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All Forum Posts by: Noah Corwick

Noah Corwick has started 7 posts and replied 218 times.

Post: MTR near Surprise, Arizona

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101
Quote from @Sarah Cross:

Thanks for responding - after much research, we bought into the hype of the growing valley to fuel our rental plans, plus the White Tank Mtns to hike and amenities nearby that we enjoy as well. I know it will appreciate and hopefully cash flow if only a little for now until rates drop again. 


 Congratulations Sarah! I'd love to stay in contact and learn how it goes. 

Post: MTR near Surprise, Arizona

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Hi Sarah, 

I honestly have not purchased a rental in Surprise yet (though I want to at some point). 

But in my opinion, Surprise is an appreciation play. If you believe the hype surrounding it: the affordable new construction being worked on, the expansion of the 303, the large corporations opening up facilitates bringing in a ton of jobs, etc., then it could be a smart move. 

I personally feel you that if you believe in Phoenix's expansion, buy now and reap the potentially great rewards 5-15 years from now. Basically I wouldn't go into it at this exact moment in time as a cash flow play. Obviously I'm sure you can find deals that indeed cashflow, but Surprise smells of appreciation to me. 

Best of luck with your rental! 

Post: Quickbooks Desktop discontinued

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Intuit loves to hide their desktop options and makes you work really hard to find them. When you go to their website and call their sales line, you'd swear the desktop option is extinct. However, this is not the case.

QuickBooks Pro is essentially gone, but QuickBooks Enterprise Desktop is not going away anytime soon. Premier is nearing its lifecycle though. There are also company's who are able to affordably host it in the Cloud so that you get the benefit of secure, easy, anywhere access. 

QuickBooks Online is a water down version of QBD, and has very limited features and functionality. Ask most CPAs or Accountants about QBO, it's always an entertaining conversation. 

I work with an amazing QB consultant and reseller, who I'd be more than happy to introduce you to. 

Post: New bee to the real estate world!

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Hi Veronika!

The Phoenix market is an interesting one, and knowing which strategy you want to research, gain confidence in and eventually venture towards is key. 

Is there a particular strategy that piques your interest the most? 

Post: I'm confusing myself regarding Lease Options. Help!

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101
Quote from @Don Konipol:
Quote from @Gavin Rein:

I'm reading Brandon Turner's Investing in RE with Low Money Down and I can't wrap my head around what a "Lease Option" represents. 

I understand that a lessee is paying rent + an option fee to live in the house while they get their credit/finances in order to eventually purchase the house within the duration of the lease option. But things start throwing me off once we start talking about the lessee turning the house into an Airbnb, renting rooms out, etc. 


Say I am leasing my house out to Bob. I've done my research and trust him to be a good lessee and not do anything crazy in the house during the time he's there. However, Bob could theoretically rent out the house to a drug lord who does all of his crack/cocaine operations out of the house. Eventually, the lease option expires and Bob decided not to go through with purchasing the house and parts ways. I then go to the property to check it out and I find tons of damage, drugs, bullet shells, cigarettes, stained carpets, weird smells, etc. I contact Bob and ask him what happened and he tells me he rented it out to some crack dealer that I had no idea about/would not have let into my house.


How does Bob have the authority as a lessee to take a lease on my house, rent it out to somebody without running it by me (especially if it's somebody I would disapprove of), and then just leave once the lease option expires? I understand that he'll most likely pay for all of the damage, but the very idea of a lessee having the authority to just rent the house to anybody without my approval seems crazy. Is there something I'm not understanding in terms of liability? 

A lease is a contract. You can insert a clause in the lease prohibiting the tenant from subleasing the property or prohibit him from subleasing without landlord approval.  The terms of the agreement are dictated by (1) the lease and (2) applicable real estate and commercial laws and regulations. 

Don is right on the money here. You would need to make sure everything you feel is most important to protect yourself from this scenario is in the initial contract. The more details, the better!

Post: Hi All! New BP Investor & Agent Here!

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101
Quote from @Dmitriy Fomichenko:

Welcome to the BP community @Noah Corwick ! It's great to have you here!

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...

Good luck on everything!

Thank you Dmitriy! That is a great tip and I will be sure to set this up. 

Post: Hi All! New BP Investor & Agent Here!

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101
Quote from @Andrew Syrios:

Welcome to BiggerPockets Noah!


 Thanks Andrew! I appreciate it. 

Post: Hi All! New BP Investor & Agent Here!

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Hi all!

I have been an avid Bigger Pockets listener and fan for over 3 years and finally wanted to introduce myself. I am a real estate investor and licensed realtor focusing on north Phoenix, Cave Creek and Scottsdale, Arizona.

My origin story for getting into real estate was super accidental. One day my best friend asked if I could qualify for a house mortgage because his credit wasn’t great. The arrangement was that if I mortgaged the home, he would fix and flip the house. As scared and anxious as I was, I agreed.

Fast forwarding, I ended up doing a whole lot more than just getting us the mortgage for the flip. We ended up sharing 50/50 responsibilities for working the entire project including structuring the deals, funding, designing, bookkeeping, and overall project management.

Because of the difficulties we faced with our realtor when it was time to sell, I made the conscious decision to get my real estate license and vowed to never go through the frustrations, headaches and money left on the table that we encountered. Since I have over 8 years of sales experience working my 9-5 job and had learned how real estate transactions worked and are structured, why couldn't I just do the agent work myself?

Today I am thankful in saying that I am my own agent in any and all projects I take on. This includes my own investments, but also helping anyone looking to buy/sell a home. There are a lot of lousy agents out there that aren’t concerned with their clients' best interests. I would like to change that narrative and ensure people don’t have to go through some of the pitfalls that I encountered.

My latest investment venture is a house hack that I intend to use as my first long term rental. Between working as a real estate agent and my own investments (mix of rentals and flips), my overall goal is to make real estate my sole focus professionally within 2 years.

Looking forward to connecting with you all! 

Post: beginner real estate investor

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Hey Phillip,

Great to meet you! As Susan suggested, I believe networking with real estate investors and partnering with them on hard money deals might be an ideal fit with your work schedule. 

Another possible route is to find a rental property and hire a property manager to mange it for you. In this scenario, most of your work is done upfront, while the property management company handles the day to day. If you work with an investor-minded agent, they can do the legwork on a lot of the research to find potential properties as well. 

Good luck with your ventures! 
 

Post: What kind of music do you have in your office?

Noah Corwick
Posted
  • Realtor
  • Phoenix, AZ
  • Posts 221
  • Votes 101

Lo-fi is my jam! Perfect for background music for concentration, learning and relaxation (if it's been a stressful day).