I'm looking to purchase a multi-family investment property in Phoenix. I understand it's not a great market for cash flow, but my focus is more on appreciation. I own a place in the Bay Area (free and clear) and want to get my equity out of CA and maybe eventually move. After several visits, I've narrowed my search to areas near(ish) to downtown (Roosevelt, Coronado, and Encanto) that I foresee transplants from CA being drawn. Does anyone have experience/opinions about these neighborhoods to share?
Real Estate Agent · Scottsdale, AZ · Member since 2018 · 412 posts · 366 votes
5y
@J Creed It's great that you've made several visits to Phoenix to check out neighborhoods that appeal to you and that you feel have potential. The neighborhoods you mention are very cool and do attract people who appreciate a historic vibe. Also worth considering are neighborhoods in 85016 and 85018. I ran an MLS search of the areas you are considering, plus the zip codes I've mentioned above. Here is the current inventory: https://www.flexmls.com/share/...
Right now I am reaching out to MF owners to find a very specific property type for a BiggerPockets member, also from the Bay Area. If you DM me what you are looking for, when I reach an off-market owner who fits your property profile, I can share that with you.
Homeowner · Phoenix, AZ · Member since 2020 · 5 posts · 2 votes
5y
@Melanie Johnston This is a very helpful resource! I am also looking to buy & hold a multi-family property here in the Phoenix area. I purchased my first home this past year and was curious if you know about financing of a larger property so soon after purchasing my first home (and so early in my investing career). Thanks in advance for taking the time to consider my inquiry :)