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Results (1)
Sagar Mukala Am I crazy to think 1 percent rule doesn't work in Phoenix / Scottsdale?
13 December 2023 | 8 replies
It is appealing to me because of the ability to catch a short flight and land in Phoenix to manage the properties when needed.My goal:* Invest in a single / multi family property worth $300K in a quality neighborhood (class B or above) to buy and hold* Target is positive cash flow, build equity over timeThe following factors make Phoenix attractive to me:* +2.3% population growth since 2020* Strong Case Schiller index * Presence of large employers like Amazon, Walmart, and $40B investment towards a semiconductor facility that is projected to complete in 2026Challenge:* I'm consistently seeing rents in the $1900 - $2000 range for single family condos in (2B, 1 Ba) range making it a negative cash flow prospectQuestions to the community:1.