All Forum Posts by: Jonathan Paz

Hey thanks for the zip codes and recommendations! I did see some more options when I reduced my price range, but in order to use my 2nd tier VA loan entitlement it needs to be a loan of at least $144K... Personally I prefer the nicer areas and newer homes though because I usually do not have the time to deal with many repair issues/high tenant turnover like you would get with older homes renting to lower income demographics. Plus, the VA has some pretty strict requirements on the condition of the property.. SFR may be the best bet.

Thanks for the tips Adrian! I definitely have some more exploring to do. There are a lot of rural areas outside of the city and that is likely the way to go.

 I completely agree! I just did a city drive around looking at all the Multi-Families for sale and they were all C class.  I also saw the same duplex's you mentioned off of Camino Seco and 22nd listed for over $200K but only rent for $850 each unit (below 1%).  I do think that Vail gives a lot of bang for your buck as the homes are newer and fairly large, however it's disappointing that such beautiful large homes only rent for $1200.  I'm concerned that those large homes are going to require a lot of maintenance/repairs that will increase my overhead costs.  My other worry is over saturation of rentals.  I think the over saturation is great for buying a property for cheap, but I it's scary to see so many rentals on the market in that area.  Lastly, I don't think there is any sort of industry in that area so it's basically an all military community.  This could be good and it could also be really bad if Davis-Monthan AFB ever downsizes or shuts down.  Do you know much about development in that area? Something that may bring up home values?

@Adrian Watkins

I have also heard that Tucson is a good Buy and Hold city but I struggle to find properties that meet the minimum 1% rule (Estimated Rent/Purchase Price). It's either that rents are too low or prices are too high. Also I just did some driving around the city looking at areas that many of the for sale MLS Multi-Family homes are in and most of them felt pretty unsafe/ghetto. I'm from Miami Florida and for me to feel unsafe is tough, but a lot of these areas are old, run down, and full of graffiti. I think I might just need to be looking outside of the city of Tucson... Perhaps areas like the Foothills, Oro Valley, Vail District/Rita Ranch, Sahuarita, etc... All areas I have rarely go to but look pretty nice. I currently live on the far East Side and enjoy it here, but there aren't any Multi-Families in the area for Sale that meet the 1% minimum.

It's great to see this Tucson thread going! I'm a Florida native and have most of my real estate experience there, but I am now living in Tucson and interested in learning more about this market. I am in the military and would like to use my VA loan to potentially buy a duplex or 4-plex here if the returns make sense. However, my standards are pretty high and I would like to avoid some of the less than desirable areas and college students (U of A). I would like a property in an area that attracts high quality long-term family renters would be ideal since I am a Buy and Hold investor and live a pretty busy life with constant deployments, relocations, etc. Any help would be more than appreciated!

Hello BP!!! I have been browsing through your site for years, used your templates for my leases, and recently started listening to your podcasts!  I never stop learning from you guys and think it's time for me to start getting more involved with your forums and discussions.  

About Me: 

I'm in the Air Force and have been investing in real estate and working full-time for the past 4 years.  When I was stationed in Florida, I invested in some condos that have rented very well.  I relocated to Tucson, Arizona in 2013 and purchased a Townhome as soon as I arrived.  I average 2 property per year, have enjoyed self-managing them, and have future aspirations to make a living as a Buy and Hold investor.

Future Plans:  

I want to keep buying highly desirable properties that attract trustworthy middle-class renters. For my next acquisition, I want to use my VA loan towards a nice duplex or 4-plex. Since I will be relocating in 1 year to another base, I need to decide soon if I should buy another property in Tucson or wait until I arrive to my next base (location determined in December 2015). Buying another property in Tucson is definitely an option, but I am concerned with low rental rates and returns here in a city full of less than desirable areas... Is it just me or does Tucson not seem like a great location for a Buy and Hold investor? Maybe doing some more networking here at a Real Estate Meet Up will change my perspective.

Sorry for the long first post! :)

- Jon