2nd investment in same area or branch out?

[Alex Pirila]

Greetings all:

Back story: My wife and I bought and rehabbed a home in Tempe, AZ with a VA Loan in early 2019. In late 2019, I was offered a great job in Chicago. We now rent our Tempe house and use a local property manager.

Question: When we are ready to purchase another investment, should we stick to the Phoenix Metro area or venture into other markets?

Primers:

1. While I love my job, it does keep me quiet busy.

2. I was born, raised and lived in all parts of the Phoenix Metro area.

3. However, I understand I have a natural bias toward Phoenix because it’s home.

Any guidance or insight would be tremendously appreciated.

AP

[Tim Fazio]

@Alex Pirila, stick to the Phx market.  It is extremely hot and AZ is seeing a huge influx of people moving there permanently from many states.  We will have a housing shortage for the foreseeable future.  Tucson is also a great market to be in and just a short drive south.