New investor looking to pick someone’s brain

2 Replies

Back story, My wife and I moved from Omaha to Phoenix for Work 7 years ago. 6 years ago we bought our house in Phoenix for $157,000. I got another job opportunity in Omaha and we moved back. Before we moved, we toyed with the idea of keeping our Phoenix house as a rental, but ultimately decided to sell it, netting a little over $70,000. We have used some of that money to pay off student loans, and other debt. We were going to use the remaining to reamortize our loan. When we looked into it, the $30-40k that we were going to apply to it would only decrease the payment by a couple hundred dollars a month. So instead we are looking to buy a rental property, and I’m looking to make a few contacts to help us start investing into rental properties locally and answer some questions. -Tony

@Tony Cimino Biggerpockets is definitely the right place to get started. Have you thought through some of your criteria, such as single or multi, self mgmt or professional, location? Feel free to PM me. I also run a local meetup so feel free to send me your email and ph # so I can include you on the next invite.

looking at single family homes in the Aksarben/Midtown/Benson area with 3 bedrooms, at or below 140K, often times less.

I am also checking out rental sites to determine price of rent and have found that a 3 bedroom in those areas rent for 1200-1500.  Which would be a greater return rather an buying a 200K turn key house in Millard which would rent for the same, but mortgage would be more, thus eating into profits.

I’m looking for properties that have a higher % of return, and believe that focusing on young professionals, and med students would be a good market to get into.

I’d love to be added to the meet up!  PM sent!

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