First Time Homebuyer / Investor - Phoenix / Scottsdale / AZ

[George Torres]

Hey everybody, I'm moving to Scottsdale, AZ in November to be a first time homeowner and to start my REI journey. I'm interested in buying small multi-family (fourplex would be idea, but duplexes, triplexes would be ok too if it's the right deal). I'm getting conventional financing and my budget is $350,000.

I would so appreciate any advice, and if someone can point me in the direction of where to best find a deal like this I would be so grateful. Time's a tickin'. THANK YOU!

[Cara Lonsdale]

You will be hard pressed to find anything like that, within the budget you established, in Scottsdale.  You may be able to find something in surrounding cities, but very unlikely in Scottsdale, at least not in this current market.  Even an older 1 bedroom condo in South Scottsdale will run you over $150K right now, and most closer to $200K (unless it is a co-op).

If you are open to the Southeast Valley (Mesa, Chandler, Gilbert, Apache Junction), You could find more options within Budget.  There may be some West side or Southwest options as well.