All Forum Posts by: Kelsy White

Curious for your thoughts, do you think a long term buy-and-hold strategy in Casa Grande and Maricopa are worth it? Seems like those would be the areas to experience overflow if Tucson and Phoenix continue to expand.

@Ronald Russell Thank you for the helpful thread!

@Tim Herman thank you for breaking down the calculations! I see what you're saying about not being able to tell until you run the actual numbers, I will keep that in mind.@Chris Mason Interesting, thank you for breaking that down as well! I didn't know you could refinance to knock off the mortgage insurance. Learning something new everyday, thank you!

@Anthony W. I was not aware of the MIP, so I'm glad I asked! I've heard a few real estate investors mention using the FHA loan to start out, but I don't recall them mentioning MIP. I'll need to factor that in and maybe rethink my plan a little bit - thanks for your help!

Hello BP Community,

We are planning on purchasing a duplex to live in one of the units and rent out the other. I mentioned using a FHA loan and only putting down 3 1/2% so we could use the rest of the money we have saved to go towards purchasing another rental property. However, we've been going back and forth about whether we should put more than 3 1/2% down to lower the monthly payments and interest.

What are your thoughts? Is it a poor strategy to only put 3 1/2% down?

@Melanie Johnston thank you! Yes, I did seem to find the silver lining. I'm really glad I moved to the Phoenix area, so much to do and see, plus I don't have to deal with snow and ice in the winter :) And definitely, I'd love to connect one of these days!

@Basit Siddiqi thank you! Yes, the busy season hours were grueling and gave me no free time to do the things I enjoy. It was a great experience, but I'm glad I made the move and have some time to start focusing on real estate investing!

@Account Closed thank you for the recommendations! Building Wealth One House at a Time is actually what I'm reading right now, so far it's been the best one I've read!

@Stone Jin Thank you! I've actually been contemplating that for a little while after looking at the housing prices in the Phoenix area. It seems like it would be easier to find cash flowing property in Toledo (I'm extremely new to this, so I could be completely wrong). I'm just a little hesitant investing out of state, especially starting off, but I will definitely keep looking into it!

Hello BiggerPockets!

I recently moved to Scottsdale, AZ from Toledo, OH and am looking to get started in real estate investing by house hacking. I currently rent, but plan on purchasing a duplex or triplex next year.

A little about me - I was an auditor for a CPA firm for almost three years, which consisted of working many late nights and weekends, until I suffered through an unexpected health issue and realized I didn't want to work my life away. In March, I accepted a job offer as a Senior Analyst and Accountant in Phoenix, AZ, where I now work a normal 8-5 and can concentrate on studying real estate investing in my spare time.

My long-term goal with real estate investing is to acquire buy and hold rentals that generate enough monthly income for me to be financially free. My short-term goal for this year is to pay off my car in the next 4 months, continue to read and listen to anything real estate investing related and get involved in my local REIA.

I'm looking forward to connecting with the BP Community, and would love to meet any who are in the Phoenix area!