I’m 20 years old, and I’m a carpenter. I’m looking to purchase my first home by June this year using an FHA loan. I was wondering where the best areas in Arizona are for real estate investment? I want to utilize the house hacking strategy.

@John Nawrocki Tempe is the the best combination of price to house ratio in my opinion. It's super easy to get roommates while you live there, as well as after you move out and convert it to a true income property. The student rental areas around campus also appreciate well year over year due to the consistent demand. Surprisingly, it's still possible to pull off a good house hack even though the market is strong. I negotiated a great deal on a 3/2 house for a BP member last year around Rural and Broadway.

@John Nawrocki Welcome to BP! Are you looking for a multifamily or single family? The best areas and what you buy will ultimately depend on the what you can afford and what kind of property you're looking for. Tempe is a great area, but the MFR's there are pricey. Mesa has a decent volume of affordable MFR's, but the area isn't as good as Tempe. You may be better off with an SFR and bringing in roommates as this will probably put you in a nicer house in a nicer area. To sum it up, try to stay in Tempe near the university if you can afford it, but Ahwatukee, Chandler, south Scottsdale, and parts of Mesa should work for you as well.

Tempe. I bought my home at 19 and have rented the other rooms for the past 5 years. I haven't paid a dime for living in the past 5 years

You may look in Surprise, the market there hasn't really caught up with the pricing and the rent to cost ratio is good.

Hi john, Good for you! There are great investment opportunities all over the valley. Consider a casita for house hacking, and be sure that any HOA will allow rentals.

Tempe is a hard market, you will pay a premium. It's a great area, but tough to find a property in. I would say this depends on your housing needs and your price range. I've done residential in the Valley for 20 years now all over.

If you don't mind house hacking by having roommates, Tempe for sure or even Mesa. ASU is going to keep those markets chugging along and you'll never have a lack of renters. I bought 2 in Tempe last year and I'm looking to buy a primary residence in Tempe this year as well that will eventually become a rental (VA Loan).

@John Nawrocki Good on you for getting started at 20 years old, time is on your side! I'm just getting started in the game, with my first rental property in Tucson. I'm going to be there next week, and will be attending a local REIA event during my visit. I'll gather some information and share what I've found with you if you'd like.

Thank you so much for responding sorry I've been absent for so long I've had some family issues but I would love any information you could provide.

You mentioned you used the VA loan I'm in the military as well and my contract ends in 17 months any tips on how to maximize the benefits of the VA loan?

Best place in Arizona to buy my first single family home?Best place in Arizona to buy my first single family home?

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