And some of them die every year. I grew up in NM, and Phoenix scares me.
Tucson and Phoenix are destined to become a 20 million population mega city…just like SF SJ and Sacramento
In a few years, if you don’t kick the can, we’ll read “oh, why didn’t I invest in Arizona”.
I know this might be vague @Elt1 - but what zips in Phoenix are good for investment ( low crime, close to freeways, etc?
I think it depends on the price range and what things you are looking for besides low crime, close to freeways, etc. For my price range (and hopefully better appreciation), I am focusing in on Arcadia. I’ve never been to Arcadia but it’s where many people living in Phoenix area have pointed out as one of their favorite places to live. I’m going down in 1 month to look around a bit.
But, Chandler and Gilbert are certainly good places to look for family oriented areas.
Another thing too, there sure are many Socal people making a move to Phoenix when reading a city-data forum.
Story on Phoenix area…
See my story on Foxconn and Wisconsin???
We spent some time in Western Phoenix in February this time and got to see many homes. I could not believe how nice some of these homes were at around 400K. Our agent there told me to invest in non age restricted areas for wider access.
The traffic going from central Phoenix to western suburbs are not good at all though. But, you can certainly find better values near Surprise.
The city is super clean - such a change compared to CA.
Did you guys end up pulling the trigger? Can you share CAP rate there for SFH?
Chandler could be a good launch pad for the MFH phase of your investment career.
Yea who is interested to go for bus tour there?
I will go. We can get the VIP tour of the building we just built.
Not yet. We are visiting Austin and Dallas areas in May to look around as well. This will give us more ideas.
But, I do like the Phoenix areas a lot. Clean city, not much homeless problems, good looking homes at good prices (wages lower), good access to decent medical care, 3 Asian markets, etc.
My quandary is whether to hold on to our Svl property longer for more appreciation (we used up our depreciation for SVL in 2017) or pull the trigger and do a 1031.
My young aro30 nephew who just recently relocated there did buy an investment property though - it is in contract now.
Thanks @Meguro for all this research. What are the property taxes like in Phoenix area? Is it as high as Texas?
much lower. Also if you are a senior, it freezes and will not go up if primary home according to our agent. https://smartasset.com/taxes/arizona-property-tax-calculator
That’s crazy. Less than 1% of assessed value and values are so much lower. Also, their highest income tax rate is 4.54%. This really makes you wonder what CA does with all the money.