From the  200 Active fourplexes in Phoenix, Scottsdale and Glendale there are 27 which are short sale or foreclosed; lender owned properties.  This is down about 20% from 2 months ago.  Many of those lender owned properties have been purchased by savvy investors. 

Fourplexes currently start at $99,000. Yes it’s a fix up but someone is going to make money on it.
Others are available for less then $200,000 while some really good fourplexes can be purchase for less then $300,000.

Purchasing a foreclosed fourplex is a little different and requires more cash and reserves because most often these properties are completely vacant, so an investor will not only have to prepare a neglected property but wait to fill the vacancies. Make sure you calculate that in before you buy.  None the less the prices are amazing and buying properties with that will cash flow is possible.

You can search for multifamily income properties here.  Select the advanced tab and select multifamily but its easier if you let us know and we can do a more thorough search for you.

Call Artur at 602-628-4349 or Joanna at 602-358-1392

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• scottsdale fourplex foreclosure
• phoenix income properties
• renting a phoenix property does it make money

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1. Start by having a clean and prepared property.

There is nothing worse to turn off good tenants then a property which is not clean and I mean really clean, clean enough that you would be happy living there. Even if you are prepping a property its probably worth it to finish it and clean it up before you show it. As imaginative as people are its just hard to imagine a dirty property clean. Just spend the money and time, you’ll often get better tenants and better rents. Plus it will be much easier to take photos for additional exposure.

2. Have a "For Rent" sign.

This is almost free advertising. It exposes a property to people seeking rentals in a particular neighborhoods who may be driving around and to others in the area who may know someone who would like to rent there. Take it a step further and have a dedicated property website. You can get them for for a minimal cost online. A good example may be www.22032n74th.com. This was a bit more expensive but you can get a more scaled down version for much less. Then have a rider made for about $30.00 which will hang on the sign. The same site you created can be used for additional exposure online.

3. Advertise online.

Not yourself but the property. The dedicated website you created can be used as a catalyst for additional exposure. Its an easy and quick way to have lot of photos, a floor plan, and full details. The website address can be placed in places like Craigslist.com. Photos rent properties. The more the better. I have up to 80 photos, but usually 10-20 is fine, as long as it shows the house well. Remember that many of your prospective tenants may be out of state and they will be searching online before they come here.

4. Paid placement and other types of advertising.

You can seek additional exposure though paid placement in some online rental sites, in the newspapers or local editions. your return for such advertising will vary depending on the exposure and the property being rented. It may or may not be worth it.
Sometimes a church or other organizations and local businesses may be in need of rentals. the more people know the better.

5. Place your property for rent with an agent.

If you hire a Realtor to rent your property most of all those things will be done for you plus much more exposure then you may put together. Plus many Realtors have economies of scale for advertising. This means that they can expose your home in more paces for less money. Also consider your time to arrange meeting and show properties. This can be taken car of for you. Just a with selling, pick an agent that is active and can show you what will be done. There are fees involved but considering time and the hassle its usually worth if to hire an agent for leasing out a home or condo, but not an apartment.

6. Write an enticing ad.

Write carefully and be succinct. Make it easy for prospective tenants to reach you and get they information they need.

Having a clean well prepared property and not skimping on advertising will help you rent it out quicker and for more. Be open to negotiation. It may be worth it to lease a property for a little less and have a better tenant and leased our sooner.

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• income property management phx

All content is copyright by ArizonaApartmentInvestor.com - inPhoenix Realty Group. If you found this content anywhere other than your RSS reader then it is being used without permission: stolen.

In an effort to separate our 2 divisions, residential and commercial we created ArizonaApartmentInvestor.com which was a channel on PhoenixMarketTrends.com up to now.

Here you will find a rich expanding resource for investing in real estate, buying income properties, running apartment communities, market data for multifamily and so on. All this information will be located here in one place.

All content is copyright by ArizonaApartmentInvestor.com - inPhoenix Realty Group. If you found this content anywhere other than your RSS reader then it is being used without permission: stolen.