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Updated almost 6 years ago on . Most recent reply

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24
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6
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Dana Vijum
6
Votes |
24
Posts

Investing in 55+ community in AZ a good idea?

Dana Vijum
Posted

I'm interested in buying and renting houses in the Phoenix area (in which I live)  The area I am looking in has several good schools plus  a couple of golf courses in a 55+ community.

The average price for a 3 bedroom house in this area is $350,000.  In the 55+ retirement community, I can pick up a 2 bedroom townhome on the golf course for about $280,000 or a 3 bedroom house in the low $300,000 range.

Since this is going to be my first rental house, should I start with the 55+ community since it is less money, or do I spend more hoping that the house stays rented year round because it is located near the schools?  

Which one sounds like a better first investment?

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