All Forum Posts by: Pamela Sandberg

Know the area. East Mesa has a ton of job growth projected over the next 3-5 years, mostly in healthcare and tech. (They are developing a "tech corridor" along Elliot Road that will have data centers for Google and Apple.) If you can find a house that works for you that is also near these jobs, you will be primed for the rental market in a couple years. Happy to answer any questions!

Happy to answer any questions about the Phoenix area!

You should also protect yourself with plenty of homeowner's insurance coverage and possibly putting the house in an LLC/trust. Requiring renter's insurance can also help protect you from claims of damaged property.

I second everything @Account Closed about the Phoenix markets. Lots of positive here! I will warn you that MF is a little tough in this market - lots of competition for little inventory. But there are great investment opportunities throughout the Phoenix area. Happy to answer any questions I can!

@Sippy Hira: Happy to answer any questions you have about the Phoenix area!

Glendale has good pockets and rougher pockets - you'd really want to vet the area before committing to a particular location. I wouldn't go too far from the campus if the goal is for your fiancee to live there for school. The closer you can get to the stadium and Westgate, the more attractive it will be on resale. Happy to answer any questions you have about the area! 

AZREIA is the biggest group here - lots of great events, advice and networking. @Shiloh Lundahl also runs a fantastic meetup group in the East Valley! 

The best advice I can give you is to consult with a foreclosure attorney and follow his or her advice EXACTLY. Legal foreclosure is a tricky process, and if you don't do it exactly by the book, you have to start over from square one. I believe you can give the owners a financial incentive to move out rather than foreclosing, but check this with an expert on foreclosure law. If you can do this, include a provision that the premises shall be maintained in current condition. That will give you added protection against damage to the property.

If you're happy in Tucson, you should definitely look up in the Phoenix area, too. Investors here are crushing it with STR (especially in tourism-heavy areas like Scottsdale). We've got some of the fastest rising rents and best appreciation in the country. And as you've probably already discovered, managing OOS properties isn't as bad when you're just a short drive away. OC to Phoenix is only about a six hour drive or so!

You mention that you are renting - that is guaranteed to get you a negative ROI. For a personal residence, I always recommend buying rather than renting when possible. The other important thing to consider is what will happen with the Phoenix market in the coming years. Yes, it is hot now. But that doesn't mean we're in a bubble that is about to burst. On the contrary: job growth projections here are huge. The analysts say that we won't have enough housing supply to meet the demand of new residents over the next coming years. So even though the market is hot now, the next couple years are projected to be hot, as well.

Just my two cents. Happy to answer any questions you have about Phoenix!