Investor · San Diego · Member since 2023 · 31 posts · 6 votes
What do people think about Kingman Arizona. For context its mainly retirement communities around 2 hours either way from Las Vegas and Phoenix. I'd never heard of it myself but my friend and his family have at least a dozen rental properties out there. You can buy a property there for around 200-300 thousand and rent for around 2000. So seems like a decent play for cash flow but not much for appreciation. Has anyone heard about Kingman?
@Tyler Condon I manage a few properties in the greater Phoenix, AZ area that are adult 55 plus and have great success with them. One was purchased a few years ago by an out-of-state owner who has decided to sell and has doubled in value. Along with doubling in value, it has had one tenant the entire time of ownership, in fact, the out-of-state owners have never seen the property. The tenant wants to stay another 2 years.
My other adult properties have often had long-term tenants. They don't tear things up, they don't party, rent is generally paid early, lots of positive attributes!! A couple of mine are in Mesa, one in Florence, and I just added one in Arizona City.
I live an hour away from Kingman and have a couple of friends that live and work there as well. Housing has always been super affordable there, and new construction has increased in recent years. I've never really done a deep dive in analyzing the area because it is a retirement community, median income is very low, and there arent a lot of jobs in the area. That being said, its probably still worth looking at the data at those prices
My best friend lives in Kingman with his mother. He tells me there is nothing out there. It's mostly retired people or people who have no money. There isn't much of an economy there. So why would you consider it? Only because it's $250K for a house?
That's exactly what I'm trying to wrap my head around. My friend has 3 rental properties there alone and when I asked him about buying more he said if he did buy it would be there. Maybe his investing style is just way more passive?
What do people think about Kingman Arizona. For context its mainly retirement communities around 2 hours either way from Las Vegas and Phoenix. I'd never heard of it myself but my friend and his family have at least a dozen rental properties out there. You can buy a property there for around 200-300 thousand and rent for around 2000. So seems like a decent play for cash flow but not much for appreciation. Has anyone heard about Kingman?
I have a client from CA that I buy properties for in the Kingman AZ to Laughlin NV corridor and yeah. It's bit of a specialty approach. The thing to know is that there are a lot of seasonal owners so, many properties that look "vacant" are actually held by out of staters from MN WI and IL. They seem to like the dry of the desert rather than the moist of So TX, and FL. Once you know the market, it's a nice gig.