Mesa Arizona rentals?

Question

Anyone with some basic knowledge about rentals for cash flow in Mesa, Arizona?!

Stone Jin · Answer

@Arturo Andres Lara The main question that needs to be asked is what type of cashflow and cash on cash returns you can get in the east valley. I'm curious to hear what others are getting. I've basically stopped my buying in Phoenix metro due to the low returns.

Thoughts?

Doug McVinua · Answer

@Arturo Andres Lara I manage single family and multi-family. I live in Gilbert and focus on the east valley area, Gilbert, Chandler, Mesa, Queen Creek, San Tan Valley etc.

Mesa and Apache Junction are going to be more affordable than Gilbert and have a higher quantity without HOA. Personally, I wouldn't let a reasonable HOA stop me from investing. Many are still $65.00 a month or so and do a pretty good job of holding the neighborhood values up, that's what you might look for. Some are crazy expensive and just kill our numbers on investment. I manage both in and out of HOA and both can be fine.

Mesa and Apache Junction will have more multi-family also.

Jamie Rosen · Answer

@Arturo Andres Lara Happy to chat!

Account Closed · Answer

Most areas in the Phoenix metro are good for investing. It's a bit steep in Scottsdale & Tempe but Phoenix, Mesa, Glendale, Gilbert, Peoria, Chandler all have good areas for investing especially compared to Los Angeles and California in general. Here is a spreadsheet to help with the numbers:

Average Cash Flow Per Door In Phoenix Metro Area

https://www.biggerpockets.com/forums/600/topics/584916-average-cash-flow-per-door-in-phoenix-metro-area

disclaimer: I sell Turnkeys in Phoenix Metro

Doug McVinua · Answer

@Vivian Huang Some of the best numbers I have been seeing recently are in the east valley with 4-Plex properties. We are able to reach the 1% rule with some of them.

My numbers are pretty solid in this area as I already manage other 4-Plex in the areas and know what the current rents are going for.

Stone Jin · Answer

@Vivian Huang I would say most of my properties acquired in the last few years in Phoenix metro has been in East Mesa and Apache Junction.  I have no bought anything in Phoenix since 2017.  If I were to look now, I would think Tempe may offer the best returns, but they are still not great comparatively.   I'm a single family investor, I would think there would be some better buys in the small MF space.

Vivian Huang · Answer

@Stone Jin Do you mind sharing what areas in Phoenix were you investing in?

Arturo Andres Lara · Answer

@Doug McVinua are the properties you manage multi unit properties or only single family rentals? Not very familiar with the market. Coming from nyc most rentals are multi family units. Not very many single family units for rent in nyc five boro area

Arturo Andres Lara · Answer

@Wes Blackwell yes Im looking for a market to invest in. I’ve considered Mesa because my family lives in Gilbert. I live in nyc and come here about four to five times a year. Im looking to invest in single family homes to begin with. I’m not a big fan of Hoa. It seems that a lot of homes here in Arizona have hoa included in them. I probably haven’t searched well enough to say all but I have noticed a majority in Gilbert with hoa. I am very interested in learning more about the market opportunities in the valley not limited to Mesa. I am looking for good rental investment properties in areas where people are looking to rent.

Wes Blackwell · Answer

@Arturo Andres Lara

Hey Arturo! As Doug said, do you have a specific question you're looking to get answered? There are rental opportunities all over the valley... is there something specific about Mesa? Or are you looking to invest in your backyard and want to know about the market. We're here to help, just need a little guidance!

Mesa Arizona rentals?

Most Popular Reply