All Forum Posts by: Allie Pfannenstiel

@Pedro Gutierrez

Especially right now interest rates are high to do a cash out refi or to take a line of credit. I also think that people who don't have their own savings to invest in the next property tend to become over leveraged and that is a risk I don't recommend.

Also I think you can find a renter in any area since not everyone can afford to buy. Here are some closed rentals in the last 90 days.

https://www.flexmls.com/share/...

https://www.oldtownrental.com/

https://casago.com/phoenix/pro...

Hi Ben!

I would love to chat with you on the phone about your options! My twin sister lives in Chandler and travels for 6 months of the year and locks her master bedroom up as well and rents out the place while she is gone. She self manages with the help of a cleaner and landscaper or you can get a property manager. I know a few short term rental property managers you could interview to tell you about their fees and also potential profits.

I also have a client who bought a 5 bedroom home near downtown Gilbert last year and house hacks all the bedrooms. There is a sight called roomies.com that you can find roommates to fill it or also a facebook page for traveling nurses coming for 1-3 month stays. 

My husband and I went to Europe for 2 months this summer and did the same thing with our house in Scottsdale.

I think it is just super important to look at the numbers and your situation to help you form a plan that is both profitable and convenient for you.

Yes! I once had a meth head break in and demolish everything in the house and break water lines. After that we had a local security company to set up monitoring month to month on all windows and doors. It would scream bloody murder and call the police. Signage of course helps to saying the place is monitored.

Hi @Pedro Gutierrez

First off feel free to call me and discuss if you would like. It is hard to be a good advocate for your situation without knowing all of the details. I am a huge fan of building wealth through real estate and prefer a more conservative approach.  Homeownership can be a huge blessing or a huge burden, depending on if you jump into it without being financially ready. 

Are you financially ready for a 2nd property? 

1. Do you have a detailed budget and know how much money you make, save, and spend each month?
2. Have you paid off all your consumer debt?
3. Do you have 3 to 6 months of expenses saved up?
4. Can you afford a down payment on the next property? You mentioned taking out a heloc...I prefer not taking out money from a primary residence. However, if you do....what are the terms of repayment and is it something you can afford if crap hits the fan

If you are confident about those financial pieces then you can start with reaching out to realtors in the midwest. I am able to rent all my properties with in a week in Arizona so I think its best to find a property you like best then rent yours in Arizona. However, It may be best to sell your place here in Arizona and buy a duplex to fourplex in the midwest if you really want to move to a cooler state and get some more doors in your portfolio. 

Consider getting a used one? I have a guy here in AZ who has given us great deals on used ones the last 5 years and they have worked great!

Hi Scott!

I may be able to help out if the deal is right :)

Also, there are some hard money programs and even conventional programs that will extend renovation costs. Feel free to reach out and explore your options.

I use Anderson Advisors to help with tax and asset protection, book keeping, and estate planning. It might help if you find a company like this to help you streamline everything. Reach out and see if they would be a good fit for you :)

 Definitely a heated pool, hot tub or swim spa! The 4th bedroom is definitely nice though too. 

 100k is a great start! I have 2 sets of clients who have invested here in Arizona that are from Hawaii. The first set of clients bought a rental property out here and saw the property in person. The second set bought a property without seeing it.

I have many out of state clients that will fly out to see the property once they go under contract and I have many who trust my track record to find them a property that fits their needs and to get quality professionals to do inspections and repairs, and refer rental property managers, etc.

I have clients who have purchased new builds and done really well! I also have clients who have bought old properties and have done really well. It truly is up to your goals and preferences.