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