Phoenix is a city filled with energy, opportunity and growth. It will be difficult to match the limitless opportunities presenting themselves in this city.
When the US economy entered a downturn, the real estate market in Phoenix was hit hard. During the boom the city had a lot of space to grow so speculative investors over-built and over-financed resulting in a sea of foreclosed and distressed properties. With single family home CAP rates of 9-10 percent and future appreciation, historically high returns are likely. The bottom line is that Phoenix is a buyers market with unbeatable bargains and the cash flow numbers really work. This city will emerge with a strong, re-newed, expanding economic base.
Here is some of what the city of Phoenix has to offer you as an investor:
Phoenix is top 5 in the US in terms of population growth
Residential resale’s are at a 5 year low which allows for large return on investment
Low unemployment rates
Low interest rates
High job growth
Arizona is a landlord friendly state and quality tenants are easily found
High appreciation rate
Phoenix has a diversified economy, with an educated workforce and is a magnet for corporations like Intel and Boeing
Beautiful weather – sunshine 325 days of the year
Great golfing community
Convenient airport access