1% rule in Phoenix Arizona

[Kevin Bieber]

Hey all! I have been searching for a while and it has been tough to find anything that meets the 1% rule in the current Phoenix market.  I did however purchase a condo 7 months ago that is at about .8% and has been doing well so far.  I am actually planning to buy another one in the same complex with a similar return.  

All that aside, is anyone still able to hit the 1% rule or higher when purchasing in the phoenix area?

Thanks,

Kevin

[Eric Delcol]

"is anyone still able to hit the 1% rule or higher when purchasing in the phoenix area?"

We were saying the same thing two years ago.

We've switched focus to Tampa / Fort Lauderdale where the 1% rule is more realistic.

Florida and Nevada are the only two states (in appreciating markets) where average home prices are still below 2007 highs - they will probably surpass that this year.

We plan on coming back to the Phoenix market when rent to purchase ratios are better.