Plan To Invest In Phx, AZ - Insights Appreciated!

[Aaron Sauceda]

Happy Thursday Everyone!

My brother and I would like to invest in Phoenix, AZ real estate. He currently lives/works there and would owner occupy the property. He's currently renting and the plan is to "house hack" via purchase of 1-4 units around Q4 2017 or Q1 2018. This could be through living in one unit and renting the other(s), renting rooms in SFR or combo of both.

I've posted a few questions below that we'd really appreciate local investor insights on. I recognize everything is YMMV and depends on individual situations, goals, etc, so a caveat: if this were you later this year/early next at ~26 years old, what would you do?

Questions:

1. First, should we even be investing? I know the market has recovered quite well in most areas since the crash. I get the sense, while perhaps not a bubble, we may be getting towards the top of the next correcting point. Recognizing you'll likely never be able to perfectly time the market -- neither sell at highest nor buy at lowest -- should we be investing later this year / early next? We're in no rush and want to ensure we're strategic about allocating investment dollars. Would you be buying later this year / early next?

2. If Yes, Best Areas To Invest? For the best value and slightly "young person" leaning, what zip codes should we be looking at (e.g., good mix of fun experience and cash flow)? Even if it isn't quite there yet today, what's "up-and-coming" or might have the early indicators of such? Similarly, in 10-20 years, what zip codes could rival Scottsdale or "Scottsdale-lite"? James Wise's Ultimate Guide to Cleveland Neighborhoods is awesome and would be amazing if this existed for Phoenix; does it?

3. Cash Flow / Pricing Discount Possibility Expectations? This is certainly YMMV and depends on goals, neighborhoods, etc ... we were thinking we'd like to target $150-200 in cash flow per unit. Is this realistic? Should it be higher or lower? As for pricing, what type of discounts is the market seeing on "good deals"? For instance, in Orange County, CA, seems like 90% of ARV is the most common "really good deal." What about Phx; 80%? 75%?

4. Recommended Local Meetups? Are there 2-3 local meetups you strongly recommend where we can learn more and connect with local investors?

5. Publications / Tracking Market? Are there certain publications you read that detail the local Phx market well? What are KPI's we should be looking at and trending to track local markets?

6. Strong Local Team Recommendations? Any strong investor-focused realtors, wholesalers, lenders, contractors, property managers we should reach out to and connect with?

A lot of questions I know; any insights are really appreciated!