New Construction in Surprise, Az

[Angelina A.]

Hi All,

I’m a SF Bay Area newbie investor seeking my first rental property in Phoenix.  I’ve been priced out of the SE Valley, which was my first choice and now looking at the new builds in Surprise.  My concern about the new builds in Surprise is that the area looks like a bedroom community, far away from the city center and kind of rural. I am concerned about vacancy. 

Has anyone invested in this area? I’m talking about the Lennar, DR Horton, Fulton, etc new builds.   Please let me know your insights on this area.

Thank you!

[Andrew Garcia]

Hi @Angelina A., Bob gave some great insight.

You are certainly buying at a time of record-high prices and rapidly rising rates so I am glad you are aware of that and are taking precautions.

Since you are investing out-of-state make sure that you have a rock-solid team. I am sure Bob has some good recommendations.

New builds are a great strategy in my opinion since they have fewer monthly expenses. Lower maintenance, less cap ex, lower insurance premiums.

Hope this helps! Let me know if I can be of any assistance.