Are You a New Investor to the Tucson Market?
If you are new to the Tucson market here are a few items to make your experience more profitable and positive.
Find the Right Location
Are you looking for multiplexes or single-family rentals? Spend some time checking out the communities, see what is already there. Talk to neighbors and spend some time walking the streets. The local people will tell you more honest feedback than any brochure or real estate agent will be able to. Ask about traffic; see if the neighbors feel like there is high tenant turnover. Find out how close amenities are. This can be a real selling point for the right crowd.
Zoning & Fire Codes
Double check to make sure that the unit has met all of the zoning and fire codes. Codes can change quickly and the last thing you want is a place that might have been compliant at one point but now is not.
Improving or stable
Talk to neighbors and city planning to get an accurate picture of the neighborhood. Is it improving? Are there plans to renovate, put in new roads or parks? Do the neighbors and local businesses have confidence in the community? Do they believe it is getting better?
There are many different things to consider when investing in a rental property in Tucson or any other city. In all of the details that consume a property investor’s time and energy some of the ones that are overlooked is getting to know the community. So don’t forget to spend some time walking the neighborhood before you make your purchase.