Out of state investor - Live in CA -4 units in Phoenix

[Angela K.]

Hi - I am Angela. I love the BP podcast and decided I would like to learn more.  We have owned a 4 unit in Phoenix since 2006 which overall has worked out but has not always been a smooth ride with the economy.  We are looking to purchase another multi-family rental but trying to decide if we should stay in Phoenix or look elsewhere.  I'm sure there are also things we could be doing with our current rental to improve on the cash flow - possibly get a property manager? Maybe even refinance our mortgage?  We have owned other rentals in the past in Chicago so we have some experience there as well.  We are within 5 years of retiring and we would like to invest in buy and hold rentals for cash flow in our retirement.  I just want to make sure we get it right!

[Bob E.]

@Angela K. We are seeing double digit cap rates in the midwest right now.  If you re reinvesting your  cashflow your portfolio will grow, even if individual properties do not appreciate.