i heard somewhere to own a rental property, one must first be an AZ resident for two years..........any truth to that?
2006-08-15 05:31:06 · 7 answers · asked by bush-deathgrip 1 in Business & Finance ➔ Renting & Real Estate
Not true... I think the tax benefits change if you are a resident, though.
2006-08-15 05:36:37 · answer #1 · answered by woodwinman 4 · 0⤊ 0⤋
It is the mortgage people that want you to live in the house for a certain period of time or the developer. I work in a very large development in Texas...they require that you not lease your property for a certain period of time and so....everyone says sure....then guess what....................they lease it, AZ is where my daughters old boyfriend walked across the boarder there in Las Vagas, bought 9 homes, one for himself, and the others to rent out. So he could retire at 40. He did so.
Have fun...buy the place...then turn it for a profit, bank the profit buy another, or buy two. I wish I have the money to do so. Go for it.
2006-08-15 06:21:38 · answer #2 · answered by kickinupfunf 6 · 0⤊ 0⤋
Answer: Nope !
I have clients from a few different states that own in AZ, I would like to help, email me.
Antal
AToth@Surefastmortgage.com
2006-08-15 18:09:49 · answer #3 · answered by Antal T 2 · 0⤊ 0⤋
I don't think so ... I have few friends living in California and owns several properties in Nevada to rent out ...
2006-08-15 05:38:21 · answer #4 · answered by Little J 4 · 0⤊ 0⤋
do not think so but laws may have changed since I lived there.
2006-08-15 05:42:42 · answer #5 · answered by Linda L 3 · 0⤊ 0⤋
NO
2006-08-15 05:36:34 · answer #6 · answered by Lori T 2 · 0⤊ 0⤋
NO.
2006-08-15 05:37:58 · answer #7 · answered by skyeblue 5 · 0⤊ 0⤋