Home Buying in 85048>Question Details

Rajiv Rastogi, Home Buyer in Portland, OR

Buying rental investment properties in the Phoenix area

Asked by Rajiv Rastogi, Portland, OR Tue Mar 2, 2010

Wanted to find out good locations in Phoenix for buying rental properties for investment. I would like to spend a max of $100k per property and buy
2 properties - 3 Bd, 2 Ba.
Any advice you could give me ? Thanks. Raj

Help the community by answering this question:

Answers

17
BEST ANSWER
Rajiv,

85048 is a sought-after location for rental properties- good school system, excellent shopping and proximity to the freeway system are stated reason. The surrounding area-85044 is also renting well. I have been working in the Ahwatukee area since 2002.

Read my Ahwatukee blog on http://www.theeastvalleyteam.com for the latest stats. Email me if you have additional questions.

Have a great day!
0 votes Thank Flag Link Tue Mar 2, 2010
Raj,
Here is the definition of steering:
This term refers to the illegal practice of real estate agents only showing certain ethnic groups properties located in specific ethnic areas. An example would be showing an Asian family homes that are only located in Asian communities
Before you accuse experienced and qualified agents of steering, please understand the termonology. You asked a questioned and it was answered. If you would like further information about purchasing rental properties you can contact me direct.
Thank you very much Raj.
Sincerely,
AJ Stewart
1 vote Thank Flag Link Wed Mar 20, 2013
The answer to that question is very subjective.

Many agents will answer that question, but they will only be giving you their personal opinion, or it is very probable that they might just tell you about the areas they work - which might or might not fit your needs. That is one of the reasons why "steering" (and answering that question) is illegal.

I will advice you to work with an agent directly, tell him exactly what you are looking for in terms of location, property size, local amenities, etc... And he should be able to tell you which areas fit your criteria. But a good agent will never label an area as good or bad, or try to steer you to the area they prefer to work.

You are welcome to visit my website where I have an area with some useful links to websites that will provide you with crime data, traffic info, school rankings, etc...

If you want to search the MLS directly you can do so by following this link: http://www.smartazrealty.com/ or
http://idx-lite.diversesolutions.com/Default.aspx?MasterAcco…


Good luck!

Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
http://www.SmartAZRealty.com
1 vote Thank Flag Link Tue Mar 2, 2010
June, A.J.'s answer was correct.

Steering in the sense of real estate pertains to steering of a protected class, race included. Copying and pasting definitions from 'ehow' and other sites and not connecting them with the subject matter is not a comprehensive way to get the entire truth across. After you copy and past portions, you need to make sure that you complete the quote in it's context.

If an investor asks an agent to recommend rental/investment properties based on certain criteria that has nothing to do with a fair housing violation, the agent would not then be 'steering' them when showing them property that falls into that criteria (price point/rental caps/bed +bath count.....). It is not steering to show people property listed in price range or neighborhood they have asked for.

A.J. answered the question correctly and gave a correct reply to your accusation.
0 votes Thank Flag Link Wed Mar 20, 2013
A.J., you have just demonstrated your lack of knowledge and familiarity with the subject. Racial steering is only one form of steering, but the practice of steering is not acceptable for any reason. Any kind of steering is illegal and non-ethical.

“Steering is the act of pushing any potential real estate client toward or away from a specific piece of real estate property or neighborhood.”

When you push someone toward a specific area you are “steering” that person. Real estate agents are subject to steep fines, the loss of their licenses and potential civil suits if they're found guilty of steering.
0 votes Thank Flag Link Wed Mar 20, 2013
Alicia, A.J., Lorrie and several others,

Doesn't your answer constitute steering and is against the law? Doesn't that also show a lack of ethics on your part? Aren't those really the areas you like to work and not necessarily what is best for someone else? Just saying....
0 votes Thank Flag Link Tue Mar 19, 2013
June;
I hope you noticed that the original question is 3 years old.
In answer to YOUR question; "Steering" would be any comment, positive or negative, relating to Race, Religion, Crime, etc.
If a Client asks us for the best area for ROI, or the best neighborhood to raise their kids; we can answer, no matter what our reasoning, as long as we don't say one of these things. We cannot be completly muzzled.
Flag Tue Mar 19, 2013
85042 would be the best bet for you. But you would have to spend 110-115.
0 votes Thank Flag Link Tue Mar 19, 2013
Hello Raj,
I deal with investment properties everyday, and right now I have an inventory of foreclosed homes that I can show you in Phoenix, all designed for cash flow, and many in your price range. Call me for more information and I can send you properties via email right away.
AJ Stewart
Veracity Realty Group
480-217-2167
0 votes Thank Flag Link Thu Feb 9, 2012
Rajiv, You can get vacancy rates, prevailing rents and other demographics info by running a city report at: http://www.PhoenixBankOwned.com . For all your management needs, contact http://www.AzRentalHomes.com . Feel free to contact web@azbol.com with specific questions.
Web Reference: http://www.ISellShort.com
0 votes Thank Flag Link Sat Mar 20, 2010
Rajiv, I work in the escrow and title industry with some of the best Realtors in the valley, I am not a Realtor so I can tell you that I purchased 3 foreclosure properties in N. Phoenix for approx. $70,000 each lat year. All 3 properties are in great areas, close to schools, freeway access etc.... From the other comments, it looks like you have the information you need to start your research. If you have any questions you can contact me directly. Good Luck sir.

