All Forum Posts by: Patrick O'Sullivan

Welcome to BP Andrew. Like Jackson said, great to see another person from the greater Phoenix area.

If you love real estate or design, getting a job in those fields won't feel like "employment"; you should enjoy them. Why not look for work in those fields?

Hey @Hamidou Keita

Thanks for sharing this cautionary tale. It’s a tough situation, but it sounds like you handled it as well as anyone could. Kudos for paying with a credit card – that’s a smart move, and it might just be the key to getting your funds back.

For others reading this thread, a few takeaways:

1. Verify Licensing – Always double-check a contractor’s license status with the state’s licensing board (like the AZ ROC in your case) before work begins. Many states have online verification tools for this.

2. Permits Matter – If there’s any doubt about permit requirements, it’s often worth a quick call to your local building department. Even seemingly minor renovations can sometimes require them, depending on the scope.

3. Contract Details – Make sure your contract clearly outlines payment terms tied to project milestones. This can prevent situations where you’ve paid for work that isn’t completed.

4. Dispute Options – As you did, paying with a credit card can provide a critical layer of protection in disputes like this. It’s also a good idea to document all communications and work progress.

Thanks again for the heads-up, and best of luck getting this resolved. You’re helping others avoid similar pitfalls.

Debbie, I've worked with Howard, but he's in Phoenix.

Howard J. Weiss, Esq.

2801 East Camelback Road, Suite 200

Phoenix, Arizona 85016

Tel: 602.813.1493

Email: [email protected]

Website: www.weissaz.com

Well said, @Gannon Coffman — this post really hits home. That progression from broker to fund manager reflects not just career growth, but a mindset shift toward leadership and legacy. I appreciate the reminder that impact and relationships drive long-term success in this space.

Your focus on clarity, consistency, and finding your superpower is especially encouraging for those of us still building momentum. Thanks for sharing your perspective — it’s a great motivation to stay committed to the process and keep leveling up.

Looking forward to seeing more of your insights here on BP!

Hey @Jesse R Wien, thanks for sharing this! That 4-unit sounds like a solid opportunity for someone looking to house hack and get started the right way.

I may actually know someone who's been looking for a multifamily in the Phoenix area and could be a good fit for an FHA deal like this. I'll pass this along and see if they're interested — feel free to keep us updated if the property is still available or goes under contract.

Appreciate you offering to share advice too — it’s always great to see experienced folks helping others get started!

Hey @Kyle C., thanks for your service and congrats on getting your first deal under your belt — sounds like you’re off to a strong start!

You're approaching this with a smart mindset, especially leveraging your VA loan strategically and planning for multiple moves. A few things to consider:

1. Airbnb/STR Remote Management: It’s doable but definitely not passive. Many investors make it work with a solid local team (cleaners, handyman, co-host or PM), but it’s important to run the numbers with all those added costs baked in. Also double-check Glendale's short-term rental regulations — some areas have been tightening up lately.

2. Financing Strategy: Saving your VA entitlement for a higher-cost or more impactful property down the line can be a good move. If you're considering down payment assistance, each program varies — some require you to be a first-time buyer (or not own other property), while others focus on income limits or target areas. You'll want to check the specific rules for the program you're eyeing.

3. Tenant Considerations: Totally respect your desire to keep things fair with your long-term tenant — longevity and reliability can often be more valuable than squeezing out top dollar. Maybe review local market rents and consider a modest increase with plenty of notice, just to keep pace with expenses over time.

Sounds like you’re building a flexible and sustainable plan — keep learning, stay adaptable, and you’ll be in a great position as opportunities come up!

Hi Ivory,

You're definitely thinking along the right lines. As an out-of-state owner, having a reliable team on the ground is essential, and bringing a property manager on board early can be a great way to streamline the process—if they have solid experience overseeing rehabs. Not all do, so it’s worth asking for examples of past projects they've managed and what their communication and update process looks like.

Another option is to hire a dedicated general contractor for the rehab and line up your property manager during or right after that phase. This can sometimes give you more control over the rehab budget and timeline, though it may require more coordination on your part.

Whichever route you choose, clear communication, regular progress updates, and vetting your team thoroughly will go a long way in setting your rental up for success.

Wishing you the best as you get this project across the finish line!

Hi John

Broker here in Arizona. How I'm doing it here is negotiating the listing commission with the Seller upfront. I also let the seller know that Buyer's agents have agreements with their buyers and what fee the Buyer will pay their agent. Event with that in place, an offer is likely to come with a Seller Compensation Agreement that has how much the Seller is to pay the agent. This is now a negotiable item but keep in mind, if you as a Seller offer lower than the agreement between the Buyer and the Buyer's agent, the Buyer is on the hook to pay the difference. This can be hard on some buyers who can't now finance the commission as part of the purchase price.

Hey @Ying Tang, you’re asking all the right questions here—this is a topic that trips up a lot of investors as they scale. It’s great that you’re thinking through financing, insurance, and ownership structure all at once, since they’re so interconnected.

For what it's worth, many investors start in their personal name and gradually move toward LLC ownership as the portfolio grows, especially when it comes to risk management, long-term estate planning, and potential partnership arrangements. That said, the financing side (especially refis and due-on-sale concerns) can definitely get tricky depending on loan type and lender flexibility.

As for insurance, yes—premiums have gone up substantially across many markets, and policies for LLC-owned properties may require a commercial landlord or business-use rider. That doesn't always mean higher premiums, but it does vary by provider and market.

Given how nuanced this stuff can get—and because the “right” answer often depends on your risk tolerance, goals, and how you plan to grow—I’d really recommend speaking with a real estate attorney who understands Arizona law. They can walk you through the trade-offs and help you structure things in a way that supports your long-term strategy.

Looking forward to hearing how your portfolio grows—sounds like you’re laying a strong foundation!