Investing in Houses Near Phoenix

Advice for Potential Investors

2021 Could Be the Perfect Time!

This current year may may be a good year to purchase a rental property or a vacation houses near Phoenix. With inventory low, more people will be renting and waiting to buy until the market levels out. I do want to give you some important things to consider so you will make the best choice for you and your family.

If your goal is to find a rental property near Phoenix, here are some important issues.

Rentals always take a good bit of time to manage. Consider the maintenance requirements. There is always some level of plumbing, air conditioning and appliance upkeep required.
If you are advertising the property, you may need a website, social media accounts and so on. There will be a minimum of cleaning between tenants and often fresh paint and yard upkeep.
Property management companies can help but they will usually fall short of everything you need and can be expensive.
Make sure the areas you are considering are attractive to tenants. Are there business centers, good schools, hospitals and airports nearby? Think of what you would want in a rental property.
Check to see if there are CC&R restrictions against rental property. Many of the most desirable homes in and near Phoenix will have this issue.

Thinking of Vacation Property?

Vacation properties come with with there own set of issues. The best of these houses in the Phoenix market are generally farther from the metro center. If you intend to use the property and rent it out between your personal stays, consider these things:

Make sure you read any and all rules in the CC&R’s pertaining to renting and guests.
Be sure the vacation property is located where you and your friends/family want to go often enough to make it worthwhile.
There will be expenses for someone to handle check-in and check-out if property is not near you.
A regular cleaning between guests is a must and you should have someone ready on short notice.
VRBO and Air BNB can assist in some ways but you will want to be active in keeping renters coming in.

If you are investing in a Phoenix house or nearby vacation rental to flip it, measure your ROI closely. Talk to contractors and suppliers to get more insight on the cost of remodels and upgrades.

Here are Some Additional Considerations:

As an investor, you will want to closely look at the ROI. It is advisable to look at Arizona homes in the low to median price range. Doing this will broaden your market when it is time to sell. You are well served to stay with 3-bedroom, 2-bath single family homes if you are planning to rent or flip.

If possible, stay close to your residence if your going to be your own property manager.
Stay with one agent to handle all your searching, buying and selling.

Do not acquire a second property before the first one is earning money.
Don’t buy any rental that you would hate to manage. This is true even if you plan to use a property manager.
Be sure that you can afford to support the property for several months if need be.
Get every property inspected by a professional before buying it.
Never forgo title insurance.

I would be happy to help you find the perfect investment property!

Investment buyers looking for houses near Phoenix, often make the mistake of searching on their own and relying on the sellers or listing agents directly. Doing your search this way can really wastes your time. Also, if you work with one agent, that agent learns your preferences. That way, they will be looking for the right Phoenix properties for you.

My name is Penney Mullins. I am a native of this beautiful Valley of the Sun. If I can help you, please contact me at 480-907-4796. Check out my reviews at https://penneysellsaz.com/testimonials/