Do you think Arizona is good for investing now? Need help
Hi realcandy,
I am somewhat still bearish on the American market and wouldnt be suprised if prices will fall again there. Especailly now that there is talk of a double dip recession. All their leaders are saying there in recovery and the problems are over, but really all the issues that cause the first recession have not been touched and in some cases have been made worse.A friend of myn recently wrote an article comparing the US market with ours.
http://propertytoolbox.com.au/property-update/?p=50I am currently investing in Southport on the goldcoast. There is currently an oversupply of properties there and alot of new infrastructure going in. So there are pleanty of great deals locally.
I like Kansas City, Missouri. Highest ROI's in the market.
James QLD especially the G.C has a bit of a history of boom and bust, with the slowing Aust economy the GC maybe a bit risky. From my understanding they tend to over supply and then everyone gets caught out. Happened to a friend of mine about 10yrs ago before the property market boom. Of course as it turned out if they had just sat tight they would have done well. Not so sure the market is going to bounce any time soon here in Aus for some time as way over priiced in comparison to wages.
Good roi’s in upstate ny, texas, and many areas of the Midwest USA (eg Ohio, Indy, Missouri as mentioned etc). There’s some balance required between roi (highest in Midwest, Atlanta and poorer states), and buying where vacancy rates are lower (eg Texas).
To answer the original question on Arizona – the reason it’s prices have crashe has a lot to with the post gfc recovery being weak there. They lost alot of companies in that sun belt region, and there is massive oversupply there. Someone on this board I think called it the buffalo of the south. Worth researching this yourself to see much merit lies in that.
I recommend investing in Kansas City. I find that on the Missouri side I have found really high ROI's for investors.
I have began selling properties from this market to over sea investors both being represented with a broker and without.
All properties are rehabbed, inspected by both a general inspector but by also a city representative for Section 8. Properties are rented with a screened and section 8 qualified tenant. I have recommendations on property management, etc if needed.
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