Have you been thinking of investing in real estate to build your wealth? If so, I have good news: I have honestly never seen a better time to invest. It’s a perfect storm here in the Valley; interest rates have never been lower, and there are rumors that they’re going to edge down a little more. If they do, it’ll be a long-term record; they’ve never been that low.
Here’s a relevant story:
I own a rental property by Intel in Chandler, and it’s not a fancy, upscale home by any stretch. It’s a Shea Home with three bedrooms, two-and-a-half baths, 2,000 square feet, a loft pool, and a Jacuzzi in the backyard. I fixed it up to look nice and put it on the market about 10 days ago. In just two days, I had over 30 inquiries to rent the property and three applications—I hadn’t even shown the property yet!
This clearly indicates that demand is through the roof. As a landlord, this is very exciting to me because I get to cherry-pick the best tenants. I did a two-year lease and got $2,300 for the place, which is $150 more than the last tenant. The tenant is single and a surgeon, so I’m confident she can afford the place. At $2,300 a month, that comes out to $55,000 I made when I signed that lease. Sure, I’m paying the principal, interest, taxes, and insurance on the property, but I’ve got $700 to $800 cash flow that I can channel towards the principal to pay the property down over the course of 10 years.
So, if you’ve ever thought about investing in real estate here in the Valley, reach out to me. I would love to help you create wealth like I have done with so many others in real estate, including myself. There are all different types of properties to invest in for different reasons, and we can discuss which would be right for your goals. Hope to hear from you soon!