Investing in Phoenix for rentals

[Isabella Donadio]

Hi everyone, 

I'm new here and looking to get started in RE investing for rentals. I've done quite a bit of research on Phoenix, AZ so far and was wondering if I could get some honest opinions from those of you that have purchased investment properties here already. 

What neighborhoods/areas did you chose? 

Where you able to rent the property immediately? How did you rent it? Via realtor or did you do it yourself? Do you have a property manager?

Are single family homes further away from the city more desirable than apartments/condos downtown, or vice-versa?

And finally, does anyone worry that Phoenix is in a real estate investment bubble? 

[Ryan Swan]

Hey @Isabella Donadio, here's my experience from being a landlord for the past 14 years

1) I primarily focus on Tempe and the areas around Arizona State University (see #2 for reasoning). 

2) The properties rent almost immediately and are never vacant for more than a week. I rent myself using signs, Zillow, and sometimes Craigslist. As an agent, I sometimes help my clients rent specific properties by putting them on the MLS.

3) Location location location - the best rentals are close to jobs or other attractions/amenities. Rentals in the far suburbs would be niche rentals. 

4) Full time residents and investors are flocking to Phoenix from other high cost/tax cities and states, which is driving up demand. I don't see anything stopping this in the near term. I personally think it would take a larger macro economic shock to affect our healthy real estate market.