Anyone buying in Globe, Arizona

[Jordan Glenn]

Hi everyone. Is anyone buying real-estate in globe Az? I have notice quite a few homes there that meet the 1% rule on Redfin. I am curious if that is because of high vacancy or an unstable population. If you invest in rural AZ for cashflow I am curious. As much as it is tempting to invest with turnkey companies out of state, if I can get in the car and drive to my units in an afternoon i would prefer that.

[John A.]

I'm in Sierra Vista (resident and investor).  A lot of the housing is tied to the military post and to retirees.  I think Sierra Vista has a lagging economy compared to the rest of the state.  The military is still downsizing, so the local economy is still feeling the pains of that.  

Sierra Vista is still a great place to invest. But things to consider: rent prices have been flat for a couple of years; the privatized housing on post is almost all new and competes against in town rentals; neighborhoods vary a lot in this town; SFH prices have gone up a little - but there are a lot of foreclosures in the area.

If there's anything I can do to help, let me know.  I also have a local facebook group "Sierra Vista Real Estate Investors".

John