Thoughts on the Real Estate Market in Arizona?

[Account Closed]

Hey everyone,

I am looking into property investment in Arizona however I am unfamiliar about the market there,

was hoping someone who knows the market well can share some insight.

What areas are prime for upcoming development?

I was thinking Phoenix or Scottsdale (Phoenix preferred), what is your take on the area for Buy-and-Hold or AirBnB?

Cheers

[Melanie Johnston]

Stuart you will find that the Phoenix Metro area is both a good buy-and-hold market and an awesome Airbnb market. Phoenix was just ranked #1 for rent increases in the entire country. And with all the sports, car auctions, golf and Spring Training, you will have an easy time attracting STR guests 6-8 months of the year. Then you have the flexibility to attract multi-month guests over the summer.

You mention a preference for Phoenix. There is opportunity for both types of investments for sure. When it comes to STR, Scottsdale is a well known vacation destination so people naturally flock here.

If you wanted to start small, I would suggest a Scottsdale condo or SFR neighborhood that allows short term rentals, if that's the route you go. I have a Scottsdale STR and I have gone from 3-night minimum to monthly stays in the winter. Lots of demand from Snowbirds and easier and less costly to maintain and manage.

Guests who pay $5800 a month for a STR tend to take excellent care of your property.

So much more to share! You'll get some great responses to this thread. I'm happy to share specifics of my STR and suggest some Scottsdale neighborhoods to investigate, if you want to go that route.

Melanie