Phoenix real estate investing? Currently, the Phoenix real estate market continues to maintain its dominance as one of the most lucrative investment options for Phoenix real estate investors. On a yearly basis, the Phoenix real estate market has enjoyed above average gains. There are many ways engage in Phoenix real estate investing and make a big return on it.
One can invest in a property to flip it. This is where you buy a piece of property at an attractive price, put some investment capital into it, and then “flip” the property to sell it. This usually occurs fairly quickly hence the nickname “buy and flip”. Another way is to, purchase a property and hold it. One purchases the Phoenix property, fixes it up a bit, and then rents it out. For both strategies, be sure that you do your research first and find out the right “buy” price and amount to spend fixing either property up.
Be sure that you create a monthly budget to account for the expenses that you have to cover each month. Tax deductible expenses include some of the following: advertising, car and travel, cleaning, commission, insurance, Realtor fees, management fees, mortgage interest, homeowner’s association fees, lawn care, pest control, repairs, supplies, taxes, and energy. One day, there will come a time that you will wish to sell the property. The profit can be mostly generated due to the property having gone up in value over time, but part of the profit is because you have been expensing through depreciation the cost of the property over the year.
It’s a lot to think about! How does the novice Phoenix real estate investor go about all of this? Luckily, there is the Matrix Investor Network which provides seminars and true mentoring for aspiring real estate investors in the Phoenix area. They are not some “Real Estate Guru” but have roots in the community and a 30,000 sq ft office in downtown Phoenix. What’s more, they are actively doing real estate deals in the Phoenix Market as they have been for thirty years.