Updated over 6 years ago on . Most recent reply
Investing in 55+ community in AZ a good idea?
I'm interested in buying and renting houses in the Phoenix area (in which I live) The area I am looking in has several good schools plus a couple of golf courses in a 55+ community.
The average price for a 3 bedroom house in this area is $350,000. In the 55+ retirement community, I can pick up a 2 bedroom townhome on the golf course for about $280,000 or a 3 bedroom house in the low $300,000 range.
Since this is going to be my first rental house, should I start with the 55+ community since it is less money, or do I spend more hoping that the house stays rented year round because it is located near the schools?
Which one sounds like a better first investment?