What Phoenix Investors May Not Factor In!
“What Location, Location, Location really means”
· Schools: Often investors overlook the advantages to purchasing a rental property that is located within a highly rated school district. So many times I have met with rental applicants that say they are very interested in a particular property because it is located in a really good school district, or within close walking distance from a school. To research this subject more visit or . Oh another great up and coming area is our growing Arizona State University Campus extension that is growing with leaps and bounds in our downtown area, visit .
· Shopping: So many popular areas within the Greater Phoenix Metro areas are the result of being located close to trendy upbeat shopping areas; I like to refer to areas that meet this ranking as having a “Great Infrastructure”. This in turn brings the landlord a larger pool of potential renters that are willing to pay more in rents to be near these locations.
· Transportation: Many surrounding towns in the Greater Phoenix Metro Areas are lacking in fast convenient freeway access, this could be a big drawback when it is time to sell, but not a primary factor. Also another great opportunity for investors to capitalize on is our newest addition to the downtown transportation system, the Phoenix "Light Rail" system that runs from Mesa to Tempe (ASU main campus), Phoenix International Airport, Downtown Phoenix (ASU downtown campus), along the Central Avenue business corridor, and all the way through to Northwest Phoenix. I have had calls from young professionals that work in the downtown area and would like to purchase somewhere along the Light Rail. The rail is a direct shot into the downtown area. Downtown Phoenix is another one of those upbeat areas that people like to hangout and socialize.
· Swimming Pools: This is not a big concern when looking to invest in other parts of the country like the “Rust Belt”, but in Phoenix a property with a pool can often command $200 to $300 additional in rents. But along with a pool comes maintenance fees of $50 to $150 per month, unless you allow the tenant to perform the maintenance, I highly discourage landlords from allowing tenants to do this. The other issue with pools is liability, especially if the tenants have small children and the pool does not meet pool barrier laws.
I hope that this information has been helpful to investors looking to buy in the Greater Phoenix Area.
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