I’ve been doing a comprehensive search of premium-quality rental homes in the western suburbs of Phoenix. As always, I’m looking for newer, well-maintained homes in neighborhoods that can attract premium tenants now and sell at premium prices to owner-occupants when it’s time to move on. There are other rental-property strategies out there, but working with premium-quality tract homes seems to work best for out-of-state investors.
Why am I looking so assiduously right now? Because I think this might be the golden moment for rental home investors in the Phoenix area. Yes, home prices are still declining, but interest rates are starting to inch their way up. Every home I am looking at should be comfortably cash-flow-positive from the first tenant, but a lower purchase price later could result in a higher overall monthly cost.
The homes I’ve been looking at are all in Avondale, so far. Every one of these home should sell for $100,000 or less — in many case substantially less. Rents run in the $950 – $1,050 range, depending on location and accommodations. Most of these homes need some work, but many of them need little more than flooring and paint — and we can arrange any needed work by remote-control.
I’m not a pushy salesman, and I never want to be seen as blowing smoke up anyone’s nose. If you click here, you can see a projection of the costs and benefits to owning one of these homes. No one can predict when homes in the Phoenix metropolitan area will start to appreciate again, but these rental homes should be self-amortizing while you wait out the market.
Click on this link to take a closer look. You’ll find maps and MLS listings, along with detailed photos and a critical analysis of each home. I’ll be updating this site as I preview more homes, so you might check back periodically to see what’s new. Better yet, email me or phone me at 602-740-7531 and I’ll help you find your own premium-quality rental home investment.
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