Looking to buy first rental in Casa Grande, Arizona

8 Replies | Phoenix, Arizona

hi, 

I am Looking to buy first rental in Casa Grande, Arizona. 

I am not sure if it is right time to buy for rent.

House is 68 / sqft in the area. 

Is it good buy?

What would be cash flow? 

Is rental market good in Cassa Grande? 

Any suggestions? 

Please let me know. 

Thanks for helping. 

Ken.

Originally posted by @Lucky K. :

hi, 

I am Looking to buy first rental in Casa Grande, Arizona. 

I am not sure if it is right time to buy for rent.

House is 68 / sqft in the area. 

Is it good buy?

What would be cash flow? 

Is rental market good in Cassa Grande? 

Any suggestions? 

Please let me know. 

Thanks for helping. 

Ken.

 I'm not sure what your question is but if you are looking for a rental in Casa Grande, a friend of mine might be interested in talking to you. PM me if that is your point.

That's a pretty decent price/square foot for Casa Grande, as long as it doesn't need a whole lot of work. I think Casa Grande is a great rental market, it's one of the only places you're getting at or close to the 1% rule in the Phoenix Metro.

@Lucky K. I also own rentals in Casa Grande that I picked up last year and this year and I like the market down there. 

In order to know if the property you are considering is a good deal, you will need to know the neighborhood, the comps, the amount of repairs needed and their costs, the amount you can rent it for, the financing you have available, etc. I recently purchased a property for 88k that only needs about 5k in work and the value will be 120k and will rent out for $975 on a lease option where the tenant will take care of any repairs needed. Over a 4 year period of time my partner and I should make around 25k each on the property when it sells.

@Ray M. From a wholesaler. Usually the wholesale prices don’t work for me. However, they lowered the price on the property and then I offered a little bit lower than that, and they need to close, so they excepted it.