Hello all,
After 3 introductory postings I would like to share with you 2 opportunities that I picked and represent 2 different ways of investing in AZ:
- House in foreclosure to be purchased from the bank with minor repairs and need to market
for renting, or
- house that has already been remodeled and rented and in the market for sale to investors.
1. Single family home in Maricopa, AZ * (35 minute drive from Phoenix): 3 bedroom/2bath, built in 2005, 1480sqf. ( 130 mr2) in a beautiful community with golf course and mountain views. Asking price $ 67,500. Negotiable with the bank as this is a foreclosure and in excellent condition. Can be rented for $700- $750 per month.
Approximate cap. rate based on an estimated closing price of $ 62,500 : 9.5% !
Contact me for video and additional detailed information about this property.
2. Single family home in San Tan Valley, AZ* (45 minure drive from Phoenix):
3bedrooms/2 baths, built in 2003, 1440sqf and completely remodeled and in a well maintained community. Asking price $ 72,500, excellent tenant already in for 17 months at $ 700.
Cap. rate: approximately 8.5%.
Contact me for additional information about this property.
*http://http//www.maricopa-az.gov/vns/index.php/welcome-to-maricopa/about-maricopa
* http://http//en.wikipedia.org/wiki/San_Tan_Valley,_Arizona
Coming up in my next post: Why do I choose this specific suburbs of Phoenix?
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