Where to invest in AZ?

Question

I'm a newbie agent with a wholesale brokerage in Phoenix. We buy and sell 25 to 35 deals a month. The East Valley is crazy hot right now but we're seeing a huge flux in areas like Sunnyslope and Maryvale. Do you buy in these areas? Do you prefer single family in certain places and multi family in others? Is it better to buy & hold somewhere and flip elsewhere? Do you like outlier cities like Willcox? Flagstaff? Havasu? What are your thoughts on the insane market spike in Arcadia? Please share!

Dryelle Medeiros · Answer

@Garrick Oconnell Hi Garrick! Not at the moment. But I'm in the process of getting my real estate license, so let me know if you are looking for anything in particular in the area. Would be glad to help!

Gail W. · Answer

We have been watching Havasu for a few years. We own a park model in a resort out on the Island that we AirBnB successfully, but wanted to do a long term SFR in town. Thing is, the prices have really gone up; Californian's buy cheap properties then flip them. But the market there isn't able to sustain these higher prices that require higher rents as the economy isn't adjusting along with them. They are doing it South OC style; higher end finishing and fixtures (think gray and white HGTV style)... and no one who works in this town can afford that. The backbone of this town doesn't care if the countertops are quartz; they want a solid home near a good school that they can afford. It's a tourist town with hard working families that rarely move once they find a great rental. They know how hard it is to find something permanent as everyone wants to do vacation rentals or snow bird rentals. And snow birds snatch up everything years in advance! The locals are starting to resent this and WILL leave. If they can't find reasonable rents they can afford on min wage, they have no problem moving to the next town in AZ. It becomes very transient. I, for one, would hate to see this happen as I love the town! So I want a very well priced SFR in a good part of town that I can rent to a nice, hard working family who will take care of it and stay put. But having a hard time finding that lately.

Garrick Oconnell · Answer

@Dryelle Medeiros Are you wholesaling any properties?

Dryelle Medeiros · Answer

Hi Nike... Starting investing in Flagstaff now. Love the area! :)