MTR near Surprise, Arizona

[Sarah Cross]

Curious if anyone is having success in renting MTR’s in or near Surprise? We are still in the remodel phase before renting out. 

Thanks everyone!

[Alyssa Ritchie]

Hey Sarah!

Our experience up here in Anthem has been that most mid term renters only want to stay late October-March/April. We did get a lot of under qualified applications that wanted Long term, and ours was also fully furnished. Maybe if you connect with someone who has contacts with insurance companies or use furnished finder you may have a better experience. Ours was fully furnished. Hope this helps!

[Noah Corwick]

Hi Sarah, 

I honestly have not purchased a rental in Surprise yet (though I want to at some point). 

But in my opinion, Surprise is an appreciation play. If you believe the hype surrounding it: the affordable new construction being worked on, the expansion of the 303, the large corporations opening up facilitates bringing in a ton of jobs, etc., then it could be a smart move. 

I personally feel you that if you believe in Phoenix's expansion, buy now and reap the potentially great rewards 5-15 years from now. Basically I wouldn't go into it at this exact moment in time as a cash flow play. Obviously I'm sure you can find deals that indeed cashflow, but Surprise smells of appreciation to me. 

Best of luck with your rental! 

[Don Konipol]

Quote from @Sarah Cross:

Curious if anyone is having success in renting MTR’s in or near Surprise? We are still in the remodel phase before renting out. 

Thanks everyone!

I owned a MTR in Tempe for 6 years, with almost 100% occupancy. This is because it was across the street from the main campus of ASU.  
Scottsdale gets a lot of play also because it has become a vacation destination.
Otherwise Phoenix area is a 7-8 month season, at best.  120 degree temperatures tend to decrease the areas desirability June - October

[Sarah Cross]

Thanks for responding - after much research, we bought into the hype of the growing valley to fuel our rental plans, plus the White Tank Mtns to hike and amenities nearby that we enjoy as well. I know it will appreciate and hopefully cash flow if only a little for now until rates drop again. 

[Noah Corwick]

Quote from @Sarah Cross:

Thanks for responding - after much research, we bought into the hype of the growing valley to fuel our rental plans, plus the White Tank Mtns to hike and amenities nearby that we enjoy as well. I know it will appreciate and hopefully cash flow if only a little for now until rates drop again. 

 Congratulations Sarah! I'd love to stay in contact and learn how it goes.