Out-of-state Multifamily Investment in Phoenix, AZ sub markets?
Hi BP Community,
I'm an investor based in the Bay Area, CA and doing my research on Multi-family investment in the Phoenix area and its submarkets.
I'm interested in buying a duplex with positive cash flow and in a submarket that has a potential for rent growth and appreciation.
Would like to get in contact with some of the investors and agents in the area to learn which sub markets are better to look for and factors to look for in those markets?
Thank you!
I too am looking to expand into the AZ market. Specifically Mesa, Chandler, Scottsdale and Phoenix. Looking to connect with a Broker and wholesaler
Hi @Raymond Temprano and @Ali Mirabzadeh. I am a local Realtor with intimate knowledge on investing in Real estate. I would love to connect and discuss your investment strategy and help you achieve your goals.
Looking for bulding inspector.
Around the north Phoenix got duplex and need reputible inspector. Please!
@Ali Mirabzadeh I'm also looking to get in to this market. I'm currently living in Detroit but plan to be in Phoenix come Ocotber. Let's connect.
Quote from @Nina Jarosz:
Looking for bulding inspector.
Around the north Phoenix got duplex and need reputible inspector. Please!
Chad Ellis is the owner of AZ Choice Home inspections and does amazing prompt work! 480-304-0114 is his cell, tell him John Bradley gave you his info and he'll make sure you're taken care of. I meet with him weekly to discuss our mutual clients processes to ensure the best experience :)
Hey Ali!
Phoenix market is very tough right now, lots of CA money and out of state investors bought up in 2019 and are riding the wave of appreciation and cash flow which makes new inventory very unappealing with low ROI and cash flow if you're buying on the retail market (MLS, zillow, etc)
Have you looked in Casa Grande? Lots of new jobs and population increase over there, Maricopa city, Coolidge, florence, etc.
As a mortgage broker and investor myself I'm more than happy to answer any questions or help on lending questions!
Hey all!!
I'll be moving to the Phoenix area the 2nd week of August '22. I'm looking for a solid team to get involved with to start my real estate journey. I've been looking around Phoenix, and the market looks to be near an ATH. Any evidence that the market may be coming back down soon?
@Levon Plourde Hi Levon, I’m an agent in the Phoenix area and we seem to have already experienced the ATH. We’re seeing a huge uptick in price reductions and inventory is also way up. Great time for a buyer to be able to negotiate again. I’d be happy to help you out.
The amount of active listings are as high as they've been since about 09/2019. Prices are going to take some time to come down as sellers are still using comps from 4 and 5 months ago and that does not accurately reflect current market sentiment amongst buyers. We've shifted to a buyers market and the music has stopped on a lot of listings. Really good looking homes with great yards and "fair" pricing will still go somewhat quickly, but the below average homes in the below average neighborhoods are no longer selling like hotcakes.
Lots of meetups in PHX. It might be worth it to attend one of those to gain insights on the market as well as meet contacts. Go to the Meetup app. I usually go once a quarter or so to make contacts and build my team and leads. Another hot market is Texas. Still plenty of yielding deals there. Houston, San Antonio, DFW, and surrounding areas - hot hot hot. Still can get 3/2/2s for 200-300k. Thats actually where I have most of my RE holdings. I have single family long term rentals, short term rentals, as well as a ton of passive CRE investments and 3 larger apartment complexes in TX.
Quote from @Ali Mirabzadeh:Ali,
Hi BP Community,
I'm an investor based in the Bay Area, CA and doing my research on Multi-family investment in the Phoenix area and its submarkets.
I'm interested in buying a duplex with positive cash flow and in a submarket that has a potential for rent growth and appreciation.Would like to get in contact with some of the investors and agents in the area to learn which sub markets are better to look for and factors to look for in those markets?
Thank you!
Do your research and be extremely selective on the location you buy down here in Phoenix. With the current market climate we are in, if issues arise you want to be in a solid area. PS - this does not always mean Scottsdale.