Investing in Phoenix/Scottsdale/Mesa Area Remotely

[Rajan Udeshi]

Hi all!

This is my first post, I am excited to be part of the community.Very similar situation to a previous post here..

I am a Chicago transplant living in Orange, California. My fiance and I have started looking to purchasing an additional property in the area for long term cashflow. We are focusing on Phoenix/Scottsdale area due to the diversified economy, 2020 forecast, and relative affordability to purchase multiple assets over the next couple years. We're looking for a buy and hold long-term rental, unless appreciation justifies selling :). We will look to leverage a property manager once I have something under contract. Any advice/insight into areas, investor-friendly realtors/wholesalers, and lenders would be fantastic! 

Here's what i'm hoping to learn.

1. Who should I be working with as a remote investor? ( I plan on traveling there once I have a plan in place) ( Local agents please feel free to PM me)

2. What submarkets make the most sense to research? ( i'd like to find something relatively turnkey, cashflow positive and under 160K)

3. Is my budget reasonable? My goal is to put down 20% and go conventional route for financing.

Looking forward to hearing your replies!

Raj

[Account Closed]

Originally posted by @Zeeshan Qureshi:

I’m from NY and I too have been interested in the Phoenix market. I’m looking for a 2-8 family if possible. I don’t see anything on Redfin or trulia that can cash flow, what am I missing?

 You're not missing anything except you're missing everything. It takes local knowledge right now in Phoenix if you want cash flow and a safe investment.