Buying in AZ for investment property

zubs

Well-known member
I use to live in AZ back before 2000 and last night I just got bored and started redfinning the Tempe area.
https://www.redfin.com/AZ/Tempe/154-W-5th-St-85281/unit-107/home/113783336

For $170,000 you can get a 1 bed 1 bath 666 sq foot apartment right next to the party zone that is Mill Ave next to ASU.
One could probably rent this out for $1000 ~ $1200 bucks.

I mainly looked up this area because I use to hang out on Mill Ave during the 90s.  It's college party central, a bit like downtown Fullerton but not as depressing.

I'm thinking you could rent it out to college kids.
 
During the 2004 and 2005 time frame, at my previous employer, I got a few buddies that into this ?investment club? and they were focused on three main area Florida, AZ, and Nevada. At this time Orange County and surrounding area was red hot. Irvine was untouchable because of the price forced them to look for that pot of gold on the side of the rainbow. Us guy all professional geek (coders) looking for investment because, we did not trust the equity market who had just witness the tech melt down of 2001 and looking very abyss. Housing out of CA was the answered. Needless to go further about history some of my friends, those held on all these years just recovered. Along the way was not so pretty. One of the renter was upset and intentionally set the kitchen on fire. And another one got cement pour down the kitchen drainage. Some had to short sale on their investment. A lot of lost sleeps for my buddies. I did not follow the herd. Luckily.
 
Does anyone remember AZDave from IHB?

Wonder where he is now? Probably married, has kids and is taking them tot lots.

#ThisOnesForTheChildren
 
zubs said:
I use to live in AZ back before 2000 and last night I just got bored and started redfinning the Tempe area.
https://www.redfin.com/AZ/Tempe/154-W-5th-St-85281/unit-107/home/113783336

For $170,000 you can get a 1 bed 1 bath 666 sq foot apartment right next to the party zone that is Mill Ave next to ASU.
One could probably rent this out for $1000 ~ $1200 bucks.

I mainly looked up this area because I use to hang out on Mill Ave during the 90s.  It's college party central, a bit like downtown Fullerton but not as depressing.

I'm thinking you could rent it out to college kids.

Why would you buy a cash flow negative house to rent out?
 
hello said:
zubs said:
I use to live in AZ back before 2000 and last night I just got bored and started redfinning the Tempe area.
https://www.redfin.com/AZ/Tempe/154-W-5th-St-85281/unit-107/home/113783336

For $170,000 you can get a 1 bed 1 bath 666 sq foot apartment right next to the party zone that is Mill Ave next to ASU.
One could probably rent this out for $1000 ~ $1200 bucks.

I mainly looked up this area because I use to hang out on Mill Ave during the 90s.  It's college party central, a bit like downtown Fullerton but not as depressing.

I'm thinking you could rent it out to college kids.

Why would you buy a cash flow negative house to rent out?

Some banking on pure future appreciation, very risky from here on out.
 
Compressed-Village said:
hello said:
zubs said:
I use to live in AZ back before 2000 and last night I just got bored and started redfinning the Tempe area.
https://www.redfin.com/AZ/Tempe/154-W-5th-St-85281/unit-107/home/113783336

For $170,000 you can get a 1 bed 1 bath 666 sq foot apartment right next to the party zone that is Mill Ave next to ASU.
One could probably rent this out for $1000 ~ $1200 bucks.

I mainly looked up this area because I use to hang out on Mill Ave during the 90s.  It's college party central, a bit like downtown Fullerton but not as depressing.

I'm thinking you could rent it out to college kids.

Why would you buy a cash flow negative house to rent out?

Some banking on pure future appreciation, very risky from here on out.

Exactly!
 
If you think we are near the top of the real estate market, the last places to buy right now would be areas that saw big price declines in the past downturns (Inland Empire, Vegas, AZ, Central Valley, etc).
 
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