Image source newhomes.move.com
We’re looking for the average income of homeowners and renters, then we translate that to median home price for the area. This is where you can find the largest number of renters and home buyers. Also, this range is where you are most likely going to pay the correct price for your investment. Investing in a cheaper home may lead to high maintenance costs, while investing in a property that is on the high end may be hard to rent. Don’t wait to buy real estate, buy real estate and wait. Investing in real estate is similar to investing in stocks, to be able to profit off an investment, you must first determine the value of the investment property, then using a formula (Market value=gross income*gross income multiplier ) to make an educated guess on how much profit can be made. Scottsdale’s Live-Work_Play Lifestyle is highly sought after making it one of the top cities for investors to invest in. The Metropolitan area is ever growing while the urban neighborhoods are being revamped making the majority of the city a very desirable living location. If you are looking to invest in Scottsdale look for a location with lots of restaurants, shops, outdoor trails and things to do. If you are considering investing in real estate please call me and I can help you through the process.