New to Real Estate · Phoenix, AZ · Member since 2021 · 3 posts · 2 votes
Hello All,
My name is Jess. I grew up with a parent that created a passive income with residential rental properties so it was only a matter of time that I jumped in myself!
I have been wanting to get started on my own real estate investments for a while now. I currently own my home that I will eventually turn into a rental and hopefully use the equity to start purchasing duplex/triplex/fourplex properties in Maricopa County.
2-year goal - Own a triplex/fourplex with all but one unit occupied and house hack. Complete 1 house flip. Rent out current home.
5-year goal - Rent out all units/homes owned. Complete 3 house flips. Create 5K monthly passive income.
10-year goal - Complete 4 house flips a year. Create 15K monthly passive income.
I am currently working full-time in marketing but would love to eventually be able to quit to focus on more real estate opportunities in Arizona and other states down the road. I have already learned so much on here and can't wait to get started and put it all into action!
Investor · Mesa, AZ · Member since 2020 · 32 posts · 27 votes
5y
Cap rates in Phoenix are uncomfortably low in my opinion, especially on 4-plexes. I was competing on a few listings, but kept getting outbid. I analyzed about 100 and made offers on 3. My bids were so low I didn't even get responses. I just went into contract on a multifamily lot in Apache Junction and will attempt build-to-rent.
Find problems that everyone else is avoiding, and solve them.
Flipper/Rehabber · Phoenix, AZ · Member since 2016 · 254 posts · 100 votes
5y
@Jessica Downs Welcome to BP! Always good to see other investors in the Phoenix area.
There are a ton of meetups happening all around Phoenix. Check out the events page on BP to start. Shoot me a message and I can tell you about others that aren't posted here. Look forward to seeing out there networking!
Investor · Mesa, AZ · Member since 2020 · 32 posts · 27 votes
5y
Cap rates in Phoenix are uncomfortably low in my opinion, especially on 4-plexes. I was competing on a few listings, but kept getting outbid. I analyzed about 100 and made offers on 3. My bids were so low I didn't even get responses. I just went into contract on a multifamily lot in Apache Junction and will attempt build-to-rent.
Find problems that everyone else is avoiding, and solve them.