I forget the actual numbers I heard this weekend, but the appreciation has been crazy in Arizona..one of the top 2 or 3 states in the country.
If things keep going the way they are, New Mexico will be the next Arizona and Florida will be the next California. The number of retirees flocking to these areas will be crazy.
I bought a property in Gilbert about 3 months ago...
I found a company that does lease options, and the plan was to put someone in there for 2 years on a lease-buy option with a $200 cash flow and 25% equity split for them when purchased
I bought for $205K
The company I went with had a placement guarantee, that stated they would pay my mortgage if they could not put someone in the house.
They never put someone in, and they did pay my mortgage for 3 months,
I just put the property on the market for $260k.
and they found a renter for $1100.
This is my first out of state investment and I am satisfied...of course if it does not sell, I might change my mind
I forget the actual numbers I heard this weekend, but the appreciation has been crazy in Arizona..one of the top 2 or 3 states in the country.
If things keep going the way they are, New Mexico will be the next Arizona and Florida will be the next California. The number of retirees flocking to these areas will be crazy.
I bought a property in Gilbert about 3 months ago...
I found a company that does lease options, and the plan was to put someone in there for 2 years on a lease-buy option with a $200 cash flow and 25% equity split for them when purchased
I bought for $205K
The company I went with had a placement guarantee, that stated they would pay my mortgage if they could not put someone in the house.
They never put someone in, and they did pay my mortgage for 3 months,
I just put the property on the market for $260k.
and they found a renter for $1100.
This is my first out of state investment and I am satisfied...of course if it does not sell, I might change my mind