So I am considering becoming a snowbird. I have family near Phoenix in Surprize and Goodyear. Would it be a smart investment to buy in this area?
We would only want to live here in the winter so I am not forseeing it being a good rental income for us unless we choose not to come down here for a winter. I guess I could offer it as a rental on airBnB during summer if anybody wants it... Thoughts?
I have some thoughts and experience with that. Your age? (just kidding, but there is a reason I asked).Many of the snowbirds want to be around other snowbirds and that means age restricted community. 55 and over with a couple waivers for over 40.
12 years ago, wifey and I bought a VERY small park model in Palm Creek Golf and RV Resort. It did NOT include lot. Our space fees started at around 4K per year. This year they were over 6K. We were still ok. This was on the 18th green of the course and we only paid about 60K for it. We never spent over 3 months in a year there and some years, no time at all.
Because of the location, it rented VERY easy to Canadians and Northerners. We always rented it enough to pay all fees and costs annually. We were able to use 3-4 months during the winter free. I like free. This season we rented to the same couple for the 3rd year and received $2400 per month, and we stayed in it 10-15/1-15.
We decided to consolidate 3 homes to buy and move to The Villages, FL (most fantastic place for retirees on earth, period.We got in the 50's when we sold AZ in Jan so really had a 12 year cash flow neutral situation with lots of great free fun and memories.
there are a lot of people buying here in the Villages and using as rentals. That seems to be successful for them, but I'm not one of those.
I think if you did it this way, it would be great. If you have other questions, shoot them my way. Rich
@Rich Weese Well, I am far from being allowed in an age restricted community, and when we have children they would be coming with us to AZ....
You able to rent it year round or just during the cold months?
The area of AZ you're talking about hit 123 last summer. Good temp for gila monsters, but not human beings. (here come the AZ members- I hear them coming.....)tic A lot of these retirement communities go down as much as 50% during hot months.
I had a realtor friend who rented to Snowbirds. He made enough in 4-6 months to let it sit vacant the rest of the year.
Which he pretty much had to do.
It is very management intensive- he did it himself. And had to be rented furnished.
If you are going to try to reverse the seasons, I am not sure how much luck you would have.
The Phoenix market is very solid for rental SFRs but that is for the traditional year long lease.
Yea, I figured it would not be a strong market for summer. Thought I would at least ask
Hi Brianna, I am a property manager here in the West Valley. One of my units is a 'snowbird' unit and not in an age restricted area. I am lucky to have a tenant in there for 6 months which covers me up until September however it is a reduced rent. The renters are about however it can generally be a lot more difficult to rent during the summer months. On the flip side many people pay over the odds to stay here during Spring Training and next year we have the Superbowl as well. Feel free to pm me if you want to chat more or have specific questions.
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