Over the past several years we in the real estate industry have seen and endured a lot.
My business partner and I work a lot with people buying second homes down here in the Phoenix area. Most of these people come from colder winter climates looking for an escape from the bitter cold they experience during the winter.
But lately I've run into a few folks who upon first consultation were looking for winter getaways and then mid-stream want to become landlords.
Now, this is all fine and dandy, but what happened to the original plan of having a winter getaway?
When purchasing a property, especially a second home out of state buyers must have a plan. Do you want a second home or an income property. Unfortunately they're not one in the same.
Managing an out of state property on your own can be quite cumbersome. And costly. And although you might be receiving a little cash flow from the property, when you want to getaway for the winter, you're going to have to stay at hotel/resort. Which may wipe away any of the cash flow profit you plan to gain from your rental property.
So buyers, if you want a rental property, fine, state that from the beginning. We can help you make an educated decision.
And if you want a vacation getaway, we can help with that too.
But let us know up front. That way we're all on the same page.
For more information about Anthem, AZ real estate click here.
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