Arizona Vs. Cali
Hi,
I am a very excited first time RE investor and need help with some advice. I am currently living in San Bernardino, CA and plan to buy a 4plex in Arizona in the next 3-4 months. I would also hire a property management co. to handle the rental. The reason I like arizona area is that it is still affordable. I tried looking out in CA but too expensive. Being this is a first time investor I am a little scare because the property is so far away for me to oversee it, and the cost of hiring a property management company also really concern me. Or should I just keep looking in CA or wait until the price come down in CA??? tHANKS for Any advice from all the PRO's will be truly appreciated.
Dave :-?
Dave,
Arizona makes more sense these days than California but you need a good property manager. Where in Arizona are you planning to buy a 4-plex? My sister has a rental near Phoenix (we live in Bay Area, CA) and her property manager is pretty good. If you are interested I can give you his info.
Alla
live where you want. invest where it makes sense.
i've heard phoenix rental market is a little soft. can afford some
vacancies for a few months???
Hi Alla,
I am thinking about buying the 4plex in Phoenix or if there are any other good deal in surrounding area like scottsdale or Mesa. I read from the OC Register that a lot of Californian, especially Orange County folks, moved to Scottsdale, AZ. But my preference is Phoenix. Anyway, yes please send me the info of the property manager in az if you have it. I would really appreciated. And also Merry Christmas and Happy New Year to you.
Dave
Millivanilli,
Thanks for pointing out about the rental market conditon in Phoenix. I can afford a few months of vacancies and it's going to be tough but I can't afford any 4plex at in southern CA. For a much newer 4plex in Phoenix (less than 20 yrs old) sell for 200-300 thousands compare to 500 thousands in CA and much much older, even back to 1920s. With the great population growth in AZ, I hope it will improve the rental market soon. Thanks.
Dave
Dave,
This is info for the property manager I was telling you about.
Matthew McKenney - owner/broker - REMAX Power Realty
phone: 480-545-5858
email: **Please See My Profile**
Alla
Dave,
Sorry, the website didn't allow me to post his email.
Alla
Greetings Alla,
I posted this same question about a month ago. I live in Riverside. The market is on fire in Phoenix. I spent the last two weekends out there. I just bought a brand new 2004 4bdrm/2ba house in a new developement area. I was scared going into it at first. I found a really good realtor which is also an investor and purchased my first investment property. It closes on January 13th and I am really excited. I am planning on going with desertwide property management. I heard they are one of the best in AZ. Let me know how it works out.
jrendell,
I am planning on doing the same thing as you did in phoenix - buy a house in an affordable area and rent it out with the help of property management. Please give me more tips on dos an donts.
you can email me at **Please See My Profile**
I would like to keep in contact with other real estate investors. please contact me at 916.712.8275
or email mlicha(at)surewest.net
Alla,
Thank you very much for the contact information for the property manager. I really appreciated it. I will give him a call as soon as I get things going.
Dave
JRendell,
Can I ask you how long your realtor/investor have been in real estate for and how many properties he owned. Seem like you're really happy with him. I am looking for someone with that background to help me get started as well. I also lived in Riverside by Tyler Mall area for about 20 yrs but moved to Colton 2 yr ago bc of work.
David
davidhcao,
why did you pick phoeniz over las vegas, or austin, tx or anywhere else?