1st time home buyer in Arizona is this a good investment
I put an offer of $275k and got approved my seller, its a single family home located in Phx,Az , in average neighborhood, close to schools, shopping areas and bus stops, its a 1,130sqft , 9k lot, 2-bedroom, 2-bath (extra large living room that can convert to 3rd room), from my inexperienced visual looks like it just needs that extra room, inside paint touch up and light yard work,most houses comps are selling and sold for more in that area, i believe it can easily rent out for $2500 a month , my realtor wants me to start the inspection process asap to not loose the house but i dont want to be out $500 inspection fee incase its a complete flop, plus , recently homes are going down especially in here in Az.
For now, im still looking at single family home opportunities.
Most Popular Reply
Zillow and Redfin are good starting points. I’d also check Rentometer and compare several similar rentals as close to the property as possible. Just remember active listings are asking rents, not necessarily what tenants are actually paying.
- Patrick O'Sullivan
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