Phoenix Area - Experienced Investor Looking for MFRs

7 Replies

Hi All,


I am an experienced real estate investor with SFRs & MFRs in both Denver & Indianapolis, and I am exploring the greater Phoenix area as a new market.  I would be interested to hear the input from local market participants on which markets, sub-markets have the best prospects on a 3-5 year hold.  I am considering MFRs with 2-10 units.  While cash flow (cap rate) is important, the growth prospects of the market are more important.  Would be particularly interested in gentrifying neighborhoods & value-added opportunities.

I will be in Phoenix next week to start looking at properties.

Any input/suggestions are greatly appreciated!

Best,

Matthew

You should be in touch with Linda Gerchick, excellent broker in the area.

@Matthew Schroeder there's a ton going on. We are closing on our first deal in Phoenix in the next couple of weeks. In the months leading up to buying we made a lot of trips since it seems to vary greatly even by street in seemingly decent areas. Most of the stuff I like is north of McDowell, South of Camelback, West of the 101, and East of the 51.

@Matthew Schroeder I’m an agent at one of the top multifamily brokerages in the state. I have access to all on market and some off market properties as well. Shoot me a colleague request and let’s talk more about what you’re looking for

Chris

@Yonah Weiss   Thank you for the reference!  I will connect with her.

@Scott ONeill   Thanks for the input.  Actually, that general area was where I was going to start my search, starting from Scottsdale & emanating outward.  Are you looking at MFRs or SFRs?

@Chris Tran   PM sent.  Thanks.

@Matthew Schroeder Strictly multi family. We are closing on the aforementioned deal next Friday. We plan to do some pretty extensive rehab and add some additional ground up units. 

@Chris Tran let's talk. We are actively looking for others. 

@Scott ONeill   That is awesome!  Good luck.  Keep BP updated - always good to hear interesting stories.  I wish you much success!  :)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here