Brooklyn, NY · Member since 2016 · 24 posts · 4 votes
Does anyone have any knowledge of Arizona's market? I am looking to make a move and would like to know if anyone has did buy and hold deals in Gilbert Arizona?
I'm a Real Estate Broker that lives and offices in Gilbert, AZ. 18 years full-time real estate in Arizona, all in the SE Valley (Gilbert, Chandler).
Gilbert is a very healthy upper middle-class suburbia community. Its a little hard to make the numbers work many times and many investors end up in surrounding communities like Queen Creek, San Tan Valley, Mesa, Maricopa etc.
Gilbert is fantastic, rentals are in high demand, vacancy is very low, lots of great factors other than the purchase price makes the numbers more challenging. Appreciation has been strong since 2010.
Glad to answer more/other questions for you anytime.
I'm a Real Estate Broker that lives and offices in Gilbert, AZ. 18 years full-time real estate in Arizona, all in the SE Valley (Gilbert, Chandler).
Gilbert is a very healthy upper middle-class suburbia community. Its a little hard to make the numbers work many times and many investors end up in surrounding communities like Queen Creek, San Tan Valley, Mesa, Maricopa etc.
Gilbert is fantastic, rentals are in high demand, vacancy is very low, lots of great factors other than the purchase price makes the numbers more challenging. Appreciation has been strong since 2010.
Glad to answer more/other questions for you anytime.
I agree with what @Doug McVinua said. I live in Gilbert, AZ and I think it is a great place to live but it is one of the only city in the East Valley that I haven't invested in because of the prices of the homes and the demand is so high that I have had a hard time finding a deal there. There are deals to be made in the surrounding areas though. I have picked up 3 buy and hold deals in the past month that I am going to lease with a 5-year option to buy. After doing the numbers that seems to be my best strategy at the moment.
If you are looking to move to Gilbert, one investment option might be getting a house with a casita (that is what they call guest houses in Arizona). That way you can rent out the casita or even do an AirBNB or VRBO to help pay for your mortgage payment.
Even though the Arizona market is getting flooded by investors right now, there are still deals to be made, they are just harder to find and the spreads don't seem to be as wide as they used to be.
We have a team that is still finding deals to fix and flip for profit around in the East Valley.