Phoenix: first investment and learning the market

[Tamara Rodenbeck]

Hi bp community! 

Will be moving to Phoenix area in a year(ish) and intending for that to be our first investment locale. Our plan is to house hack with a single family home and casita using airbnb, which will then free up cash to purchase a small multi-family and start the ball rolling using the BRRR method.

A few questions for you folks: 

1) how does our plan sound?

2) what are the general vibes of the various neighborhoods? Phoenix is huge! and while currently long-distance just trying to get a sense of the various neighborhoods. i.e., which neighborhoods are multifamily, which are single family, which are A/B/C/D, etc?

Thanks all! 

[Jake Kain]

@Tamara Rodenbeck Welcome!

I am in the same position currently.  My wife and I are in the process of finishing up some things on our house and hope to have it listed next month. I have been searching for a MF that we could house hack and it has proven to be a very difficult task. I have lived here my entire life and still do not know every neighborhood and I am still learning. So I can definitely see how coming in from out of town would be a huge undertaking.

We recently did some more research on the Casita hacking and have starting looking into that as well. It seems like it could be a great opportunity if you do your research and find the right areas. We are searching the central/downtown phoenix area as well as Tempe. Hopefully, we can find something that works!

Whenever you guys get out here, feel free to reach out. Hopefully, we have found something and have been into it for a few months by then so we should be able to give you some realistic expectations!