All Forum Posts by: Mason Weiss

Hey Andrew, I understand that new excitement about multi family investing as I was there a few years ago as well. However, evaluate your current living situation and see if live and flip or house hacking is a better way for you to get your foot in the door and build confidence. 

Don't be afraid to hit a single before you swing for the fences. 

Hey Faraz, welcome to RE investing. Often newcomers want to jump straight into multi-family which is a big leap for a first time investor. Sometimes it can be more advantageous to jump into single family investing or house hacking as you can leverage your current living situation for your first few deals.

A lot of factors at play but the deal does sound promising. Find 1-2 people you trust through Bigger Pockets to bounce specifics off of so you do not get overwhelmed with information from everyone.

Calculate your monthly payment and then additional expenses such as vacancy, cap ex, and property management if needed. Then look at rental comps for similar units in the area to determine your market rent. If those numbers look promising with your specific risk tolerance, than you potentially have a good deal.

I understand the sentiment but I agree the numbers are a little high. Regardless, you want to invest with someone who has skin in the game. I think risk tolerance and quality of deal will be the other important factors to consider with any syndication. 

Make sure the duplex is properly permitted and zoned. You never know how the original construction was done.

Leases and security deposits will transfer to you at closing. Make sure you have a good understanding of the current lease structure for your tenants and how/when you can change them.

Hi @MiChelle Murdock, with potential heavy STR regulations coming to Scottsdale, plus over saturation of short term rentals, I would focus on Tempe. Gilbert and Chandler are decent investment areas but still highly suburban and more geared towards mid term and long term renters. If you don't want to wait five years to start generating extra income, I would want to be close to Tempe where renters can easily visit Scottsdale and Phoenix and you would have the largest potential renter pool.

I own a short term rental company and just helped someone find a new short term rental two weeks ago here in Arizona. If you want to talk further let me know!

Working with multiple investors looking at new builds right now for the closing incentives and warranties. Meritage Homes in San Tan Valley (North side of the city) is offering 6% which makes the numbers start to look promising for an investment perspective. 

Down side to new construction is there is hardly any negotiation. You pay the sticker price and that's final. 

Hey Courtney, definitely submit to various insurance company websites but I have seen them frequently reach out directly through a Zillow listing. Make sure your listing is clearly labeled as furnished and available for several months as most insurance companies want a 3-6 month availability.