Vacation rental in Sedona Arizona Help
I’ve been looking around for an investment property in Sedona, AZ . I’ve been working with a realtor about where I can use a short term rental. I’m just curious if anyone else is currently renting there and if you have an advice . Is sedona a good area? My budget is 400k-550k . I’m looking to put a 20% down payment and hopefully net 25-40k a year after all expenses (including mortgage) . Does this seem possible or out of reach?
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Sedona has gone CRAZY over the past few years ... investors have jumped in everywhere and driven the prices up substantially. Not sure the returns will justify the high entry point over the next couple years. Just IMHO.
Phoenix, on the other hand, is very close to Sedona has has a vast market with all kinds of different opportunities. We are projected to add thousands of jobs here in the Valley over the next couple years. These are people who will need houses to buy and rent! I'm happy to answer any specific questions you have about AZ in general or Phoenix specifically.