Investment in Prescott, Arizona

[Danielle Friberg]

Hi. We have the opportunity to buy four single family homes in Prescott, Arizona that are currently cash flowing. At a price of $525 for all four and $4800/mo in rent it misses the 2% rule. My parents live in Prescott, Arizona and it seems to be an area that has continued to boom, has low vacancy rates, and a bit of a shortage of rentals. I'd love to know if anyone else is looking at this area or has invested in this area and what your thoughts are on the market and 2% rule. 

-Danielle

[Gala Klein]

Hi Danielle, 

Just saw this post. I'm curious if you ended up purchasing those properties. I'm in Flagstaff, and just like here, Prescott has an inventory shortage. The town keeps growing but new-build is slow. It's hard to find anything that fits the 2% or even 1% rule, but at $130/each, that could be a good deal. Run the numbers, check expenses, and rent. Is there potential for value-add? 

Would love to hear more!

Gala