I've done some research and really think Phoenix is a great area to buy. I'm looking for a property around the Tempe/Mesa/Gilbert/Chandler area. A single family home, with 2-3 bdrms, price range 180-250k, with great rentability, so cash flow positive. As someone working from California, I'm searching and prefer the same realtor+property manager to work with to find a great opportunity and also manage.
Any recommendations from experience?
Any thoughts on what I should be looking for in a Property Manager specific to Phoenix?
For that budget, you're going to have very limited options. You not likely to find anything in Tempe, Chandler, or Gilbert, but there are a few properties in Mesa. For that budget, you should look towards the West Valley or North Phoenix.
My associate and I work with several clients with similar criteria, we don't like work the West Valley simply because of the distance but we are finding condo's within that price range in Mesa, Tempe and Phoenix. I'm actually closing on one Monday that I will put a tenant in and then offer it out to my Management clients. They are out there but they are hard to find.
Hi @Bob Okenwa@Ryan Swan, I was looking at townhomes + condos. Just updated the main comment.
Thanks for the share @Dick Rosen, just sent you a PM.
I was also curious, on Redfin for condos there is an HOA fee, but if a Property Manager says they will cover that fee, how does that work? I'm thinking the owner pays the HOA fee and the condo management company takes care of repairs, so maybe it's misleading the PM is taking care of HOA fee? I could be wrong, just my initial thoughts.
@Andrew Der I can't imagine why a PM would ever pay the owner's HOA fee, which could be $150-$300+/month for a condo. If a PM is charging say $70/month for management, then they would be in the hole ($80) to ($230) per month. Maybe the PM was telling you they would pay the dues on your behalf and manage communication with the association, but then they would simply deduct the dues from your monthly rent revenue.
Hi @Bob Okenwa@Ryan Swan, I was looking at townhomes + condos. Just updated the main comment.
Thanks for the share @Dick Rosen, just sent you a PM.
I was also curious, on Redfin for condos there is an HOA fee, but if a Property Manager says they will cover that fee, how does that work? I'm thinking the owner pays the HOA fee and the condo management company takes care of repairs, so maybe it's misleading the PM is taking care of HOA fee? I could be wrong, just my initial thoughts.
I don't know of any PM that's willing to pay HOA fees but most if not all are willing to pay them on your behalf just like any other bill but it would be paid from your income not from the PM's pocket.