Newbie Question - North Scottsdale AZ

[Christina Kang]

Hello! Questions for investors regarding the N Scottsdale/Grayhawk/surrounding areas.

Quick intro - My husband and I are newbies and actively learning about REI. We both have stable jobs and like many, planning for the future with goals of achieving passive income and financial freedom. We want to use our income from our jobs to invest. We are relatively new to the area. We want to start with buying a residential home (3-4 beds/2+ bath 2300-2800 SF) for us and our 2 young children to live for at least a few years with the plan of holding and then renting it out in the future. We know prices are high in the N Scottsdale/Grayhawk area with likely low cash flow, but this is where we would like to live temporarily. We want to find something that would still hold value after 3-5 years.

What are your thoughts on renters perspective and desirability with regards to: 

1. East/west facing ? 

2. View of power lines ?

3. Backyard view of shopping building?

Also, what are your thoughts on the Anthem area for immediate investment? Or any particular areas you recommend ? Would prefer to start with SFH.

Thanks in advance for helping out some newbies! Appreciate any advice and feedback. Hoping to meet some of you this pandemic! Stay safe and healthy.

[Bob Okenwa]

Hi @Christina Kang. Welcome to Phoenix and BP!

The Grayhawk part of Scottsdale is awesome. Terrific mountain and desert views, much quieter than regular Scottsdale, and still not far from restaurants and shopping in the Kierland area either. I've spent a good amount of time in that area and absolutely love it. Also, at some point you have to get a bite to eat at Mastro's up there. It's amazing. 

As far as your questions go:

1. Renters tend to not be as picky as buyers, but if you have the opportunity to get a north/south facing home, do it. It helps with the hot summers we get.

2. I'd also look to avoid a power line-facing view if possible. In that area and at the price point you'd be renting it at, that may turn off some potential tenants. People up there expect a living situation that reflects the ambiance of the surrounding area.

3. How close is the shopping building? See point #2. Some people won't mind if it isn't too close, and others would prefer views of the mountains or even other homes over that with a commercial building staring them in the face.

As far as Anthem goes, stay on the East side of the I-17. My wife sold a home there last year and she had multiple offers in the first 24 hours. It's a pretty nice area but it's a little bit north of the city and out of the way. Newer construction everywhere for both commercial and residential and there is lots to do with community centers and hiking trails and golf courses. Not as expensive as Grayhawk, yet not as fancy either but still a good place to live.

If you have any other questions, let me know!