If you’re considering getting started as an investor in the Phoenix metro area or looking to expand your current investments, you may be wondering what advice you should keep in mind as you head into a new year. Phoenix is a great place to take up real estate investment, and the area is always looking for investors to buy up properties whenever possible. In order to have the best possible experience doing this, it’s important to understand your role as an investor and to understand a little bit about the housing market in the area, too. In no time, you’ll be well on your way to an excellent investment experience.
Phoenix as well as the surroundings areas suffered during the house crash a few years ago, and as a result, there are a lot of homes that have been left vacant or have otherwise come to be damaged. Because of this, you can find properties for sale at very low prices and put some money into them to rehab them and turn them into a great investment. Of course, this is the general principle of real estate investment, but it’s particularly feasible in the west valley, where buyers are looking for move-in ready homes to help make their transition to Arizona living even easier than ever before.
While there’s a lot more involved in renting out your investment property, you may see a more significant return on it if you’re willing to buy a home and hold onto it for rental purposes. West valley is a great place to offer rentals, and if you’re willing to take short-term rentals you may be in even more luck. Since this area is a favorite destination for snowbirds, you may be able to rent out your property very easily during the winter months when people are coming into town from other, colder parts of the country.
Just because a property is affordable doesn’t mean it’s a great investment. As always, pay close attention to location, the condition of the home and its neighbors, and proximity to amenities. Don’t forget that a good view goes a long way, too!
Are you looking for an investment property or a home to remodel to make it your own? Contact me or call 602-329-7782.