When someone buys a Sedona AZ Home for Sale many times they want to rent it out until they can totally relocate to the area. I got the following tips from Ryan Moeller from Bigger Pockets and I want to share them with you.
1. Don't count on Appreciation. That's a bonus
2. Watch your loan-to-value ratio. Ideally, the total cost of the purchase, fees, and repairs should be no more than 70% of the appraised value of the property in good condition
3. Maximize annual return. Aim for properties that can be rented for at least 1.5% to 3% of the purchase price. I.E. Plan to pay no more than $50,0000 for a property that can be rented for $750.00 per month. Now in the Sedona AZ Home market and the Sedona Real Estate market - those figures will be hard to reach.
4. HAVE An EXIT strategy. Seek properties that are attractive enough to have value no matter what happens to the market - as rentals, for sale to other investors, or for sale to somebody who plans to live ther via conventional financing or lease purchase
All of these would be fine for any Sedona AZ Home or for the Sedona Real Estate Market. Text or call 928-301-0669, barbara@barbarabaker.com, FB at Sedona Real Estate Page
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