Did you know the demand for houses in Arizona is growing each year by about 11%? This is great news if you're considering investing in real estate as your investment is predicted to grow.
Arizona is a great place to invest because of its low state income tax and beautiful scenery. Plus, there are so many different Arizona properties to choose from.
If you've already made the decision to start investing in Arizona properties or considering it, you're in the right place. Here's a list of the best properties to invest in around the state.
Arizona Real Estate
There are many reasons why Arizona is a great place for real estate investors. Since 2009 the rental vacancy rates have continued to fall in Arizona.
In 2019 the United States vacancy percentage was higher than Arizona's, which is great for investors. Properties, on average, only stay on the market for 59 days.
This is another great sign for investors as you don't want your property to sit empty for too long. The longer it's on the market, the harder it is to sell, which will affect your profits.
Best Places to Invest
If you're looking for an investment property in Arizona, you might feel overwhelmed as there are many great locations. They're all unique and have something different to offer.
This may not come as a surprise to you, but Phoenix is one of the best places to invest in. Its population is growing, and it attracts many tourists every year, which is great if you own a short-term rental property.
Mesa is another great city for investors. The average time a property is on the market is nine days. This means if you're flipping or wholesaling, you can expect your property to sell quickly.
Population growth is important when it comes to investing. You want more people coming to the city where your property is, whether it be to rent or buy your Arizona property.
So far, in 2022, Tucson has a growth of 1.01%. It also has an amazing view which can be a great selling point.
Types of Properties
There are many different types of investment properties. Similar to location, you'll need to find the one that works best for you and your goals.
You may have seen house-slipping shows on TV, if that's sparked your interest, now is the time to dive in. You'll want to buy it for a low price, create a new look, and sell it for a higher price.
You don't have to start big, start by finding a property that needs a few changes. If you like it, your next project can be more extensive.
You should also consider wholesaling. You'll act as the middleman and won't ever take ownership.
Another great option is buying Arizona properties and holding them. You can do short-term rentals and offer your property as a place for people to stay on vacation, or you can rent it out for long periods of time.
Investing in real estate is one of the safest investments you can make. While it may seem overwhelming, it's a great way to make passive income, and it'll be worth it in the end.
Arizona properties have lots to offer. If you're ready to get started, we are here to help. If you're ready to learn more or have any questions click here.