Home Selling in 85718>Question Details

Investtucson, Both Buyer and Seller in Tucson, AZ

In your opinion as a real estate agent, what is the best zip code in Tucson to buy investment property in ?

Asked by Investtucson, Tucson, AZ Tue Sep 14, 2010

I've been buying in 85704, 85718 , and 85711. Thinking of getting into other areas as well, any advice will be greatly appreciated.

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12
Investtucson
There is no best zip code. Each property has to 'stand' on its own merit. Most of SFR (Single Family Residences) are purchased for rentals. Most renters are in "working class' category". So investor needs to take under consideration size of future rent and proximity of work places (also neighborhood appearance and crime rate). On the other hand, in today’s market there are fine properties for sale at better than reasonable price - and this may be deciding factor.
George in Tucson
Homes for sale – many! http://www.LuxuryTucsonRealEstate.net
Monthly Blog http://www.DestinationTucson.biz
Trulia - http://bit.ly/4tgwkU (Q&A, Blog/posts, Resume)
1 vote Thank Flag Link Tue Sep 14, 2010
What kind of investment properties are you purchasing in Arizona? What are the standard ROI's per year on a typical purchase?

Just an outsider looking in. :)
1 vote Thank Flag Link Tue Sep 14, 2010
This market is changing too rapidly to lock into a Zip Code. May have worked a few months ago but not today. You are buying. Are you holding and/or selling? If you are holding, are you managing or hiring it done? How far away from your daily activities are you comfortable owning? Really need lots more information on your long term strategy to answer this question.

Make it a great week!
Thomas Weddingfeld, ABR, CNE, DAD, GRI, SFR, REALTOR
Web Reference: http://www.Weddingfeld.com
0 votes Thank Flag Link Wed Nov 24, 2010
Depends on your strategy - 85719 has some good opportunities in smaller rental units, but not all of them cash flow like I would like to see. You've got to hunt around & pick through them, looking at value vs actual price w/needed improvements, if any.

There are some great opportunities in 85705 sometimes, and the SW part of town has been "hot" in the entry-level price point...but there is a lot of competition there.

My advice would be to not lock yourself into a particular area, but take a solid look at your investment strategy & stick to it. If a property meets your criteria, then have your agent look at the trendlines that have been going on recently on that street, block, neighborhood & general area. Don't turn down a good property simply because it isn't the zip code you're looking at.

Keep the performance you need first in your mind, the properties will present themselves if your agent has a good handle on what you're looking for.
0 votes Thank Flag Link Wed Sep 22, 2010
Dear Investor,

What type of ROI are you looking for? What type of investment property are you focusing on? Industrial? C-1? Multi Family? Single Family Residence? Strip Mall? Business? Appartment Complex.......
Cash buyer? Money Lender Loan? Conventional?
Do you have an exit strategy ready? How long will you hold the investment and what is your ongoing expatiation of the investment?
This question is too open ended to give a solid answer and besides I would never red line any zip code. Each area of Tucson has great investment properties, which investment type do YOU choose?

Nancy A Bailey, SFR, GRI, CRS
Keller Williams So AZ
520.907.8775
http://www.TucsonHomeStore.com
0 votes Thank Flag Link Wed Sep 15, 2010
Oro Valley, 85737,85755 ..... under 180K, built 1998 or newer .....
0 votes Thank Flag Link Wed Sep 15, 2010
I highly recommend areas around the UA, and keep it to walking/short bike ride distance, so the zips will be portions of 85719, 85716, 85705... but the better way to identify good properties would be by neighborhood. Work with a realtor who knows Iron Horse, West University, Feldmans, Rincon Heights,etc, and all of the differences between them, really well. UA students, grad students, and visiting professors will keep you rented without a vacant day, and are very reliable tenants.
Web Reference: http://www.susandenis.com
0 votes Thank Flag Link Wed Sep 15, 2010
It doesn't look like we are going to see homes appreciate for awhile. In our area, the market has stabilized over the past 15 months or so but I don't see homes appreciating for several years. I am not sure what your age is, or what your retirements plans are, but I am thinking the best answer is cash flow. Look at homes that are priced low enough so you can get them paid off in 15 years. If you can buy 4 in the next couple of years and apply an extra $100 bucks to the principal, you may be able to pay them off in 15 years. Pick an area that will return $1000 a month each and down the road you may receive $4,000 plus in retirement income..

PS I live in El Dorado Hills (Sacramento area) but my parents live in Dove Mountain. My husband and I Iike to stay at the Westin in Tucson. (La Paloma) A great area!!!
0 votes Thank Flag Link Tue Sep 14, 2010
85716 and properties near the University are best for re-sale and appreciation of value.
0 votes Thank Flag Link Tue Sep 14, 2010
Highest rate of foreclosure is usually an indication in the area of the best deals. 85706 and 85746.
Web Reference: http://www.DoubleATeam.com
0 votes Thank Flag Link Tue Sep 14, 2010
This depends on where you want to live, what you are looking for, and your preference. How much? Is this only an investment or will you live in the house? We bought in Colonia Solona (85716) and it has appreciated since and we love it here. There are too many factors and comes down to you. Feel free to call with questions, concerns or if you would like to view properties.
0 votes Thank Flag Link Tue Sep 14, 2010
85718- if you can afford it shows the steadiest and highest amount of apprecition consistently. Also around the UofA 85716,85719-but these areas have extreme pockets and you really have to understand the unique neighborhoods and histories to do well.
0 votes Thank Flag Link Tue Sep 14, 2010
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