Phoenix area I'm here to help. My company name is Humble Builders. Thank you very much for reading my post. I wish you all the very best and hope we can all find some positivity each day during these trying times.

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    • Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
      6y

      Welcome Ben! I don't have much value to provide here, other than I saw you were in South Philly (as am I) and surprised (but also not surprised) you moved to AZ. :D

      Good luck to you out in AZ. My father retired there several years ago, golfs every morning, drives for Uber, loves his life (I think)!

    • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
      6y
      Originally posted by @Benjamin Petersen:

      Hi! I'm Ben. I'm a bit of a nomad; living in a van and traveling for most of the past few years. Since I'll be having my first kid this summer (yay!) I've been looking at the world a bit differently and I'm now in search of the right real estate deal(s) for my situation here in Phoenix, AZ. I've been a longtime lurker and fringe real estate investor who sees great value and positivity in the Bigger Pockets community but, for whatever reason, have resisted truly jumping into the forums/community until now. Regardless, I already feel I've seen the benefits here from following along and look forward to gaining even more insight by becoming an active participant.

      Here's a little bit about me. I have an education in mathematics and stats that turned into a successful career as a software developer. Overtime, I grew tired of that lifestyle and decided to focus more on travel and home renovations. After quitting my last software gig, I quickly wrapped up renovations on my row home in South Philadelphia and proudly sold my home (by owner) in less than a week after listing so that I could begin traveling the globe for a bit. I've lived in Colombia, Vietnam, India, Europe, Guatemala, Bolivia and visited many more amazing places along the way. Last year, I decided to come back to Arizona to be closer to my family but settled on converting a cargo van into a tiny mobile home for myself to still satisfy my urge for freedom and the open road. I've been working on a modest business as a Handyman over that time as well and truly enjoying the challenges and learning opportunities that come with the work and setting up a new business.

      Why am I here? Well, I want to network and learn from all the savvy investors, builders, and hard-workers I've seen here. I want to build wealth for myself and my (soon-to-be-born) child so that I can provide a comfortable, stable, and secure lifestyle for us both in the future (which hopefully includes a lot more traveling again one day). I've been watching/researching the Phoenix market for awhile now and feel this could be a great time of opportunity for us all with all the uncertainty going on in the world.

      Wholesale deals. I would love to connect with wholesalers that can help me find a worthwhile deal so I can get started in my area. I have some cash reserves available and have been talking with lenders about my potential options for financing available. Here's my rough criteria:

      • [criteria removed...]
      • I just tried to post my topic and learned that asking for deals is frowned upon. I decided to remove the criteria on deals I'm looking for and hope the rest of the post is acceptable as a solid introduction. My goal here is learn, share and connect with good people; nothing more. Thanks for your understanding!

      I'm looking for something to get me started as an investor/rehabber. Ideally, I'd find the right property for me that I can buy, fix-up, and either rent out or AirBnb when I'm not with my child. This would be an ongoing strategy for me to utilize house hacking and BRRRR strategies to build my wealth. My goal is to reduce my workload overtime so that I will be able to provide more time and attention for my child as it grows.

      Wrapping up. Additionally, if you'd just like to network, get to know me, chat about real estate, life, investing, or any of our shared interests, please reach out! Let's grab a virtual coffee or whatever. And finally, a shameless plug, if you're in need of a handyman in the South Scottsdale or Central Phoenix area I'm here to help. My company name is Humble Builders. Thank you very much for reading my post. I wish you all the very best and hope we can all find some positivity each day during these trying times.

         Welcome to the site Ben.

      1. Handyman · Phoenix, AZ · Member since 2015 · 2 posts · 3 votes
        6y
        Originally posted by @Joe P.:

        Welcome Ben! I don't have much value to provide here, other than I saw you were in South Philly (as am I) and surprised (but also not surprised) you moved to AZ. :D

        Good luck to you out in AZ. My father retired there several years ago, golfs every morning, drives for Uber, loves his life (I think)!

        Thanks Joe! I loved Philly while I was there. I was actually working at a fin-tech start-up focused on managing Hard Money Lending portfolios and enjoyed being connected to the real estate world while there. Ultimately, the company didn't make it and I eventually decided to come back out west for warmer weather and, mainly, the proximity to family (can't beat that). Regardless, Philly will always be a special place to me (GO Eagles!). Thanks for reaching out! Best of luck to you.

      2. Member since 2020 · 28 posts · 4 votes
        6y

        Hi Ben. I just joined a couple days looking for other investor's thoughts mostly about properties in the East Valley. I have a terrific realtor and just closed on our 4th place a couple days ago and hope to have it filled by May 1st. I pretty much buy properties that are mostly ready to rent but of course there are always things that need to be taken care of. I can thankfully say that getting into that market has been a life changer for me and honestly I was a couple years late. I guess other than that just curious what other people's thoughts are on what you are trying to do and with the current climate if anyone is nervous and rethinking investing in the greater Phoenix area. I can connect you to my realtor but it looks like there are some good contacts that have already responded. Good luck!

      3. Real Estate Agent · Phoenix, AZ · Member since 2012 · 640 posts · 457 votes
        6y

        @Benjamin Petersen I'll keep your info as I'm always in need of another handyman!

        Regarding wholesale deals....make sure you understand all of the risks before thinking that's the only way to get started.

        1) Wholesale deals are always cash or hard money only. 

        2) Wholesale deals require "hard" aka non-refundable earnest money to lock down the contract. Can you afford to lose $5k-$10k if you decide to walk away from the contract? 

        3) The inspections are usually more limited, and you don't have all of the normal buyer protections found in in the AAR Purchase Contract. 

        4) You don't get all the same seller disclosures as with a typical purchase transaction. The properties are sold as-is, where-is, and it's up to the buyer to do all of their own due diligence. 

        I've received (no joke) probably 30+ wholesale deals in my inbox today alone. Wholesaling has picked up as the iBuyers (opendoor, offerpad, zillow, etc) have halted buying entirely. Sellers are also looking for a quick sale if they're getting pinched elsewhere due to covid fallout. 

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