Arizona investment properties are abundant at this time. Having sold properties in 4 different states, I can assure you that Arizona investments are by far the best for obtaining the maximum return on your investment! All the economic indicators are in our favor! Each year we seem to build more new homes than anywhere else in the country. Even in our worst year, 2007, we built 38,305 homes! Quality tenants are easy to find thanks to an abundance in jobs and unemployment rates that hover around 4%. With 500-800 new subdivisions being built at any given time, there is tremendous competition and resale rates that are following the builders lead.
Best Investment Properties
The best investments for future appreciation are single-family homes while furnished condos are fine for people that want to take advantage of a place to get away to. Vacancy rates are very low, an average of 7.61 for apartment complexes. Management fees are approximately 10% of money collected and leasing fees are typically 1/2 of the first month’s rent. Furnished condos will rent for $1200 per month off-season and $1800 to $2500 in season. They are sold for $180k to $250k plus an average homeowners association fee of $150 per month. Single family homes can be bought new or previously lived in for $250k or less and still make sense as an investment with positive cash flow or break even pretax with 20% invested.
Detailed Analysis Available
For a more detailed analysis let us know the amount of cash you wish to invest, your desired return, whether you are looking for appreciation for future growth or an immediate cash flow and how long you intend to hold the investment.