Phoenix, AZ - Real Estate Investment Home

Today we purchased another residential real estate investment house in the Phoenix, AZ metro area. This home is in the sought after "Ahwatukee" neighborhood.

"Ahwatukee (formally "Ahwatukee Foothills Village") is an L-shaped neighborhood of Phoenix, Arizona bordered on the north by South Mountain Park and Baseline Road, on the east by Interstate 10 and the cities of Chandler, Guadalupe, and Tempe, and on the south and west by the Gila River Indian Community. It is the southernmost of the city's 15 urban villages. As of 2000, the 35.8 square-mile (92.7 km²) village has a population of 85,000." - Ahwatukee Information Source: Wikipedia

14863 S. 46Th St.
Phoenix, AZ 85044

As with the Tempe, AZ house, this home was purchased at the public Trustee's auction as well.

The budget for this house is roughly 15k and we will be looking to resell the home for near 250k.

Tempe, AZ - Real Estate Investment Home

We just purchased (8/14/2008) another real estate investment home in Tempe, AZ from the public Trustee auction:

717 W. Manhatton Dr.
Tempe, AZ 85282

Before listing this Tempe, AZ home for sale, the house will require a light rehab (landscaping, interior painting, new bathroom counter tops, and updated fixtures) and is currently in the process of being rehabbed.

The project, if it remains on schedule, should be completed before September 1st, 2008. The budget for this home is roughly 15k, plus Realtor commissions, auction fees, utilities, and holding costs. Upon completion, we will be listing the remodeled home for resale within the next two weeks!

We will be looking to resell this property for roughly 250k. Updates will follow!

What Real Estate Markets Are You Investing In And What Strategies Are You Using?

Share with us the different real estate markets that you are working in and why. Let us know the different real estate investing strategies that you are having success using.

We are currently focusing efforts on light rehab projects in the greater Phoenix, AZ market. Due to large inventory levels, values are becoming increasingly attractive and, aggressively priced, these homes are attracting buyers.

Update August 24, 2008: We purchased another real estate investment home from the public Trustee auction. This rehab project should be completed and ready to be listed by September 1, 2008!

In the near term, we believe real estate investment opportunities will continue to exist in the greater Phoenix, AZ area since there are many bank owned homes and foreclosures still to work through. As a result, this continued pressure will force sellers to be aggressive with their pricing especially if their home needs work.

We also believe that the sharp price declines that have been occurring over the past year will begin to slowly equalize. Take your time finding the right investment opportunity. They're definitely out there!

Update September 21, 2008: We continue to believe, despite the current financial crisis, that the sharp price declines will continue to slow. We also feel that you should continue to take your time looking and evaluating real estate investment opportunities as the markets try to workout the turmoil. There are great opportunities but there is no need to rush as strong opportunities should continue to be widely available over the next year!