looking for a Phoenix RE agent and property manager

[Minar Aware]

Hello investors, agents, fellow BP colleagues, 

I've been listening to a lot of podcasts and following lot of BP forums. I'm from the Bay Area, California and have been wanting to invest in  Phoenix area. My sole aim to find a investment property with positive cash and appreciation over long term. I would love to talk to a real estate agent who has good insight and knows about the Phoenix market in depth. I have started looking at Tempe, Mesa , Chandler and Scottsdale. 

I have heard property management companies are one of the best resources to examine the rental market. Thus any recommendation on property management companies are most welcomed. 

Thanks.

[Edward Cervantes]

@Kevin Moules my recommendations truly depend on your budget and your risk tolerance. For instance, a fourplex in Chandler 85225, S of Gilbert, is offered at $340 thousand. It has a monthly ROI of .824% and a cap rate projected at 9.8% as it is fully leased. Just around the corner, at 85225, a 17-unit sells at $1.360 million. That has a monthly return of .875% but the cap rate is projected only at 7.14% in the MLS. So you get more bang for your buck with the 17-unit but factoring the vacancies should drive down its value in your scorecard.

If your risk tolerance is low, I'd focus primarily on properties with higher cap rates, then zip codes and other criteria should follow thereafter. As long as you follow proper screening protocol, you should be just fine.

I've had terrible tenants in affluent neighborhoods and excellent tenants in not-so-affluent neighborhoods. I started investing in a central Phoenix property and it still pays 1.75% - PLUS my tenant is a handyman. Properly screening tenants is key.