Connecting with Phoenix Investors

[Jack Liu]

Hello all! 

I am an out-of-state investor from California looking to buy some properties in the Phoenix market. I have been investing in Indianapolis for the past few years and would like to expand to a market with a bit more growth. I would love to connect with the investors and other professionals in the Phoenix market. Thanks! 

[Account Closed]

Originally posted by @Jack Liu:

@Account Closed

Thanks for replying! I heard about the craziness in the Phoenix metro market. Currently, I am thinking about potentially investing in condos in the 200-300k range. It seems like there is still a possibility for some cash flow at that price point due to the increasing rents and relatively low property taxes. I usually prefer to purchase single-family homes or duplexes but it seems like those properties are getting too expensive for cash flow in the Phoenix area. I would love to hear what you think about this strategy. Thanks! 

Jack 

There are a lot of new Condos and Apartments being built right now, mostly by hedge funds. Condos can be a challenge if the building limits the number of non owner occupied. Some allow only a certain percentage. Of course, the rules can change on realitively short notice so you have to be prepared for that. I haven't tried to make a Condo cash flow so I'm not familiar with that aspect and all of my Phoenix/Mesa/Glendale properties are SFRs not in an HOA. I sold the one property I had in Sun City because being in an HOA created some problems. All of Sun CIty is an HOA. Others may have had better experience with Condos. Just be aware properties in HOAs in Arizona are governed by the HOA Board and you have No One to appeal to.