@Adam Zamboni Phoenix is a great market to invest in. With the continued downfall & uncertainty of California as a state overall, it has only helped the growth of the Phoenix market. Many California residents ( and other residents in states such as Washington, Oregon, Colorado, New York, etc...) are targeting Arizona and relocating here not only for growing economy, but to take advantage of many benefits such as low property taxes, strong appreciation and great weather 9 months of the year. Multifamily is extremely competitive, and you will have more difficulty in finding a buy ( trust me, it is like striking gold when you find a nice value add opportunity at a good price). I think it is best to determine what your long term goals are? What type of cap rates are you happy with? New builds vs remodels?
There are still PLENTY of good SFH buys in the Valley, you just need to do a little bit more homework or find an agent that knows the city like the back of their hand. I target value add product and although it has slimmed quite a bit in the last 10-14 months, there are plenty of up and coming areas of Phoenix that I am seeing be turned into B+ and A- minus neighborhoods, which I am targeting for my future investments. Hope this helps and always here to chat!
