Real Estate Investors Help: Scottsdale or Tucson? (Phoenix, Sedona: rentals, condominium)

[strongman]

For any knowledgeable real estate investors out there -- I'm researching AZ markets for a possible purchase of a condo for short-term vacation rentals. I currently own a condo on the beach in South Padre Island, TX, but would like to add a desert SW unit to my small portfolio. All things considered, would you lean toward Tucson or Scottsdale? I'd really like to buy in Sedona, but they have a ban on rentals less than 30 days.

Thanks in advance for your help.

[gigi927]

depends on your budget.

There is a good market for short term vacation rentals in Scottsdale, but they will be more $ than in Tucson. One of the newer things going on in Scottsdale is the condo-tel concept. It's basically a condominium property with a hotel-type management company on site that has a rental pool that will manage rentals for you and take care of everything for a cut of the rental amount. Over the long term, these types of properties will allow you positive cash flow back against your investment. You are also allowed to use the property for your own use a certain # of days each year.

My husband is an AZ realtor (we live in Austin TX now) and had several clients who bought condotel units in parts of Phoenix metro and have done very well with them over the last couple of years and even with the market downturn in Phoenix, will likely be able to sell them at a significant profit. Good luck!

[ginnar_80]

Hello,
I read your husband is a Realtor in AZ and I would like to contact him. I need to know if he has any listings in Phoenix for Condo Hotels I have some interested buyers and I would like his help . Please call me at 305-710-6015

Regards,
Ginna Rojas
Coldwell Banker/All Nations Realty
www.ginnarojas.com

[baileyboy_az]

I would say PHX. would be better I've bought and sold a few properties in the past 2 years and have done pretty good ever with the bottom falling out of the market. Let me know if you need a realtor I have a few that I have been very happy with in the area

[ddnmill]

I would buy a condo in Phoenix along or within walking distance of the new light rail system. I have heard that prices may double in the next 5-8 years for properties within proximity of the light rail (let's face it - driving in Phoenix is about the worst part of living here!). You may want to look into that area, but make sure you get advice from several people and not necessarily people with a vested interest in any particular area themselves. Good luck!