All Forum Posts by: Allie Pfannenstiel

Join the Scottsdale Real Estate Meetup Group for an informative workshop on real estate investing strategies that can help you achieve financial freedom. Whether you are a novice or experienced investor, this event will cover topics on how to identify your ideal house hack to scale to the portfolio of your dreams. Learn from seasoned professionals in the field and connect with like-minded individuals who are passionate about building wealth through real estate. Don't miss this opportunity to expand your knowledge and take your real estate investing journey to the next level!

Whether you want to buy in phoenix, chandler, mesa, tempe, scottsdale, fountain hills, glendale, peoria, apache junction, san tan valley, el mirage, buckeye, tolleson, goodyear, and surrounding areas...house hacking can and does work!!

Light breakfast foods provided :)

 Bre, have you every played Robert Kiyosaki's cash flow game? I think it is such a great way to start understanding investing and whether or not you are ready to sell an asset and buy a big deal or more small deals to further your goals. 
 

Hey Anna,

Interest rates are really fudging up cash flow on properties here in the valley. I have seen a few deals with a small amount of cash flow, but not enough that would make me write a check. House hacking seems the best way to go currently in this market. Unless you are able to assume another sellers low interest loan or get some sort of creative financing done to make a deal.  

@Pedro Huichapa

Hi Pedro!

Congrats on your sabbatical. Some of my questions to you are:

How much income are you looking to replace as your primary source of income?
Whats your aversion to financial risk?
How much involvement do you want in these properties?
Do you want to take on renovations or does it need to be turn key?

Some of these questions will help determine the number of properties that you get, the asset class you invest in, whether you join another investor's syndicate or keep full control and responsibility in your investment. 

Id love to help guide you after getting to know more in depth some of these crucial questions.

We do both residential and commercial real estate at my brokerage so you can take your time and explore the best of both worlds.

Hi there @Carson Bode

Here is one of my rentals! 

https://www.zillow.com/homedet...

If you need help finding a rental and that one doesn't work, please reach out and my team can help you!

Hi @Kyle Janes!

An FHA loan is not just for first time home buyers, they are just popular with first time home buyers because they will allow a 3.5% down payment and have more flexible lending requirements when it comes to credit scores and debt to income ratio. Also you can put as little down as 3% with a conventional loan. I would chat with a lender to compare which program is right for you as far as interest rates, fees, and monthly payments.

That being said, you are allowed to buy a house and live in it for one year and then buy another house the following year and will be able to leverage another low down payment loan program since it would be your primary home. 

This is definitely one of my favorite ways to recommend new clients to build wealth through real estate. The biggest question is "in one year when i go to rent my first home, will the rental income exceed the mortgage, taxes, insurance, and interest payment as well as cover maintenance, property management, capex, and vacancy costs or will I need to come out of pocket to cover those expenses?"

That may determine wether you wait one year to buy your second house hack or wait longer. 

Looking back, this was a piece of pie for you guys!

 Hi Jordan,

Most small multi family homes were built in the 1950s and are in the older parts of Arizona. you will find them in Phoenix, Mesa, Glendale, Scottsdale areas mostly. Most are in not so great neighborhoods. 85032, 85022  might be a decent zip code to look in that might blend both affordability and ok neighborhood. Tempe has some too that wouldn't be so bad to live in. 

 Hi Zachary! 

Setting budget is great but tracking it daily on an app like mint or every dollar to help you see where you are going over is going to be best. You can also print off your bank statements and card statements and add it all up yourself to see where is eating up your budget.

$550/mo for a family of 4 for groceries sounds low to me unless you are eating meatless spaghetti and pb&j sandwiches for every meal. Diapers, laundry detergent, toilet paper, paper towels, etc can take a huge portion right out of the gate. 

Gas may be more expensive if it is budgeting for 2 people driving, depending on how often you drive. 

You bet! Reach out if you ever need any other help!