As apposed to holding and renting out
2007-06-05 09:02:43 · 5 answers · asked by fab 1 in Business & Finance ➔ Renting & Real Estate
Phoenix is a great market and is rapidly expanding, I would buy and rent a year or two there then flip.
2007-06-10 16:08:35 · answer #1 · answered by Dan the man 3 · 0⤊ 0⤋
Phoenix did have a big boom a few years ago because rich people from California were coming to retire. The market isn't as good now, but I think it is still a good market. However, it would also be good near ASU to rent houses out.
2007-06-06 18:07:55 · answer #2 · answered by Lowa 5 · 0⤊ 0⤋
Any market is good for flipping homes, as long as you can find a property which, when any needed repairs are completed, you can sell for more than you have invested in it.
In other words, get a working knowledge of what is going on in the Phoenix area. If sale values are dropping, that's not a good sign.
2007-06-05 16:12:40 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
If you know the market, you can make the market fit what you are trying to do. It makes sense to, if one can, to purchase, renovate, rent to recoup reno cost, sell later, see greater profit. The key is to keep a renter in the property.
2007-06-11 20:38:35 · answer #4 · answered by David L 2 · 0⤊ 0⤋
The best thing you can do is contact a local Realtor who knows the market conditions for the Phonenix area. Also they can help find you good properties for investment and help you to secure your mortgage thru refferals to lenders they know and trust. If you don't already know of a good agent I would be happy to reffer one to you that works in the area. Email me at srmheath@yahoo.com if you are intrested, best of luck to you!
2007-06-05 16:11:55 · answer #5 · answered by Rosie 4 · 0⤊ 0⤋