Phoenix Arizona Investment Property with Oggy Karchev of Realty ONE Group

The hardest hit of all 20 cities on a year-over-year basis was Phoenix, where home prices plummeted 30.7% during the past 12 months. Las Vegas prices plunged 30.6% and Miami sank 28.1%.

Homes are selling for under 100K through out the Metropolitan Phoenix Market. The only question you need to ask yourself is:

Can this investment property be leased out for at least $600 per month?

That seems to be the going base rate for single-family homes in Phoenix Arizona.

For the most part these are not luxurious Cadillac homes, but overall good rentable condition: 1,400sf and above, stucco and tile, built 1995 or later, with back yards and garages. Phoenix investment properties of such attract good renters — $800 per month and above in most cases — and many of them will be appealing to owner-occupants on resale a short while after the market takes a turn for the better

Phoenix Investment properties make good sense when leveraged to the point where the rental income covers all costs to acquire and maintain.  Most mortgage lenders require 25% down for the best rates available today.  On a $100,000 Phoenix investment property purchase price, that means that an investor will need some $30-35,000 for down payment, closing costs, and repairs to make the investment home tenant-ready.  A $75,000 loan will most likely have a PITI payment of about $600.

"Don't be afraid to be one of the first in line to reap the benefits of this down, but not out Phoenix Investment Property market.

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