Investments for Lake Havasu, Parker, Kingman, Topock / Golden Shores, Fort Mojave, Bullhead City and Other Areas of northwestern Mojave County

Investing in Beautiful Backyards in Lake Havasu City!

There are typically four reasons to buy Lake Havasu area real estate:

1. Primary Residence
2. Second Home
3. Residential Investment
   
4. Vacation Rental (short term or long term)
5. Commercial Investment
   

If you are purchasing for a primary residence, or second home your perspective is most likely that of purchasing an expensive consumer item which will may also yield capital appreciation over time, or provide a residence for retirement at a later point in life. Your in luck as Lake Havasu has historically and consistently provided both.

Of all the area communities in Mohave County, Lake Havasu real estate is unique in that the lake is a major tourist attraction due to the London Bridge and other activities and the properties generally command higher values. 

Most areas have low restrictions on building, but certain communities do have governance of usage, development and architecture.  For more information click here.

There are some key features, if obtainable, that can have an upside impact on your home’s investment value:

• Pool
• A garage or carport
• Parking for 4+ vehicles
• Level lot
• Lake view
• An RV Garage(s)
• Fewer flights of stairs
• Areas for pets

Whether you plan to live in the home full-time or part-time you will want to consider the neighborhood. Are most of the homes rentals? If so, are they weekend only, part-time, or full-time rentals?

If you plan on investing in the area for income there are three major types of income opportunities:

1. Vacation Rentals
2. Long Term Rentals
3. Commercial Properties

Owning rental investment homes in the Colorado river communities is popular. Rental rates also vary with location and amenties with rental rates that can reach up to $1000 per weekend or more!

The most popular rental times and approximate length of rental periods to expect are:

• President's Day (2-3 days)
• Memorial Day (2-3 days)
• 4^th of July (3 days)
• Thanksgiving (3-4 days)
• Christmas (4-5 days)
• New Year (up to 6 days and up to 12-14 days when combined with Christmas)
• Desert Storm (3-4 days)

When you build your financial investment model take those trends into consideration to more accurately estimate your return on investment.

Also, if you are offering a vacation home rental, keep in mind that your customers will want to be comfortable and entertained during their stay. Prized amenities will include:

• Pool and/or Jacuzzi
• Ample seating and sleeping
• Dishware
• Dishwasher
• Billiards
• Ping Pong
• Darts
• Wet bar
• Hot tub
• Area for pets
• Etc.

Longer term rental may also be attractive. The following estimates might assist you in considering whether to implement a longer term rental strategy in the Lake Arrowhead area:

•    2/1 house               $900 – 1300/mo
•    3/2 house               $1100 - $1,800/mo
•    4-6/2+ home          $1,800 – 3,000+/mo 

When selecting an area to purchase real estate in the Lake Havasu Area, it is important that you understand the various areas. 

Generally speaking, Lake Havasu area real estate is considered highly desirable due to it's central proximity to the Parker Strip and the Bullhead City / Laughlin areas.  In today’s market, one thing that holds true is that real estate is local.  Values, and appreciation / depreciation rates are primarily influenced by a neighborhood’s perceived quality. 

If your strategy is to invest in rental properties that will appeal to commuters, you may also want to consider whether your target property has convenient access to the 95, 10, 40, or other highways. Note the progression of elevation has a big impact on the severity of the weather. In general, the more favorable locations for commuters flow from lowest to highest with Crestline being at the lowest, and Green Valley Lake being the highest.  The two easiest and closest commuter locations from the LA and Orange County areas tend to be Crestline and Running Springs:

If you own, or plan to purchase a property(s) for vacation rental in the Lake Havasu area, there are a few things you should consider:

• What are the legal requirements for short term rentals?  Check with the Lake Havasu city government, and or any HOA.  Each of these may have:
  
  • Limits on the number of days or weeks per year you can have short term renters
  • Special taxes
  • Business license requirements

• Make sure you review rules regarding tenants and reference these guidelines to assure you are fully informed about managing tenants or property appearance.
• Determine the best theme, furnishings, and cleaning strategy.
• How will you manage the property, what you will charge for rent, and a security deposit.
  How will you market the property?
• How will you screen for renters?
• Will you have a cancellation fee?
• Etc.

If your goal is to rehab or "flip" real estate there is tremendous opportunity in Lake Havasu and many adjacent areas in Mohave County. Keep in mind that many of the homes coming on the market require upgrades and/or restoration. 
Summing up, your decision to invest in Lake Havasu City or the surrounding communities will entail many considerations related to location, terms and conditions, pricing, and more. Be sure to contact me for assistance with selecting your preferred type of real estate and location(s).