Looking at communities outside of phoenix - anyone have any comments or experiende in Glendale, Surprise, Chandler, El Mirage, Peoria? Know anything about economic development in these areas? I believe the rental market is quite soft…any tips, advice, is appreciated!!! Thanks.
I have been looking in the Phoenix metro area as well, but lately, it seems more difficult to make the cash flow work. It is do-able though, I am sure. Also, the West Valley (Glendale, Surprise, etc.) is starting to take off, though the values and time to rent up lags behind the East Valley (Chandler, Gilbert), based on what I have seen. Hope that helps.
Yes, this helps. We’re finding out the same info. Of course, we’re still going to buy a couple of properties. Maybe 1 in east valley and 1 in west valley. We’ll see how it goes. Good luck!
Have you considered retirement communities? I have 2 rental properties in Sun City and Sun City West. The major advantage is LOW property tax, about $600 per year on $130,000 assessed value. Renters need to be at least 55 years of age, and they are great tennants. Also, Sun City houses have increased by about 30% last year. You can still find houses at about 140K, which can rent for $900 to $1300 depending on the season. Not the same cash flow as other communities, but great for long term investment.
Thanks for the tip! We may look into it. When we were there, we drove by sun city but didn’t really consider. It’s good to hear that it can work. Good luck with your investments.
Hi, Ive also heard that the Casa Grande and Coolidge area are coming into their own. Casa Grande is growing fast with new housing build continuing for the next 2 years. I’m thinking of picking up a new build somewhere there before prices go up. Just a thought.,
UM…YEA! Phoenix real estate almost anywhere is out-of-control and it looks like it will be good to go for a while. I went to the economic outlook for 2005 and Elliot Pollack gave an excellent rating for continuing growth. New homes are a great bet if you can get past the investor’s affidavits; however, one new home seller told me how to get around all that. I like Scotts because its getting to be land-locked unless you move way out there (seems like you’re right next to the Grand Canyon…just kidding, but you get the point. We picked up about 2.7 million during Sep-Oct time frame and already turned about 550K. Good time to be in Phoenix!!! I just had a guy come to one of my groups and he has made 80K in 6 months in a house in Goodyear. Wow!
Also don’t rule out other areas like Oh, and Ga
We have been searching for some buys here any where in the valley. I would prefer fix and flip to rental. The prices have been climbing! Does anyone have any suggestions? We would like to buy at least 3 houses right away.