Starting in Phoenix...

[Chris Patrick]

Hello all! I'm new to this forum, so I apologize if this post is in the wrong place. I was hoping someone might be able to give me some ideas about where to buy my first property in the Phoenix area now that prices are getting so low. I've never owned a home before, but everyone is telling me that now is the time to buy since my lease will be up in August. Basically I would like to eventually get started in real estate investment when I have better credit and capital (like in 2-5 years), but I want to make the best buying choice I can now for my first home which I will live in for a while.

I am looking for something around 100k and not impossibly far away from where I work (at I-10 and Broadway). What are your thoughts on which areas I should be looking at (in terms of appreciation and/or future cash flow/rental situations)? So far my thoughts are like a nice 3 bedroom in Laveen or a mediocre condo near ASU that I could later rent out to students. Idk. I'm open to any suggestions anyone might have. I'm 27 and single so I have a lot of options, but not a lot of money and my credit is only like 630ish.

Thank you for any advice you can give me about the best way to get started.