As some of you might now I have moved to AZ about 10 months ago and I'm incredibly happy here!
In those months I bought FOUR new condos and started renting them out as vacation rentals- winter AND summer. They are all rented 95 % of the time and bringing me a return of over 12% on my investment.
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| 2bedroom/2bath in Scottsdale- fully furnished |
Rents for $2700-$3000 monthly- December to April
Rents for $1100- $1300 monthly - May to November
Standard rent for unfurnished monthly would be $950
So why will I keep buying more and invite you- all investors- to consider this amazing source of income?
1. Scottsdale is the second largest destination for US retirees after Florida, who both rent and buy.
"Scottsdale,Ariz. had the highest percentage of people 65 and older among places with 100,000 or more people in 2010 (20 percent), compared with the national average of 13 percent. "Scottsdale, like much of Arizona, has attracted a large number of older migrants from other parts of the country," says Victor Agadjanian, director of the Center for Population Dynamics at Arizona State University. "
http://money.usnews.com/money/retirement/articles/2012/01/09/65-and-older-population-soars
This means we won't be lacking in both high-quality tenants and buyers in the next few years.
2. This last bitterly cold winter in the East and Midwest of the US is creating an unprecedented demand for rentals for the "high-peak" AZ season. My Scottsdale rental (picture above) is already rented for 8 of the 12 next months ( till march 2015) and I'm getting new inquiries everyday.
3. Scottsdale is the high-end suburb of Phoenix- with "vibrant red mountains and cacti-lined boulevards..., palatial resorts, hundreds of golf courses, a burgeoning bar scene...you'll see why this city has become a popular refuge for snow birds, families and 20-somethings alike." That's the reason why so many find it so attractive to visit, live or retire here.
http://travel.usnews.com/Phoenix_AZ/Travel_Tips/
Rents for $950 in the summer and $220-$2500 in the winter months.
Regular rent unfurnished- $800
4. Summer is coming to AZ and this is the low-season for purchasing real estate here which means: not too much competition, prices being reduced, properties staying longer in the market = bargains to be found.
So- why wait? This the RIGHT timing! Can be both- cash or loan.
5. Low operating expenses: Property taxes in AZ are low (1%) and even with $200 per month for some HOA's, monthly expenses will be up to $450 max. Very positive cash-flow if your monthly rent is $$3000 or even $ 1000 in the low season months.
See example: http://naomisrealestate.blogspot.com/2014/03/two-great-opportunities-scottsdale-az.html
5. Have I mentioned continued long term appreciation as a result of all this?
5. Managing rental properties is VERY time and energy consuming, because of the high renters turn-over, so I have developed an attractive business model that offers between 10% -12% annual returns at least for your investment and at the same time enables me to do the property management for you.
Sound interesting? Contact me for additional information and start packing your swimsuit....:-)
You are invited to visit us and see this short-term-rentals booming market and at the same time enjoy a relaxing, inexpensive vacation!
naomiesal@gmail.com
PS: I can only take 3 investors for this business model right now- so first come first served!
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Information deemed to be reliable but not guaranteed. Investors are advised to conduct their own due diligence before purchase.
