New construction with lender incentives?

[Kevin Lee]

Hey all! West coast out of state investor here looking to purchase my first rental.  I've looked at a lot of resales and with the high interest rates, I'm wondering if I would be better off purchasing a home that is new construction that offers "5.xx% fixed 30 year rates and 10k in builder credits." I was looking at the Queen Creek / Phoenix area.

I know this is not a BRRRR and won't make that crazy return on investment, but if I'd like to build equity and if I can cash flow $100 a month, that would be ideal.

Any thoughts or criticism would be greatly appreciated.  Thanks!

[Brian L Harris]

My experience with Lennar in Maricopa County has been very positive. They have different communities and price points.  There is a good community near the new chip plant ( world's largest chip plant called TSMC) called Cooper Leaf. $600's.  They build the same models everywhere so you have to pick the area of the valley you want to be.

I would also suggest you look at Meritage. Right now they have 30 year fixed in the 5% range for inventory that they can move by year end.