According to the old real estate saying, “The only three things that matter in real estate are location, location, location.” The fact is, an 8 bedroom, 5 bath home, with an updated kitchen and a swimming pool that is sitting close to a busy road is not desirable to many people I know. On the other hand a somewhat quirky dated Fountain Hills home sitting on an acre lot with mountain views could warrant multiple offers. So you can see the location plays a significant importance in determining where to invest in real estate.
What is it that makes the location of one Fountain Hills property more desirable than another. Well that depends on your wants and needs and as we say “to each his own.” Property that is totally undesirable to one might just be the next person’s dream. When working with investors, location is just half of the equation. Investors care about location but they are more interested in making a profit and getting the best return on their money! This will be a secondary home for them that they may possibly rent or flip for a quick profit.
If an investor is going to purchase a property with the intent of renting it, find your rental market. Are you looking to rent to families, students, or urban professionals? One option to consider is renting to part time residents that visit annually. In prime season, the population of Fountain Hills gets a boost with “snowbirds”, looking to rent for 6 months out of the year. You may also consider buying in urban areas such as Phoenix or near Arizona State University in Tempe AZ. Investors who have the required skills to make repairs and renovations to run down properties themselves, are in a better position than most. If you want to do the work you can pick up some great real estate deals that have been disregarded by home buyers who aren’t willing to buy a fixer upper.
Convenience is another factor when considering the desirability of the location of a property. Buying properties near shopping, schools, restaurants, and golf, are usually a safe bet for finding an abundance of rental prospects. People also want to live close to work and where their children attend school. Being near bus routes and the light rail is always an added plus especially with the rising cost of gas.
Today is one of the best times in history to buy real estate. Low interest rates and lots of inventory give buyers many option. Looking to invest in Fountain Hills real estate or any of the surrounding areas, email me or call/text me at 480 888 6708 and lets get started.