Anyone have experience investing in Globe AZ?

Question

Hi all! I'm new to REI and am looking to use the BRRR method to buy and hold. Its tough to find deals here in the PHX/Mesa area as prices are climbing and I don't have a lot to invest. I'm looking at home prices in Globe Arizona and it seems like cash flow would be much higher in that market, and its only an hour away from me. I'm wondering if anyone owns rental property there, and if anyone is familiar with the rental market. If anyone has reliable connections I would be interested in working with a realtor/property manager in that town as well. Thank you!

Account Closed · Answer

Paul,

Were those apartment buildings?

Kenya Arnett · Answer

Hi Nolan, I'm curious if you ever ended up doing some deals in Globe? I've had an opportunity come up there that I'm considering. If you ended up buying out there, how did it go?

Account Closed · Answer

I have not invested in Globe, but I have look at deals there, but I have invested in Nogales, Florence and Douglas which are very desert, small towns, when I drop $450k in Douglas my partners taught I was crazy, buying a 12 units, well I was crazy happy that I was Cash flowing great money and now just sold it, so I bought in Nov 2011 $450k sold in March 2016 $670k which made me a bit happy, never put a penny into it either. ( my partners now call me desert king and I like the term )

Tim Gara · Answer

I haven't either, but have done some research on the area.  It is a small mining town which is very dependent on copper prices.  I just read the main employer began steep layoffs because they are halting production until prices recover.