Where to Invest on Real Estate?

I found my new home in News Break. As a investor living in Seattle, I always look for opportunities across the nation. Today, Let's talk about short term rental (STR) in Scottsdale. According to Zillow Research, Phoenix metro saw 16% growth last year, in terms of median price. Scottsdale median is already 626K, but still present opportunities for Short-Term Rental (STR).

Scottsdale is one of the top destinations in the nation. It has attractions like Scottsdale old town, International Entertainment District, top tier golf courses and football training camp. The house I missed is in Kierland neighborhood, close to everything.

The house was pending even before it hits the market. Asking price was $600K, and may close around $650K. It is 4 bedrooms with a pool, can rent for $120K/year according to my careful study and comparison. With 25% down payment plus $25K initial decoration, the upfront cost is $187K. For the $120K annual gross income, assuming 25% management fee, $10K utility and $30K mortgage, leading to net income of $50K. That is 26% return over the initial investment!

I was one day late to send in my offer, and missed the opportunity, feeling very frustrated. However, there is always another house. Good luck to all investors!

Comments / 0

Published by

talks about interesting tricks for buying investment houses in US.

Seattle, WA
67 followers

More from Real Estate Tricks

Comments / 0