Home Buying in 85239>Question Details

lrusinko, Home Buyer in Phoenix, AZ

What is the best area in and around Phoenix to purchase a rental/investment property? Max property value would be 300k.

Asked by lrusinko, Phoenix, AZ Wed Oct 24, 2012

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7
In my opinion, the best city to purchase an INVESTMENT property in is Maricopa. You can purchase a 3 bedroom, 2 bath home less than 8 years old for $115-130,000 any day of the week. If you are looking to spend your maximum budget, then going up to $250,000 even you could purchase somebody's dream home and get $1000+ /month in rent! The best way to buy an investment is a home in a high demand area and neighborhood, with nice community features and amenities, then pick the biggest dud in the whole neighborhood. Give the home some lovin'...paint it and do a few little things that nobody else took the time to do and you have yourself a solid rental that will rent out every year! If you can afford a home with a pool in Maricopa, purchasing in Rancho El Dorado or Cobblestone in Maricopa, the home will rent itself!

If you're still in need of help finding this dream rental property or any other ones, please don't hesitate to check out my Facebook page or shoot me an email any time!

https://www.facebook.com/ElizabethHuskeyRealtor
Elizabeth@DiamondbackRealty.com
0 votes Thank Flag Link Fri Apr 5, 2013
Hi Irusinko,
There are several area around Phoenix area that you can find good rental/investment properties. Gilbert/Chandler/Scottsdale are great example. Call or email me today and I can help you find that perfect investment property.
Thanks,
Grace Adewumi
Realty One Group
602-769-0890
gracea@realtyoneaz.com
http://www.house2buyorsell.com
0 votes Thank Flag Link Tue Mar 12, 2013
There are a lot of opportunities in the Phoenix Metro area within that price range. Some of my favorites include the Sonoran Foothills and Tramonto areas in North Phoenix. You get great value in these homes/communities and the rents provide a healthy return. You could also diversify your local portfolio by purchasing two 120-150k properties in different parts of the valley. I have clients who have successfully done this by purchasing a single family home in north Goodyear/Avondale/Surprise along with a condo in Scottsdale/Chandler/Gilbert and they have been happy with the results.

With the wide variety available in the area, I always begin by asking clients what kind of community amenities they want to invest near, what kind of property they have experience with (SFR, condo, multi-plex), and what kind of return they realistically expect. An agent with excellent knowledge of the area can then direct them based upon the answers to those quetions.
0 votes Thank Flag Link Wed Oct 24, 2012
Mandalay Homes has a community on 16th St. & Dobbins in the South Mountain/Baseline Corridor. Visit our website at http://www.MandalayHomes.com.

It s a great location, close to downtown Phoenix, at the foot of South Mountain, and Close to all the major cities. This is a gated community, starting at $300K for 2,250 sq. ft. Private pool included and very nice included features. Unlike what you get with most buiders, with Mandalay Homes, you don't need to upgrade if you don't want to.
0 votes Thank Flag Link Wed Oct 24, 2012
There are endless opportunities in the Phoenix Metro market right now! There are many different factors that can fall into an investment in real estate. An investment to some buyers means immediate cash return. Other investors want the greatest potential for appreciation. Some of the formulas that investors can use to reach these decisions are cash on cash return and Net Operating Yield. Investors can also use historical rates of return in a subdivision, projected growth in an area, geographic location, proximity to freeways, school rankings, and sports and cultural events as ways to determine if the home is a sound investment. Which of these criteria are most important to you when making the decision to purchase? Once you have pondered over these questions and you have your goals and plan laid out, then I can help you with matching your goals up against properties.
0 votes Thank Flag Link Wed Oct 24, 2012
I like Tempe, Chandler, Scottsdale and close to down town in all the areas.
We can discuss the own to rent ratio and how it can impact an investor decision.
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Wed Oct 24, 2012
I think most areas in Phoenix are good rental markets right now. Tempe is always a good choice since you have the university area there. Gilbert is popular. Kyrene schol district is highly sought as well. I have some investors looking in Peoria/Glendale area, and some in Maricopa, Queen creek, San Tan valley, although they like these areas out of the metro/urban perimeter most for flipping. Houses are more new, need less work and there were a lot of short sales to take opportunity of.
0 votes Thank Flag Link Wed Oct 24, 2012
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