$100k cash invester (Phoenix, Mesa, Surprise: for sale, apartment, rental) - Arizona (AZ) - City-Data Forum

joajay · 06-16-2010, 04:15 PM

first thanks to everyone in this forum, we have learned a great deal from your posts. We are Canadian, my husband and I like to golf year round, so we are thinking to buy an apartment or house in Phoenix area just like many Canadians did. We are in our mid-40s, so before we retire and can finally move to Phoenix , we are think to rent it out for around 10 years.
our budget is $100k, we have cash in hand, I would like to get some suggestions on which area we should focus to look at on good, safe neighborhood, easy to rent and big protential of price rise in the next 10 years.
thank you for your suggestion.

AZJoeD · 06-16-2010, 05:59 PM

I like Surprise because it is clean, newer and has great long term potential.

You may also wish to consider East Mesa for convenience.

Check your DEM for more info.

Master Shake · 06-17-2010, 09:59 AM

Quote:

Originally Posted by joajay

our budget is $100k, we have cash in hand, I would like to get some suggestions on which area we should focus to look at on good, safe neighborhood, easy to rent and big protential of price rise in the next 10 years...

For 100k -- assuming you are not using that as a down payment, you will probably only be able to pick two out of your four requirements.

nickw252 · 06-17-2010, 10:06 AM

Quote:

Originally Posted by Master Shake

For 100k -- assuming you are not using that as a down payment, you will probably only be able to pick two out of your four requirements.

Not necessarily true, I was recently browsing listings and I saw a lot of new houses located in the way far flung suburbs in the low 100's. I can't really vouch for their safety and resale potential though because I don't ever go that far out of Phoenix.

Master Shake · 06-17-2010, 10:45 AM

Yes, there are a lot of good places for less than $100k out in the far flung suburbs, which are in good, safe neighborhoods, but those will more than likely not be easy to rent (for a good rental income) and/or not have a big potential of price rise since they are far from downtown and often times in underdeveloped areas. But you never know!

It all comes down to what someone is looking for. If they want easy to rent, that would usually be in the more established areas, close to major transportation and close to downtown and major amenities. This of course will usually will be more than $100k if you also want a nice, safe neighborhood, etc.

anne_vancouver · 06-17-2010, 09:31 PM

I saw an amazing listing but have no clue if the neighbourhood is interesting. Does any of you know if 39th street and NW grand avenue is a good spot?

thanks

JasonS · 06-18-2010, 02:04 AM

Quote:

Originally Posted by anne_vancouver

I saw an amazing listing but have no clue if the neighbourhood is interesting. Does any of you know if 39th street and NW grand avenue is a good spot?

thanks

I would say no myself,if your looking in glendale i would look alot further north near the 101

Someone else mentioned surprise which is where i live.

its nice area, low crime,cheap houses,alot of retirement areas,plenty of gold courses near by. Only problem is its a longer commute to get to phoenix but do you have any specific reason or need to commute to phoenix?

Best advice is to visit and look at the different areas.

I moved here 3 years ago,surprise was the first area i visited to look for a house on a list of about 3-4 cities. I never left surprise on that visit and ended up buying a house here. I have visited the other cities since then and am happy with my choice.

Luke9686 · 06-18-2010, 02:13 AM

Does a $100K cash investor really come to internet forums looking for where to spend their money? If they do, then they should spend it wherever I am at that moment...

crystalys · 06-18-2010, 02:19 AM

Quote:

Originally Posted by anne_vancouver

I saw an amazing listing but have no clue if the neighbourhood is interesting. Does any of you know if 39th street and NW grand avenue is a good spot?

thanks

You probably mean 39th Ave not street. What do you mean by if the neighborhood is "interesting"? All neighborhoods are "interesting", so you will need to be more specific. I would say that it is an older neighborhood and you could do much worse or much better. By "amazing listing" I am going to assume you mean that there was a house for sale for really cheap. More than likely it will need major fix up because of its age. If you post the address I can give you more info on it.

Wyoming Darrell · 06-18-2010, 09:30 AM

Based on what you said, and what I think you mean by it, I would say 39th Ave and Grand would not be what you are looking for. I think some areas of Surprise might be, but the prices seem to be going up here now. I strongly suggest you spend at least a couple weeks down here looking around. Consider it a part of the house cost, as well as a vacation. A word of warning though. If you come down around October, you may never go back. It is the perfect time of year and absolutely beautiful.