All Forum Posts by: Ryan Pollack

@Thyra Dixon great information Thyra. The property I reference to in the original post was sold for $152,000 in 2005 and is now listed for about $155,000, virtually no appreciation. I imagine with the growth in the valley and in neighboring towns like Casa Grande this will change.

@Doug McVinua As a Property Manager in the valley, would you be able to stretch an hour to take care of a property there? If not, do you think it would be difficult to find a good Property Manager in a small town like this?

@Ryan Swan

Thank you for the advice and perspective.

Are you finding potential properties in Tempe/Scottsdale right now? I’ve worked the math on quite a few deals in these areas and I can’t find anything profitable. Glendale/Peoria and parts in the east valley Mesa, Chandler, Gilbert are closer to making a good cash flow but these tend to be in rougher neighborhoods or are in need of significant rehab.

I’ve also narrowed my scope to small multi family properties, I could start looking at more single family homes.

Again thank you for the time, any advice is extremely helpful.

I’m new to real estate investing and I want my first investment property to be close to home just for comfort level. I live in the Phoenix area and have been looking for months for small multi family properties that have potential to cash flow. Unfortunately, the market in Phoenix and the nearby cities/suburbs for about a 40 miles radius is the same. Inflated housing prices and not high enough rent for there to be any opportunity. But, taking a look at the available properties in the whole state, there are some very small towns that have multi family properties for cheap. I was wondering if anyone has experience with these types of properties?

Property 1: $150,000

Located in Arizona City, Arizona. Population 10,500

Duplex both units identical 3b2ba 1300 sq ft each. 1 car garage each

There’s 2 other 3b2ba single family houses listed for rent at $1,100 and $1,200 (they have been rehabbed.)

I believe rent could be $700/$750

Property 2: $180,000

Located in Sierra Vista, Arizona. Population 43,000

6 unit property, all 1b1ba units 475 sq ft, 6 parking spaces

Rent at $450/$500

When I plug in the numbers everything works out to positive cash flow. Are there specific issues I should look for in small towns like this?