Scottsdale, Ariz. has always been a choice destination for vacationers and snowbirds charmed by the city’s many attractions and beautiful desert landscape of mountains, cacti and year-round sunshine.
It comes as no surprise that the local real estate market has witnessed exponential growth over the past year, spurred largely in part by the Covid-19 pandemic that has mobilized more remote workers than ever before to either relocate or at least temporarily seek out alternative housing for the type of balanced and luxurious lifestyle that Scottsdale offers.
In fact, approximately 20% of all Americans moved last year, according to a recent U.S. Census report, where Arizona was the seventh most popular destination. Prior to the pandemic, 2020 visitor spending in Arizona was already outpacing 2019, which was the state’s best year yet for tourism where 46.8 million people visited the Grand Canyon State. This is only expected to grow further in the coming years.
If you’re a real estate investor who is looking to break into the Scottsdale property market, now is the time, and Parsons Real Estate Fund is here to facilitate the process to ensure a return on investment that’s worth your while.
With over 50 years of experience across home building and property management, Parsons Villas, Scottsdale’s leading luxury home rental agency, is a trailblazer in acquiring luxury, single family residences in desirable vacation locations for short-term rentals. Investors of Parsons Real Estate Fund can look forward to cash flow benefits earned from these short-term rentals as well as the potential appreciation of the homes in the years to come.
Here are five reasons why Scottsdale is the ideal market to invest in with Parsons Real Estate Fund:
Location, Location, Location!
Featuring warm weather and an accessible natural beauty, Scottsdale continues to be a prime year-round vacation destination that appeals to many, including professionals, families, and large groups who are looking to combine luxury accommodations with a plethora of activities, such as golf, hiking, sporting events, festivals, shopping, and much more.
Great Acquisition Conditions
Single-family homes in Scottsdale are in demand for short-term vacation rentals, where many multi-generational homeowners are willing to sell estates significantly below cost. Homes situated on large plots of land also allow for the development of resort-style amenities that affluent vacationers are looking for in our rentals.
Rising Popularity of Vacation Rentals
By 2022, the vacation rental industry is projected to grow to $436.9 billion, a 44% increase since 2017. The millennial generation, which now accounts for 40% of the working population, prioritizes spending on experiences rather than on material items. Renting a luxury vacation home with friends or family for a stretch of time is the perfect getaway for this innovative traveling group, who have embraced the fast-growing trend of “togethering,” or vacationing in large groups of people.
The Parsons Villas Difference
From start to finish, the team at Parsons Villas takes care of day-to-day property management with a best-in-class concierge team that provides high-touch service to vacationers around the clock so you don’t have to worry about the details. Our deep and connected relationships with only the best local realtors, contractors and designers help identify properties and remodel them with the goal of generating rental income in an efficient manner.
Investors of Parsons Real Estate Fund can enjoy a target return of 20-25% net IRR on luxury rental homes concentrated among the affluent and popular Phoenix suburbs of Scottsdale, Paradise Valley and Arcadia.