Home Buying in Phoenix>Question Details

Dchang, Home Buyer in Las Vegas, Las Vegas,...

I'm considering buying some rental properties in Phoenix or Las Vegas. I'd like to concentrate near hospitals

Asked by Dchang, Las Vegas, Las Vegas, NV Sat Jul 25, 2009

since medical residents are generally good tenants. Opinions regarding Phoenix over Vegas? Also would need property management. Thanks

Help the community by answering this question:

Answers

7
Dchang,

The best place to start would be to get a top agent in each area. Have them give you some market statistics on value over the past year, rental information and any new changes that could be coming about in the community. It will require some research in both places before you could make an informed decision on which area to invest in. Check out my profile and if you would like more information please feel free to contact me.
Warm aloha,
Carra Riley
Web Reference: http://www.CarraRiley.com
1 vote Thank Flag Link Sun Jul 26, 2009
Congrats! Best buying market is 30 years. My advice is to watch what the big boys are doing. I have represented several large groups of rental home buyers, buying in Phoenix Area, from California and Canada. They are on a buying frenzy since they realize the market is rapidly turning, and have purchased over 200 rental homes. Valentine Sales & Management, with 35 years experience, can offer a turn key solution for you, wether your beginning and hands on or absentee and and very passive. We handle the Acquisition, Rehab, Leasing, Management and Strategic Disposition. I have suggestions re: the hospital theory and would be glad to discuss further. Not a bad idea , but be cautious.

Blessings, Dan Valentine, Broker-Owner
0 votes Thank Flag Link Fri May 6, 2011
Hello,

I have had some experience renting to medical students here in the Glendale & Peoria area.
They attend the Midwestern University. I am a full time real estate agent for Century 21 Desert Estates and have a property management company within my office. Feel free to visit my website at http://www.KathleenInArizona.com, to view homes for sale and learn more about me.

I think the Phoenix area would offer you more options since it is a much bigger area and draws medical students from all over the USA and abroad. ASU just expanded its nursing school.


Feel free to email me if you are interested in my services: info@KathleennInArizona.com

I look forward to hearing from you!
0 votes Thank Flag Link Tue Jul 28, 2009
First, I would check out http://www.goinvestor.biz to find wholesale real estate deals way below market value. Then once you find a great investment property you should contact http://www.gorenter.com to find a suitable renter for the property. I like your idea of catering towards hospital workers, but basic investment criteria should not be overlooked such as location, rehab, and cashflow. Smart investors today are looking for deals that cashflow and they can hold onto for at least 5-10 years!

Obviously first you must choose your location...both Vegas and Phoenix have some great deals right now, but in the end you must still find a neighborhood with good rental rates so your property can cashflow. Focus on houses under $125,000 in clean neighborhoods that need little rehab work. Call 602-512-4406 before you buy and ask about rental rates in the area. If you are paying cash or using your IRA to get the properties you will get the best deals because you can move quickly and pick up a good REO (bank owned home) or a discounted deal from a wholesaler like goinvestor.biz.. If you are an out-of-state investor I would definitely hire an Arizona property management company to maintain your investment...being an out-of-state landlord can be difficult and expensive!

There are so many good deals out there so get to know the area you want to purchase inside and out before you buy. Hope this helps...we wish you the best!
Web Reference: http://www.goRENTER.com
0 votes Thank Flag Link Sun Jul 26, 2009
Good Afternoon, I can't help you with Phoenix or Las Vegas but how about a couple of nice units in Show Low near the Hospital?
0 votes Thank Flag Link Sat Jul 25, 2009
Sounds like you have a great niche market concept. I am a big fan of targeting your audience and becoming an expert.

My best advice would be the downtown and central Phoenix corridor. The reasons are simple... a lot of options based on our base desire of being near hospitals. Phoenix Children's Hospital has a strong residency program, the ASU College of Nursing (the largest college in the US) is in this region, the ASU/UofA Medical College, Barrow's Neurological Center as well a several other hospitals are all within a few miles of each other. Plus, the region has not been as hard hit with foreclosures as some and shows good signs of both recover and future resale potential.

Our downtown/central Phoenix real estate blog site, http://www.urbanlifeblog.com, will give you more insight and information about this area as well as our investor site, http://www.greatinvestmentomesaz.com. Both sites are information rich with very little sales hype.

We hope this information helps you make an informed decision that will reap high rewards for you.
Web Reference: http://www.urbanteamaz.com
0 votes Thank Flag Link Sat Jul 25, 2009
There are a varity of great values in the area! It would depend on what you want to spend to select the right area! I would choose Phoenix over Vegas any day its a matter of preference!

There are hospitals in every area of the valley.

Feel free to contact me if you have any more questions!

Lucinda Tkach
Windermere Central
lucindat@windermere.com
0 votes Thank Flag Link Sat Jul 25, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer