Question about B class Phoenix investment properties

[Johnny Dee]

Hi,

I'm looking for B class buy and hold rental properties in the valley - anything from Buckeye over to Scottsdale/desert ridge down to Gilbert/Chandler/Awhatukee. I have my own ideas about where to look and what to look for but I thought I'd gather thoughts/advice from the community if anyone is willing to offer advice.

What areas would you search in for strong cashflow in B class properties? If you want to categorize I'd say B class is rents from $1100-$1800/month in Phoenix - at least that'd be my definition, along with an area that doesn't look blighted (minimal/no graffiti, decent cars, etc).

What price range would  you target (i.e. $140k-$225k)?

To get decent cashflow in B class neighborhoods, are there any special criteria you'd use in a search (for example go 3/2 with HOA less than $75/mo - something like this)?

Any other tips/tricks/advice?

I probably need to find property that has a monthly rent equal to or greater than .8% of purchase price. I'm also probably going to target newer houses - maybe 1995 or newer.

Thanks for any help.

[Robert Lorenz]

Take a look around Laveen and Tolleson, there's a strong rental market and the prices are a bit more palatable than the areas you mentioned. There are also portions of Maryvale and South Mountain villages with 1995+ construction that can be had for reasonable prices, though not sure how expansive the "B" areas are those communities.