Happy 4th of July everybody!
As everybody knows, Arizona is in a hot market right now.
It just occurred to me that rent rates are low because everybody is buying a house and does not want to rent. For the last couple of years, if you had a pulse, you could buy a house. With interest rates going up, there will be a point where buyers can't afford a house and will choose to rent.
Investing in apartments right now is a great idea, because the value of apartment buildings are always valued at the rental comps. If the rental comps are low, the value of the apartment building have to be low. I think I'll be looking into this right now. :-)
I already did an analysis on one property in a low income neighborhood. This particular property is selling for top price, but he is offering owner financing, so if terms are reasonable, than maybe I can work some thing out.