All Forum Posts by: Andrew McGuire

This months meetup will feature Ben Leybovich who has been featured on several Bigger Pockets Podcast including Episodes 61, 152 and 383. He will be covering the Mechanics of Wealth, Success and Happiness. 

@Vishu Dasari

Meet my guy @Jeremy Bottlinger

@Scott Davidson

Find an agent that is an investor in the market you are looking and also understands how to analyze #'s and has a team to make it as seamless as possible for you (handyman, property manager, contractor etc.) You also need an agent who is persistent enough to stay in touch with Listing agents even when your offer is not accepted, so many deals are going under contract and falling out a few days later. The one who keeps showing up I've seen is next in line. Somone who also has pocket listings and off market deals will also be huge. Stay in the pocket you got this.

@Michael-Martin Moreno

1 step at a time, in other words no need to try to get the whole 3500 right away. Start with $500/month and then a $1k/month and so on. Not knowing your work and living situation I would recommend finding a fixer in a decent area that you could house hack, once you've improved and know how much cashflow you would make if you moved out and did the same step again and again until you have a handful of rentals producing at or better than your original target. By then the path will become clearer. Just get going, you got this!

I have this same question @Bonnie Lou Senftner

@Bei He

@Jeremy Bottlinger can help you with that. Also I have an appraiser on my team, that would be a good question for him, I will asks now and get back with you. 

-Andrew 

@Andrew Daughtery

Congrats, I really like Glendale right now. I've got every trick in the book lol. My favorite is accidently messaging the guest after they checked out and pretending I meant to leave a review. Of course I am saying all kinds of nice things about them, then I apologize for the "mistake". They almost always reciprocate with a 5star review. Cheers, Andrew 

@Balachandar Duraiswamy

I just had a client form Seattle do a 1031 had 250K he had to spend, he bought 1 SFH new construction as a "2nd home" in Casa Grande. The house cost 405K is a 4/3 and traditional rents will be 2100/mo. His payment will be under 1K/month all in so he will cashflow, a poor CoC return here but he doesn't care, he is doing it for the long term outlook of Casa Grande. We are going to manage as Traveling nurses first since it is a 4/3 (good BR to Bath ratio) and 2nd garage. We did our diligence on HOA and everything checks out, he is going to cashflow 2K/month conservatively if he continues to manage that way.

@Alessandra Verbena

You have to take in account that Phoenix metro is 3-4 times larger than Sacramento metro, I didn't do any research but if I had to guess. I personally think many investors are getting into risky mid grade and Luxury AirBnb's, I believe you should only enter that space if you can make a large down payment and have really nice cashflow in other areas. If that's the case than the upside can be very lucrative. On the other hand most of my clients don't have millions stashed away and 10's of thousand s of monthly cashflow yet, what I am telling them is buy something you like in a good area and make a large down payment, let's run the #'s so if Airbnb goes to hell in a handbasket we can cover or be close to a 1:1 DSCR. That is one of the key metrics I'm using when evaluating deals right now. Good luck

@Gayan Premachandra

Welcome to Phoenix. You should follow Glen Sutherland's podcast "A Canadian Investing In the US". Now I know you are here now but he has a ton of great advice for lending, taxes etc. for Canadians buying RE in the US. I recorded with him a few weeks ago as I beginning to work with a lot of Canadian investors here in AZ. Good luck!