Market Conditions in Phoenix>Question Details

Robert, Home Buyer in USAF Academy, CO

What areas of Phoenix would be good for a SFR rental property and also a vacation rental property?

Asked by Robert, USAF Academy, CO Thu Jan 29, 2009

Is there much foreclosure activity in those areas and are prices low enough to cash flow positive?

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Answers

6
Robert, Take a look at some of the activity.....http://hud2.towerauction.net/cgi-bin/e7_select.cgi .......Hud

http://bankofamerica.reo.com/search/propertysearchresults.as…

http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ...search the bank Reo sites

http://www.bhgrealestate.com/Views/Look/Default.aspx ..info from public records, housing info, crime, schools..can break into neighborhoods or zip codes...

http://www.zilpy.com/ ...Check out the rental trends...........

Lots of information available to make an informed decision...Good luck, Dunes
1 vote Thank Flag Link Thu Jan 29, 2009
You should contact wholesalers that have properties for less than other homes in the market. A good wholesaler can get you into a home at least 80% of the home value.
0 votes Thank Flag Link Sun Apr 26, 2009
Robert,

There are great values through out the Metro Phoenix area.

Central Phoenix seems a good choice because of the new train system.

I have some investors that prefer Scottsdale.

Depending on the price range you would like to spend is what will determine your choices.

I have a lender that is getting buyers in with 20-25% down. Feel free to check on my website for his contact information.

Lucinda Tkach
Windermere Central LLC
0 votes Thank Flag Link Thu Jan 29, 2009
Robert,

It will depend on your budget and personal preferences. Look for an area of low crime, good schools and relatively good prices. There are several areas of the valley where you can have positive cash flow from the beginning. Please let me know if you would like further details.

Good luck!

Carlos
ABR - Accredited Buyer Representative
0 votes Thank Flag Link Thu Jan 29, 2009
I think the current mortgage market will require a 30%-40% down payment on a rental unit. It would be managed by a friend who lives in the area.
0 votes Thank Flag Link Thu Jan 29, 2009
Robert,

There are many opportunities for you to purchase and lease a home as an investor.

If you want positive cash flow, then it will depend on your payment and how much you put down to borrow.

There are Foreclosure and Short Sale opportunities everywhere.

As far as area, any area that has low crime for you would be good if you do not live here.

Are you going to have the home managed professionally?

These are just a few of the questions that need to be answered...

Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes Thank Flag Link Thu Jan 29, 2009
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