Looking to buy first CASH FLOW rental in Phoenix, AZ.

Member since 2022 · 1 post · 0 votes

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!

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Allie PfannenstielPro Member
Real Estate Agent · Scottsdale, AZ · Member since 2017 · 159 posts · 59 votes
4y
Quote from @Zhengxi Tan:

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!
Hi Zhengxi,

It is still possible to find cash flowing properties. The best deals come from off market but I have helped dozens of clients find both on market and off market investment opportunities this year that cash flow. It is more difficult with the higher interest rates and prices but things are cooling down and giving more opportunities for sellers to provide credits for closing costs for interest rate buy downs, making deal a bit sweeter.

I would be happy to jump on a phone call with you and discuss!

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Shiloh LundahlPro Member
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
4y
@Zhengxi Tan Yes you can still find cash-flowing properties in Arizona. We have probably bought 10 properties so far in Arizona this year and they are all cash-flowing or will be once we are finished with the rehab and getting them set up.
480-206-1209 Podcast Guest on Show #287
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Chad McMahan
Residential Real Estate Broker · Sedona, AZ · Member since 2017 · 754 posts · 504 votes
4y
Quote from @Zhengxi Tan:

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!
100% of my clients that have taken my guidance on remodel and furnishing, are getting 20% - 40% cash on cash returns. There are 2 properties in my market right now, that easily will break 20%. Typically, we blow the 1% rule out of the water.
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Susan ThelenBusiness Member
Real Estate Agent · Mesa, AZ · Member since 2020 · 91 posts · 39 votes
4y
Hi Zhengxi Tan, yes it is possible to find deals here in AZ. I have found quite a bit for my investor clients over the past few years. Let me know if you have any questions.
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Account Closed
Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
4y
Quote from @Chad McMahan:

Quote from @Zhengxi Tan:

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!
100% of my clients that have taken my guidance on remodel and furnishing, are getting 20% - 40% cash on cash returns. There are 2 properties in my market right now, that easily will break 20%. Typically, we blow the 1% rule out of the water.
@Chad McMahan: How restrictive is Sedona these days for STR?

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Chad McMahan
Residential Real Estate Broker · Sedona, AZ · Member since 2017 · 754 posts · 504 votes
4y
Quote from @Zhengxi Tan:

I'm looking to buy my first rental property. A positive cash flow is the single most important thing I'm looking for. Phoenix and other parts of Arizona catch my attention given the good population/job growth. But the housing price has risen so much in the last few years and many people said it's really hard to find cash flow in Phoenix nowadays. Is this still achievable? If so, where should I start? Btw, if you are an agent, or know someone who can help me find a property with cash flow in AZ, please let me know!!!

Hi Zhengxi.
Just be careful, when it comes to settling. It's amazing how often I get clients that call me asking for something that just positive cash flows. Then I set them up with something that gets 20%-35% cash on cash.
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