Sales & Investment Homes
The largest aspect of our company is property management, managing investment homes owned by our clients. You could say it is the backbone of our company or our bread and butter. Another aspect, however, is the sale of investment homes. Many of our clients purchased their investment home (or rental homes) utilizing our services, which just further streamlines and simplifies the process taking you from unsure investor to investment property owner.
One of the scariest aspects of buying a rental property is the fear that it will sit empty. There are currently thousands of empty rental homes throughout the Valley, how do you know that your potential rental home will actually rent?
A vacant rental home can be catastrophic so that’s why we tend to only deal with areas that we are experts in. We know what kind of homes rent in Northwest Glendale, Peoria, and Phoenix and we know what fair rents are. We know that potential renters usually like the same things in a home that potential buyers do. If you wouldn’t want to live in the home because of large overhead power lines or because the home backs up to a major street you can say with a fair amount of certainty that a potential renter wouldn’t want to live there either. If you have a less than desirable location you will need to discount the rent to try to attract a renter – which isn’t a good way to go. In that type of situation our recommendation is to skip purchasing a less expensive home with undesirable features, in the long term the money you save on the purchase price will not be worth the money you lose attempting to rent a lower tier home – even in a nicer neighborhood.
Another reason many vacant rental homes are vacant is unrealistic expectations. When an investment home owner purchased the investment home the agent that sold them the house assured them that they’d be able to rent it for a certain amount. Perhaps the agent thought that was a good grasp of the market because they had spoken with someone in the area, or perhaps the agent didn’t care, because they knew they would be out of the scenario long before the investor actually tried to rent the home. As property managers we do not go off of other people’s recommendations; our investment advice is a product of being in Phoenix real estate for more than 35 years and being focused on the Northwest Valley for more than 25 years. Market trends in Scottsdale are not the same as Glendale, the same for Chandler, Mesa, Tempe, or any of the other cities in the Phoenix Metropolitan area. Don’t rely on general numbers from agents that only look at the entire Valley without taking into consideration where the home actually is.
If you are thinking of becoming an investment home owner please contact us. We’d like to sit down with you and discuss numbers – how much you would like to spend on the home and what type of monthly cashflow situation are you looking for. From there we can begin analyzing the homes available to figure out what will be an ideal rental home for your investment portfolio. Once the deal has closed we will find an ideal tenant that will rent your home, on average for more than four years, and the transition is virtually seamless.
In the areas we work in we’ve seen the market completely turn around. While most news outlets are parroting each other saying that the housing market will turn around soon, they are looking at too broad of a scale to get accurate figures. The Northwest Valley started recovering and we’ve been seeing prices creep up every day. Don’t let the horror stories of rental homes in outlying areas like Buckeye, Surprise, Maricopa or Queen Creek frighten you – it’s an ideal time to buy a Glendale, Peoria or Phoenix rental home.