Home Buying in 85029>Question Details

GCP2000, Home Buyer in 85029

Is this a good investment property? 1548 W SAHUARO DR Phoenix, AZ 85029

Asked by GCP2000, 85029 Sun Jun 13, 2010

Is this a good investment property? 1548 W SAHUARO DR Phoenix, AZ 85029?
What should i offer?

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9
This is not the best niehborhood in Phx. You could get 700 a month for a three bedroom there, but poorer people only as renters, with the problems that come with that- I know- I have lived in that area! If you live here in phx , and you are willing to police the place- you can rent it out, but if you lived here you would know about the "Mountainview /Sunnyslope" area, good people are everywhere- but this is a high crime/ run down rough are
2 votes Thank Flag Link Mon Jun 14, 2010
Multi family units can prove to be a great opportunity for investing!
0 votes Thank Flag Link Sun Jul 15, 2012
Thank you all for the information. All of you have been helpful and have made me learn more about investment and the neighborwood.
0 votes Thank Flag Link Tue Jun 15, 2010
Gcp2000
The determination of whether a home or in this case a multi unit building is a good investment is based on what you consider to be good. This place is listed for 99,900. It is 4 2 bedroom units. I don't know but if you can rent each one out for even 500 per month that is income of 2000 per month minus operating expenses. The listing claims average rents are 650, you might want to check other apartments, condos out in the area first. But if that is the case and you can pay cash for this place you would have a 2600 per month cash flow minus expenses. The rental market in Phoenix and surrounding areas is pretty hot right now many or my investor clients are adding to thier real estate portfolios right now because prices are low and rents seem to be stable and climbing due to the number of people defaulting on mortgages. So I don't know how you planned on buying this but if you were planning on a cash purchase you would have a solid cash on cash return of over 20%. Let me know if I can help in anyother way. You can use this search to look at the details of the listing just input the mls #4406453 in at the top http://link.flexmls.com/rgl6sbnw429,12
I hope this helps. If you are financing the purchase obviously you need to consider the interest rate and cost of the loan etc into your return on investment.
Kent Gagon
West USA Realty
602-980-5368
0 votes Thank Flag Link Mon Jun 14, 2010
Found this on trulia. Pretty similar to what you are asking.

http://www.trulia.com/voices/Rental_Basics/can_I_get_data_fo…

Here's what I look for in determining a "good rental"

-School zones
-Low crime/poverty rate
-Freeway/Interstate access
-accessibility to major services (grocery, bank, gas station)

Since I'm a realtor in Louisiana, I won't pretend to know the market out your way, but generally speaking, I think it is a good buying time across the board. With real estate investing, you win in so many ways:

1) Someone is paying off a home for you and perhaps create some cash flow
2) Your mortgage is dropping monthly.
3) Your value will rise (over a period of time)
4) Rents will increase, even in a slower market or at a slower rate.

Add to all of that interest rates being as low as they are and I think you have a solid case for investing. I have personally purchased 5 single family homes in the past 5 years and will continue til I run out of funds :)

Good luck and I encourage you to keep asking questions.

John J Mondello J, Realtor
Keller Williams
(225) 329-8119
"I find the house, you make it home."
0 votes Thank Flag Link Mon Jun 14, 2010
Thanks John, that helps! What do you think about rental market in Phoenix now and possible future real estate value?
0 votes Thank Flag Link Mon Jun 14, 2010
Congrats on your initial investment opportunity. I started about 5 years ago and have never looked back. Check out my formula for determining if a property is a good investment.

http://ohyeah75.featuredblog.com/

This should help you from a numbers standpoint to make a decision. Good luck and if you have any questions, I'd be happy to help.

John J Mondello J, Realtor
Keller Williams
(225) 329-8119
"I find the house, you make it home."
0 votes Thank Flag Link Mon Jun 14, 2010
I was thinking to rent it out.. I am a first time investor.
0 votes Thank Flag Link Sun Jun 13, 2010
We'll need to know more about what you plan to do with the property (rehab/flip, rental, etc) and you investing criteria (desired ROI, min PTCF, etc) to determine if it would be a good investment for you.

Although I don't normally invest in Phoenix, I'm also an investor, and I'm somewhat familiar with part of Mericopa county. So I'll wait for your follow-up post, and please feel free to contact me to bounce some of your ideas for this property off me.
0 votes Thank Flag Link Sun Jun 13, 2010
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