All Forum Posts by: Josh Young

@Austin Bull I discovered the BP podcast after I had my 1st rental, that's when I really started to learn a lot. The podcast was Brandon Turner and David Greene and they would ask every guest what their favorite book was, Rich Dad Poor Dad was the overwhelming favorite, and it is at the top of my list.  The next book I heard a lot of recommendations for was The Millionaire Real Estate Investor, this book is great for developing a specific plan, he talks about Return on Equity, I wasn't hearing a lot of people or books talk about this, but it really made sense to me and it's one of my favorite measurements today.  

 @Austin Bull Loopholes of Real Estate is a great book on tax strategies. 

@Doug McVinua thanks, and you are spot on with regards to our market, low supply and prices are appreciating, people are moving here and there is a lot of growth happening, as rates starts to drop in next couple years prices will continue to increase.

@Austin Bull remember this, time in the market always beats trying to time the market. Getting started is the most important thing. I’ll shoot you a message, so we can connect.

@Austin Bull

See if you can pick up more overtime at your current job, rather than starting a second job, double your focus and effort where you are and try to get a raise/promotion. As far as trying to qualify for a mortgage, pay off any and all debt if possible. The way DTI is calculated monthly debt payments have twice as much effect as income does.

@Anirudh Reddy

Build equity and then turn it into cash flow later, start here: https://www.biggerpockets.com/...

@Brandon Seider

That is a great idea.  You can teach your son about real estate investing first hand, and he will need a place to live anyways so you might as well own it, you can either sell it after he graduates or keep it as a rental. Tempe (ASU) and the surrounding area has seen tremendous growth and will continue to be in high demand. He will be able to make friends and recruit your tenants while he is in the dorms. College kids can make great tenants, people get nervous thinking they all throw parties and trash properties, but that's just not reality and their parents usually pay their rent.  I'm a rental property investor and a real estate agent, so if you want some help analyzing deals I'd be happy to help.

@Austin Bull

There are a lot of us here that are Investor Friendly Agents in the greater Phoenix metro. I like to always recommend that you choose an agent who is also an investor maybe a few years ahead of where you want to be. I went from renting a room in a house at the start of 2016 to owning over $2M in real estate in under 6 years right here in Gilbert. This market is amazing and there are still great opportunities to buy properties. I’d be happy to talk with you and help you analyze deals, and if I’m your agent that’s great, if not that’s okay too, just make sure you pick an agent who owns rental properties themselves if that’s what you are trying to do.

@Brett Grz

Here are a couple posts that might help you:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

@Pranav Chunduru

I’d be cautious buying too old of a house, as you mentioned maintenance costs can be higher. However, the location of some older houses can be better since a lot of newer developments tend to be on the outskirts/fringe areas. I like to draw the line at 1980 and newer, that tends to cut out major issues like cast iron plumbing, some electrical issues, and lead paint.

 Do you also own the land that it sits on or do you pay lot rent? And is it single wide or double wide?