Hi guys new to BP but not new to real estate. Currently own about 10 units all in Phoenix Arizona and have done about 5 fix and flips but would like to get into something a little larger around the 30 units or above in Multifamily apartments. Currently I am looking to invest about 25% into a 1 million dollar property but looking through the current Phoenix market, prices of properties are a bit high to purchase anything for 30 units or above. Also does not leave much room for value add to the properties.
Which markets in the US are currently good markets to look into to return a better cash on cash return as well as a possibility for value add?
Thank you all for your insight.
P.S. If anyone in the Phoenix/Maricopa/Arizona area would like to meet I would love to meet new people who are also interested in the multifamily space as well.
If you have an opportunity, take a look at the tri-cities, Spokane eastern Washington region. There are a couple complexes that would fit your needs. Shoot me a message.
Anywhere in the midwest for cash flow. The problem being competition, I'm not revealing a secret here, everyone is hip to the midwest for buy and hold.
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