Are you ready to invest in real estate? If so, Arizona is a great place to make this investment. But, do you know which cities are best when it comes to real estate investments? If not, then you definitely need the information found here.
If you want to invest in the best markets for real estate in Arizona, you definitely are not alone. When it comes to real estate activity, Arizona’s a hot bed; however, the following seven cities are considered the best when it comes to making a real estate investment.
Each of the cities in this list have made top spots in real estate guides and are considered great locations by experts in the industry. Also, due to the fact that the areas are growing, the investment you make will only appreciate in value.
Considered one of the strongest real estate investment locations, this city has a vacancy rate that’s under one percent. When you add that to the fact that the neighborhood has a rental return rate that is, on average, 11 percent, it’s pretty clear why Laveen is such a great place to look for investment real estate.
While Scottsdale may be considered part of the valley, it’s also a pretty unique suburb that is attractive to individuals from all walks of life. Featuring a wide array of exciting nightlife, a unique western flair, amazing hotels and highly rated restaurants, it’s not surprising that so many visitors have decided to call Scottsdale home. As an extremely desirable area in the valley, there’s also a huge supply of investing opportunities found here.
3. Queen Creek
One of the factors that has made this location grow in popularity is how close it is to Mesa Airport. Another factor is the real estate prices. Vacancy rates are low and the returns on rental properties are almost as high as what’s seen in Laveen.
4. El Mirage
Affordability is the driving factor when it comes to growth in El Mirage. Right now, the median home value in this city is $110,000. This location is home to more than thirty bars, coffee shops and restaurants. If you want a great opportunity, then you should check out El Mirage.
5. South Phoenix
Another city that boasts lower than average vacancy rates and great returns on rentals is South Phoenix. It’s also close to many popular attractions, such as Tempe Town Lake, the Botanical gardens and the zoo.
6. Maricopa City
With a vacancy rate under one percent, this area has seen an increase in residents. There’s also a 10 percent return on real estate investments here, which makes this is a great place to make investments.
Tucson is to the south of Phoenix and home to three natural forests. It also boasts a mild climate and great culture, making it a growing market. This city attracts both renters and buyers from the entire country.
Real Estate Investment Loans
Finding the right location and property is the first step when investing in real estate in Arizona. The next step is to get financing. You can opt for non-traditional lenders, which offer the money you need faster than a traditional bank. Hard money lenders also don’t require mountains of red tape like a traditional lender does. This makes it much easier to get the financing needed.