Hi BP Family,
I’m new to real estate market and have decided 2019 is the year I finally jump off the plank into the world of investing. I would appreciate any advice or suggestions! Thank you in advance.
I’m born and raised in northern CA (currently located in Oakland, CA) working for a startup company who helps set up processes/operations for other young tech companies (think accounting, payroll, cash management, taxes,...etc). Due to the outrageous increase in rent prices I have now decided I am ready to escape and redirect my hard earned money into some equity. Ideally I’d like to move right outside of CA so I can still fly back and forth to work every month. My research has naturally pushed me into Arizona given location to southern CA (family is there as well), affordability, friendly taxes.
I’ve been hearing from friends living in Arizona that East Camelback is a great neighborhood to reside due to its location and being near bars/restaurants. Ideally I’d like to purchase a multi-family and live in one unit but as a first time buyer, with no connections, I’m a bit hesitant to take on this project. I may end up buying a single family (2bd, 2bath) and then once I have my boots on the ground look into a duplex.
When searching for multi-family around the EC area it seems that not many are available however in Tempe they seem to have a ton of inventory. Why is this? Is Tempe a good place to look/is demand there with near by college/what type of renters are out there?
As a young professional (28 yo) with a background in consulting software companies on best practices/processes from CA where would you advise I start looking to purchase my first house? Any connections in the AZ area would be wonderful. The comfortable purchase price would be around $350k. Any new developments/areas that are starting to be gentrified?
Thanks,
Stephen
