Out-of-state Multifamily Investment in Phoenix, AZ or Denver,CO?
Hi,
I'm fairly new to BP and at the very beginning of my Out-of-State investment journey based in the Bay Area California. I have been considering Phoenix, AZ and Denver,CO as my options so far. I have compared population growth, rent growth, average income, and vacancy rate and they seem similar to each other on a high level. Denver seems to be more expensive and have higher median rents.
I know a good Cash-flow market is hard to go after right now and I'm going for the long game so would like to get appreciation and a positive cash-flow. I would like to get your opinion on what other factors I should consider to narrow down my search and pick a location out of those two(or any new locations you'd recommend to look after)
Thanks in advance.
Ali