I am living in San Diego and I would like to get started in RE investing. I would love to invest in MF residential properties. My "investing philosophy" is driven by cash flow and, so I am not really focused in future appreciation, that is the reason why I am looking for out-of -state investing. I would love to discuss with investors from San Diego who already had the experience of doing it. Currently, I am looking in AZ market, especially, in Tucson. What are your thoughts about it?
Investor · Winters, CA · Member since 2016 · 27 posts · 10 votes
7y
@Karim E., I purchased 2 properties in Tucson in 2018 for a total of 52 units, the reasons are the following:
1. relative affordability of the properties
2. job growth in Tucson
3. U of A plans to grow student population by 50% by 2022
I forget who put the specific statistics of this in a forum post but if you do a search I am sure it will come up. I am in the process of re-positioning the properties so I don't have much tangible experience as of yet but hopefully will soon.
Real Estate Broker · Tucson, AZ · Member since 2017 · 46 posts · 9 votes
7y
@Karim E., @Robert Hamilton@Henry Kaldenbaugh, I'm a multi family broker here in Tucson, however I work across the country as well - I actually helped @Ivan Dodic acquire his properties (Hey Ivan!), I'd be happy to chat with you guys about Tucson, or help to find properties big or small here in Tucson or other markets depending on your needs!
Rental Property Investor · Napa, CA · Member since 2019 · 32 posts · 14 votes
7y
@Karim E. I just dove into the Tucson market with a funky MFR that will take some creativity to make work. It probably isn't the best deal in the world, but I believe there's decent upside. It was just time to make something happen! We relocated to the Bay Area in 2016 after 13 years in the Old Pueblo. The cost of housing here led us back to the more affordable (and still fairly familiar) Tucson market to start our RE investing journey. From what I understand, there are some good things happening at the southern end of town, but I'll defer to the local experts as far as that goes
@Ivan Dodic congratulations on the MFR deals...something to aspire to!
@Elan Spreiser I'll be in Tucson from 2/2 - 2/10, and would love to touch base with you while I'm there.