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rental potential around scottsdale

Looking to buy rental property,phoenix/scottsdale/pv area/ 150-200K.what is a good area with lot of rental potential.what is a good area with lot of rental potential
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June 17 2009 - North Scottsdale
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scottsdale is not currently a good investment market for rentals. While prices have fallen, particularly condos, let me share a deal a friend who was considering buying just got:

13 months lease at 810 a month on a two bedroom, with months 7 and 13 free. That works out to what? $685 a month? I advised her to take that and wait a year to buy!

 In that area, a 2/2 condo as nice as this rental will sell for 120K or up; throw in 200 a month in hoa, 50 for insurance, and at least 100 a month for maintenance/vacancy and what are you left with? 335 a month on a 120K investment? IF everything goes perfect? rental management will cost you 10%, plus 500 every time it vacates, and that's actually one of the better deals you can get, from someone who knows how to do this, not a lazy agent who just puts it on the mls!

vacancy is high and climbing, rents are under downward pressure...
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June 17 2009
This is an easy answer for our company. It's the 30k SFR homes. For the 200k you're willing to spend you can buy at least 6 homes, yielding 500 per month in rent. Compared with one home...best case scenario, 1350 p/month is lease...and that's if it has a pool. We are doing several deals a day for investors around this price range. 
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June 17 2009
 
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