Stephen Garner
Old Republic Title Agency
480-223-8113
MyTitleGuy@Me.com
Blog: http://www.MyTitleGuy.net
Web Reference: http://mytitleguy.net
0 votes Thank Flag Link Sat Mar 6, 2010
My partner and I are working with 3 investors right now and they are also buying single family homes for under $100,000. They started out in Surprise and now have worked their way to Buckeye, Avondale and Goodyear and now Queen Creek. These areas are far from downtown Phoenix but still affordable for many people. We have set them up with some property management companies to handle the rentals. Some of the homes they have bought were short sales and the owners wanted to remain in them and rent back which has worked out well. They prefer a 4 bedroom home or 3 and a den for better resale value so we have concentrated on those requirements.

Hope this info helps.
Lorrie Feld, ABR, GRI
Keller Williams Integrity First Realty
480-570-1074
lfeld@azrealtygroup.com
0 votes Thank Flag Link Tue Mar 2, 2010
The answers you have received are right on target. If you are interested in buying below market with tenants already in place send me an email at charles.wilkins48@gmail.com or call me direct at 877-897-4567.
Web Reference: http://wilkinscg.com
0 votes Thank Flag Link Tue Mar 2, 2010
Dear Rajiv:

If you are looking for areas that you can find under $100K homes and attractive to renters that commute into Phoenix you can search on the map directory for free with no registration to access MLS data: http://www.arizonahomesland.com/mlssearchinarizona.html

It will be extremely difficult to find many detached homes in good shape in Scottsdale, Paradise Vallley, Cave Creek, Carefree and NE Phoenix and around Camelback Mountain. Most other areas have a decent supply of homes in the under $100K price range. Start your search.

Generally, the closer into the Phoenix commute area the more renters will be available, with some exceptions. For example there are many renters in Tempe with the 60,000 Arizona State University studen population.

If I can answere any other questions for you, feel free to ask.

I hope this helps you.

Regards, Jeff

Jeff Masich, Realtor®
Arizona Homes and Land
http://ArizonaHomesLand.com
480-556-0940
JeffMasich@ArizonaHomesLand.com
HomeSmart Realty
0 votes Thank Flag Link Tue Mar 2, 2010
Rajiv,

As a licensed real estate agent in Phoenix Az. I can Not by law steer you to a particlar area. I can give you link to neighborhoods and information about areas you request to know more about so you can make you own decsion. There are good location all over the valley.

Here's a link to search school anywhere in the valley.

http://copwww05.phoenix.gov/WebPMO/Portal/EduYouth.asp

Phyllis JC Anderson, GRI
Liberty One Realty
602-316-0115

PS. You can search for home on my website without having to sign in at http://www.PhyllisJCAnderson.com
0 votes Thank Flag Link Tue Mar 2, 2010
Raj,
Here's where you can access the realtor's multiple listing service with no log-in required. It has the most up-to-date property listings.
http://www.cr-az.com/page5.html

Scott
AZ's REBATE Realtor
Web Reference: http://www.cr-az.com
0 votes Thank Flag Link Tue Mar 2, 2010
Rajiv,

We are beginning to see some strength in the rental market in many parts of Greater Phoenix. Chandler is showing very good signs as well as parts of Glendale and Peoria.

I just wrote an article on the strength of the rental market you can read at http://www.greateinvestmenthomesaz.com. If you would like help finding 2 properties in the 100K range, let me know and I'd be delighted to help.

In addition, we have a great home search tool on our web site you can use. It shows homes currently available through our MLS system and is quite informative on schools and other area information,

Best to you... Gene
Web Reference: http://www.urbanteamaz.com
0 votes Thank Flag Link Tue Mar 2, 2010
HI Raj,

Location depends on what you want to accomplish, your goals, exit strategy and what type of properties you want to buy.
You could buy condos under $100K near ASU in Tempe; single family detached older "cottages" near the light rail; single family detached newer homes on the outer areas of town (Buckeye,Goodyear,Avondale,San Tan Valley,Maricopa,Coolidge, etc.).
It's best for you to find a good Realtor to assist you who can analyze your goals to give you the information and assistance you need to make good real estate decisions. An experienced, full-time, exclusive Buyer's Agent can provide many benefits to you.

-----
PAUL WELDEN PLLC
480-241-0081
HomeSmart
Exclusive Buyer's Agent
0 votes Thank Flag Link Tue Mar 2, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer