Guess and let me know what do you think: which is which?
1. San Tan Valley, AZ - $ 69,900K 2. Scottsdale, AZ- $ 434,900K 3. Chandler ,AZ- 139,000K
I've been hearing requests from our potential investors and there's one thing that we all need to have clear first when we plan to purchase investment properties:
What are we buying these properties for?:
1. Maximum cashflow?
2. Maximum appreciation?
3. An optional second home for vacation?
4. Retiring there?
Each one of those purposes will dictate a different investment strategy:
1. For maximum cashflow we buy the most affordable property with the best rent- probably inpopular and further out areas that combine a good balance of both (like Queen Creek, San Tan Valley or Maricopa in the Phoenix Metro Area). at those neighborhoods we can buy for an average price of $ 75k with long term tenants already-in, paying an average of $850 per month.
See featured property in the picture - price for Carelocations' clients only:
$ 69,900, rents for $ 850.
2. For maximum appreciation we should buy closer to town and employers but then the purchase price would be higher and the rent not significantly better than in the other areas. For example: in Chandler (Intel location), Mesa, and Gilbert- purchase prices would start at $ 120K and rents would be around $ 1000 per month. See property on the picture in Chandler-
Purchase price- $ 139,900, will rent after repairs for $ 1200 max.
3. Second home for vacationing or retirement? Buy in the best areas- Scottsdale and N. Phoenix starting at $ 200k minimum for single family homes and renting at $1200- $1300.
See property in Scottsdale in the picture:
Purchase price: $ 434,900, rents for $ 2500.
Since most investors that would like to take advantage of the very low purchase prices in the Phoenix area are searching for one of the 2 first options- cashflow or appreciation, we will be adding more expensive properties to our investments areas in order to satisfy the expectations of those who would prefer the appreciation option with higher purchase prices.
During our upcoming tour on February 8th we will be viewing homes in the East Valley- good neighborhoods and affordable prices in Chandler, Gilbert, Queen Creek and San Tan Valley- starting at $ 70K to $ 120-130K.
Yours,
Naomi.
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