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.

732-333-1477

@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!  :)

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