There is a lot of value in Glendale, Central Phoenix, and South Phoenix. Also a greater chance that the property is going to need some repairs in those areas. I would suggest Mesa or North Central Phoenix for duplexes because there can be some nicer pockets of neighborhoods but you could still find some value properties. Scottsdale has a few duplexes on the market and they are the cleanest of all but not the best numbers you’ll find.
Can somebody confirm during recession quads went from fully occupied to no occupancy.
I can see reduced rents but everyone leaving town all @ once.
I'm going to piggy-back @Kantrell Bland 's question and ask about Apache Junction from a local perspective. My mom has a small townhouse there (Apache Junction). It's not the nicest area however it seems like it is in the path of progress and places seem to be pretty affordable. Plus it's still only a 30-ish minute drive to Phoenix airport. It's a fully developed town and all but it's a little run down. But to the west is fully-developed Mesa which is really nice. Last time I was visiting I noticed a lot of construction moving east into AJ. Further east are pretty posh suburbs that are pretty much new construction. I felt like AJ might be a great place to get in while the gettin's good. This might be another option for Kantrell. But, with that said, maybe the areas that @Kellen King mentioned are no-brainers and therefore should be pursued first. Maybe Kellen can comment again. Thanks.
@Josh Collins I love investing in AJ. My buddy and I have made more money in that city than any other in the East Valley. We currently have 4 cash flowing properties there and I’m always looking for more.
@Josh Collins Apache Junction is strong. I recently took over management of 2 4-Plexes in Apache Junction that are in C areas. The buildings had 3 vacant units when I took them over with some pretty unhappy owners.
In one month both buildings are full, rent paid on all 8 units and the 3 vacants I'm getting $200 more per month than the previous management was getting.
The demand I created was high, hundreds of leads for the units, it takes some filtering to sort the good tenants out but they exist.
@Doug McVinua Why were these units vacant? Did you have to do some rehab to get them rented? This seems interesting. In looking for investments with my Mom, it seemed that most everything seemed to be pretty well rented.
@Josh Collins The previous Property Managment Co in Gilbert, AZ wasn't on top of the units and allowed 3 units to be vacant. To be fair one unit was in the process of evicting a tenant, however, they had dropped the ball on the eviction as well.
Along with the owners, the 3 units were given a quick facelift, primarily consisting of paint, blinds and some new flooring.
Yes, the demand is high. I had interest in all 3 before the rehab was completed each and every time.
Apache Junction, AZ is doing well, it's some prime real estate!
We are from Iowa, moved to AZ 20 years ago and love it!! Started in real estate immediately upon moving to AZ and never looked back. I'm a small broker still helping buyers, sellers and doing property management.
I have yet to scrape heat off the windshield or shovel it.......lol
The outer suburbs of Phoenix (including Apache Junction) are great values, especially long-term, as the population growth continues it will push people further out. Once populations move outwards then city updates are made and housing updates follow. Apache Junction won't seem so far out then. The town of Surprise, AZ is somewhat of an example of this.
Something everyone else left out about you locating to Phoenix is that you're going to be house-hacking, meaning you're going to be living in the property you invest in.
That's a major consideration for multiple reasons:
Do you have a wife or girlfriend? Then she's certainly going to have an opinion on the area moreso than the ROI on paper
Do you have kids? School districts probably won't be the best in the areas you'll get the most ROI
Where do you work? Investing in Apache Junction is great, but if you'll be working in Surprise have fun commuting 2 hours a day.
A house-hacker is a special type of home buyer, because you have to find a deal where the numbers make sense AND it makes sense for your personal living situation. It's not like that for normal homeowners or typical investors. They only have to care about one of the other.
If you have some more information we might be able to help you narrow it down, but until we know about your personal living situation requirements we can't be of much help really.
Sorry about the separation ... thoughts and prayers go out to you and your family.
I know plenty of Minnesotans that really enjoy east Mesa. I have lived in east Mesa/Gilbert for nearly 10 years. A few words of advice: commute times may double in the winter than in summer.
Properties in the more distant Apache Junction are generally cheaper as there is still plenty of undeveloped land. I still own land in that area, and investments elsewhere in AZ. If you need someone to show you the ropes just give me a shout!