Hi everyone, I'm just getting started out as a new RE investor, and have begun research in the Tucson market. I was wondering if anyone was willing to connect or post your insights on the state of the market.
It seems that Tucson has recovered very nicely from the recession and budget sequestration, but curious if this growth can continue, as well as the fact that it seems building permits are increasing significantly.
Any responses are very much appreciated, and would love to connect with anyone with interest/knowledge in the area as well!
Are you still considering the Tucson market ??
Hey Alex, not sure if you are still looking at Tucson for possible investments but the market here is still strong and shows every indication of continued growth. Amazon is opening two new facilities here this year, Geico is hiring 700 people soon, CAT just moved one of their headquarters here and plans to expand that out, and the city is open to revitalization and development. What type of investments are you looking at purchasing here?
I am currently living in Tucson and am searching for deals. I am interested in residential rental properties.
Tucson market is slowly developing. I am working as a civil engineer so I work on infrastructure being built around town in this year and my company is bidding for projects for next year.
Also on the lookout for opportunities in Tucson:
SFH, < $215,000, minor property distress.
I’m out of state and still learning about the most sensible neighborhoods.
Stupid question: if the properties I'm analyzing are showing as cash flowing as negative as -$200 per month in year one (with 25% down), should I just be steering clear?
@Ryan H. , steer clear of any properties that aren't cash flowing for sure. The Tucson real estate market is competitive but it's not so competitive that buyers aren't purchasing cash flowing properties. Keep your eyes open to different lead generators such as:
tarmls.com, zillow, craigslist!, property managers, and a great agent to name a few
Keep analyzing even if they are bad just to work that muscle. Time to get the networking rocking and rolling.
Good luck and PM me if you need recommendations or just some Tucson know how.
Also checkout this site out to get good parcel data: zoning, property taxes, etc
Hi, first post. I live and work in Tucson, and am selling my house within the next few months. Bought in early 2012 for $110k, short sale, now nearing 100% appreciation. Definitely a seller's market right now. I've been looking for deals on MLS and other auction/REO sites, but seem few and far between. Investing novice, but still hopeful I'll find something.
I've been in tucson for a little over two years now and it definitely seems to be growing. Real estate is being snapped up - I just bought my first investment property here, and the only reason I got it was because I was able to see it before it went on the market and make an offer as soon as it went live. The seller got at least one more offer the same day.
That property is a sfr that is cash flowing nicely. There still seem to be some opportunities, but most of the best ones probably arent on zillow or the MLS.
I'm looking to buy again next year, and will be looking for a good agent or network with other investors to find another deal - hopefully a 2-4plex with good cashflow in the 250-400 range.
I Live in Tucson with a bunch of rentals. The opportunity zones are cooking and a lot of buildings are going up but deals are coming much harder to come by in my opinion, there are way stronger markets than Tucson right now to get busy in. Another thing... when this economy turns downward, you can get hurt quick and hard (if you don't buy right) because of the 2nd home buyers that will get spooked and the tourism industry will slow.