buying an air bnb out of state

Scottsdale, Arizona
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buying an air bnb out of state

Nicholas Williams
Philadelphia, PA · Member since 2022 · 37 posts · 15 votes

Hello everyone,

I am in the process of purchasing a property in Arizona for short term rental. I was wondering if there is anyone that can provide some advice on property management/contractors or anything associated with having a property out of state.

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  • Ibiene Solomon-Zacchaeus
    Property Manager · Member since 2024 · 17 posts · 1 vote
    2y

    That's a good start Nicholas. Well in managing an Airbnb, you must be willing to put in the work to see the results. Employing the services of a property manager can help boost your business as they provide support in handling the property and could also co-host the property along you. Listing, optimizing, customer relations, cleaning and a whole lot of other stuff are involved. 

    i would like to connect with you to see how I can be of assistance to you.

    0Reply
  • Jackson Harris
    Realtor · Phoenix AZ, USA · Member since 2023 · 209 posts · 81 votes
    2y
    Quote from @Nicholas Williams:

    Hello everyone,

    I am in the process of purchasing a property in Arizona for short term rental. I was wondering if there is anyone that can provide some advice on property management/contractors or anything associated with having a property out of state.


     Hi Nicholas, congrats on the investment! I have a few good ones my clients use here locally, feel free to reach out.

    0Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y

    Scottsdale is one of the hardest STR markets to succeed in. Is it a house or a condo? If it's a house, giant amenities are really table stakes in Scottsdale. You could do much better with your money than doing out-of-state management in Scottsdale where you are going against some phenomenal operators.

    [email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    0Reply
  • Scott AllenBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes
    2y

    @Nicholas Williams Scottsdale sure is a fun city to visit. Fun scene and great weather but can get very hot in the summers to where it feels like you're in an oven when you go outside. If your goal is to get into short term rentals - analyze the deal to a point where it can still work as a longterm or midterm rental if short term doesn't perform as expected. 

    [email protected]614-698-1227
    Reafco - Columbus, OH
    WebsiteView Page
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  • Nicholas Williams
    OP
    Philadelphia, PA · Member since 2022 · 37 posts · 15 votes
    2y

    @Jonathan Greene

    I am going to get a condo. Looking at all the cool air bnbs I know it may be tough to succeed. Do you have any advice that may help in my decision process?

    0Reply
  • Scott AllenBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes
    2y


    @Nicholas Williams if you're doing a condo, just make sure to do your due diligence with the HOA that they allow the type of rental you are planning to do and that they are at capacity still to allow more.

    [email protected]614-698-1227
    Reafco - Columbus, OH
    WebsiteView Page
    0Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y
    Quote from @Nicholas Williams:

    @Jonathan Greene

    I am going to get a condo. Looking at all the cool air bnbs I know it may be tough to succeed. Do you have any advice that may help in my decision process?


    Yeah, don't get a condo in Scottsdale. They will decrease in value because there is always a better complex in an area like that. Your HOA will likely keep increasing and because of the excessive heat, roofs get replaced more than in other areas and if the HOA is not super liquid, that will come back to you in the form of an assessment. It's a good area to own and rent in because there is a lot of tourism, but a condo with HOA in a place like Scottsdale is not going to be super easy to do STR or MTR with the regs.

    [email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    0Reply
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