Coming for a visit!

[Blaine Bisquera]

Hello BP!

So my wife and I currently live in San Diego and have been interested in REI in the Phoenix area for a little while now, but have only been looking at properties through sites like Redfin or Zillow just to get a feel for what the market is like and whats available. We finally have an open weekend to make a trip out there, so we have decided to go this weekend to check out the different areas for ourselves and get a feeling for which areas we like and don't like. We are mostly interested in 3 or 4-plex properties of class A or B for buy and hold, and obviously want to maximize our cap rate while still being able to buy in desirable neighborhoods. Our knowledge of the area is limited and figured we could come here to ask a couple questions in order to help maximize our time during our visit.

1. Given the brief description of what we are looking into at the moment, which areas/neighborhoods would you recommend looking at?

2. Seeing that we are out of state, are there any PM companies you would recommend? Anyone currently using any PM companies in the area that can give some feedback?

Thank you all in advance for the help!

[Denny Robert]

I personally own 3 and 4 plex buildings in Tempe within biking distance of ASU. Rents are on the rise and so are prices. The opportunity in residential multi family here is to buy something that needs work and have it fixed up. Last year I bought a fourplex where the average rents were $585 for 2 bedroom 1 bathroom. My latest lease was $775 after an interior rehab. After I finish the exterior I expect $900+. If you need help feel free to reach out. I have an excellent contractor for investor flips and rehabs.