REI in Tempe 85281

[Michael Shao]

Hello RE investors in Phoenix ! 

I was thinking about buying an investment property in tempe, probably near 85281. 

the idea is to rent it out to ASU students. My budget is about 100k to 150K, so probably a condo. 

I am looking for an approx 5% cash on cash return annually and wait for the appreciation. 

I am not from the area, given the current RE market, do you think this would be a good investment ? 

Or do you have other recommendations ? 

Any input is appreciated !

Thanks 

Mike 

[Ed Caldwell]

Not a fan of condos due to HOA potential problems and eats into returns. Rental market is strong in Phoenix and always good around th university if you can find them and set it up correctly so kids don't destroy it. Better returns around the smaller universities in Glendale you may look at as well as houses are much cheaper than Tempe and still strong demand. Let me know what your looking for and would be happy to send you links from the MLS as I am licensed and have rentals as well. Feel free to PM me.