Anyone buying in Globe, Arizona
Hi everyone. Is anyone buying real-estate in globe Az? I have notice quite a few homes there that meet the 1% rule on Redfin. I am curious if that is because of high vacancy or an unstable population. If you invest in rural AZ for cashflow I am curious. As much as it is tempting to invest with turnkey companies out of state, if I can get in the car and drive to my units in an afternoon i would prefer that.
Most Popular Reply
I'm in Sierra Vista (resident and investor). A lot of the housing is tied to the military post and to retirees. I think Sierra Vista has a lagging economy compared to the rest of the state. The military is still downsizing, so the local economy is still feeling the pains of that.
Sierra Vista is still a great place to invest. But things to consider: rent prices have been flat for a couple of years; the privatized housing on post is almost all new and competes against in town rentals; neighborhoods vary a lot in this town; SFH prices have gone up a little - but there are a lot of foreclosures in the area.
If there's anything I can do to help, let me know. I also have a local facebook group "Sierra Vista Real Estate Investors".
John