Had a great time in Phoenix before Christmas and I would like to share with you what I learnt:
Prices in Phoenix keep rising, in the East Valley (Intel and most hi-tech) houses are sold with multiple offers, so the chances of getting a house from the MLS are smaller that they used to be...
Inventory is decreasing so if you are serious about investing- don't procrastinate!
My favorites for January:
1. 4bedrooms/2bath- 2290 sqf in Tolleson (popular suburb, close to Phoenix).
Built in 2005!
Seller's price: $99,900
Repairs: 8,500 (already completed)
Renting out: no additional fee.
Total purchase expense: $108,500*
Rent: $1050
Pics: http://gallery.me.com/refaelinvestments#102320&bgcolor=black&view=grid
This house is one of my favorites because of the spaciousness of the kitchen and living areas.
The master bedroom and bathroom are huge! Tenants will love it!
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2. 3 bedrooms/2 baths, 1340sqf in Laveen, AZ (nice suburb West of Phoenix).
Built in 2005!
Seller's price: $84,500
Repairs: $ 5,500 (already completed)
Renting out: no additional fee
Total purchase expense: $90,000*
Rent: $ 900
The reason I like this house is because its beautifully remodeled and in a very nice community 10 minutes from downtown Phoenix.
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3. 3 bedrooms/2 bath, 1532 sqf in Queen Creek (East Valley).
Built in 2004!
Sales price: $94,900*
Est. repairs: minimal
Rent: $ 850
I like Queen Creek and San Tan Valley because the communities are beautiful, prices reasonable and tenants very stable!
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* Closing costs to title company need to be considered.
Feel free to contact me for additional information at: naomiesal@gmail.com
