Updated almost 5 years ago on . Most recent reply
Newbie Out of State REI
Hey BP fam!!! Happy New Years. I am active duty military currently living in San Diego, CA. After months of research, my wife and I have decided to invest out of state due to the high prices in the SoCal area. We have narrowed our options for out of state to Phoenix and Atlanta where we would manage the property ourselves.
For those who have gone down this path, we would greatly appreciate insight on a potential deal for a Tempe, AZ option. The property is for a 2,424 sq ft duplex new construction for $273k with each unit having 3 bd and 2 br.
"Zillow predicts the home values in 85284 will increase 11.2% (↑) in the next year.
- This home is valued 46.6% lower (↓) than the typical home in 85284."
Mortgage is apprx $1100 PITI and Rentometer estimates a unit averaging $1600 monthly bringing us to a possible $2100 in cash flow.
We are looking for feedback from investors in the Tempe area, realtor recommendations, any and all additional information on location, suggestions are greatly appreciated.
Cheers!
Most Popular Reply
@Benjamin Cedillos, I have investments in CA, SC, CT, NY, and VA.