All Forum Posts by: Elizabeth Pruett

Hi Rhyna,

Another Bay Area native here! I recently moved to a small town in Arizona and it's been amazing to see it growing.

I noticed you're more focused on appreciation than cash flow with your investments. Did I understand that correctly?

If so, getting hyper-local with your research is key, no matter which state you choose. Both have advantages and disadvantages.

As someone who thrives on new industries, I love seeing them come to town. Here in the Southwest, agriculture and military are big, but there's a booming manufacturing sector too!

My advice: target towns with average prices that fit your budget and then deep-dive into your research from there.

Good luck with your search!

Hi Michelle! STR and investor in the same town as you. @Logan is correct. DSCR Loan might be an option. My husband and I used to host monthly investor meet ups in town and used to beat ourselves up on this very topic. I have a great DSCR Lender I can connect you with (local guy) helping investors and military grow their portfolios.

Yes! Change the thumbnail…personally I like photo 8.  With the close up shot of the bed and little tray.

i didn’t get to read the description but if you add some lingo for working nurses (you’re close to the hospital) that might help.

We have a little condo close by and added verbiage for traveling nurses and professionals, and that seems to help.  In summer time though, it does get a little slower out here - hope that’s helpful 😊

@Greg R.. I have been convinced that Yuma will boom since I moved here in 2017.  Back in early '17,  I looked into the Yuma Economic Development plans to see what opportunities would be here. To my surprise, there were plans for space ports, the multiversity in downtown Yuma, and the fiber optic network - the town is growing for sure!  They just built several more medical facilities, multiversity area got a huge grant from EPA in early 2022.   If you are on LinkedIn, I would highly recommend following the Yuma Economic Development Corporation

Lots of opportunity ❤️ just put in an offer on a home for my out of state buyers looking to STR and possible mid term rental for medical out here in my neck of the woods. Waiting on offer acceptance now!

Recently helped another buyer with that same goal in mind. He's fixing up the Main house while currently renting out his ADU on Airbnb.

Just wow.  

Hi Sergio, PHX is a super hot market. 

Suppose you are doing the BRRR method, some questions to ask yourself are: what are the comps in the surrounding area? I like to stick to comps less than a mile away or in the same neighborhood. Next question is the location of the property: Since the property you mentioned is a 2 unit, 1b 1ba it may be better suited for a single couple or single person, so try to figure out what is near the location (hospitals, college campuses, shopping, dining, etc), Now that you have figured out the location, look for market value rents in the area - I believe RentOMeter.com will give you some free rent info as a first time user (BiggerPockets Pro has a pretty solid rent calculator, if you ever decide to get your Pro Membership) - once you figure out the rent for each unit, do your due diligence and determine if the numbers work out. Meaning do the rents cover your mortgage and expenses(vacancies, maint., etc), leaving bit of cash flow for ya. Since you are doing an FHA loan, you will only be able to rent out 1 unit (initially), but if you move out in a year or so, you can do it all over again and continue to acquire multi units and house hack em. Hope that was helpful.

Looking forward to learning more about the infinite banking concept.  Thank you for coordinating this event and bringing resources for our investors and military families here in Yuma, Arizona.  

Absolutely @Marylin OShea - hoping to try this strategy again or even help Military turned investors on it.  Are you also licensed in Virginia?

Investment Info:

Townhouse buy & hold investment.

Purchase price: $135,000
Cash invested: $75,000

Originally purchased property for long term renters. We overpaid (uff) or so I originally thought, but after seeing what my first Airbnb was doing we figured we could invest money into remodeling this property (which badly needed it anyway), and rent it out to nurses and other working professionals that travel to Yuma on assignment.

What was the outcome?

This property originally took a loss between July 2021 and February 2022. At this rate, we are hoping to keep a consistent cashflow of $2000 a month (so far we have been booked through March to July 2022, and hope to get more bookings soon).