All Forum Posts by: Jake Gandolfo

Looking for homes in and around Phoenix, Arizona. Prices are high in this area and I think I will have better luck finding a cash flowing property with foreclosure homes. Many homes are going to auction however and so I'm wondering if auctions are a useful/common place to find well priced homes or if I should stick to bank owned properties that have a set asking price. I am looking for my first rental property at this time, very new to the world of real estate investing. Thank you in advance for any help!

Is rental property investing in Phoenix(or surrounding areas) conceivable at the current prices? A little about myself: I am 23, and work for the fire department. I’ve always been interested in investments of all kinds. I recently bought the book “the book on rental property investing”. I’ll be honest I’m only on page 127 and plan to read it all and more Books no matter what. But what I’m seeing in terms of market prices around me makes me feel like there is no way I could get into a property and make any cash flow at the current prices. In the book he talks about the 2% rule. I’m not even seeing a .5% rule here in Phoenix!!! Can someone tell me that it is possible or that the market is just to high and I have to wait for a correction? I’m looking at single family homes as well as condos. Thank you very much in advance for taking the time to help a young man who is eager for knowledge out.