I am looking to purchase my first investment property and love Scottsdale, so I was thinking that is where I'd like to buy a property for Airbnb purposes. Would anyone have advice as to which areas or types of properties I should look for?
Hi @Edward Hussey congratulations on getting started on your investing journey! If you are looking for the most flexibility, I would consider searching for homes with no HOA in these Scottsdale zip codes:
85257, 85250, 85251
All of these would be close to the action of Old Town Scottsdale, seasonal sporting events, ASU events, golf and hiking and all the things that draw people to Scottsdale.
I highlight these 3 zip codes because HOAs are rare here and you will find remodeled or in-need-of-remodeling homes, depending on your strategy and budget.
Most investors consider a swimming pool a must since people come here for the sun and fun.
Check out Scottsdale listings on Airbnb to see which ones have the most bookings and charge the highest rates to see what's working best. We are all looking forward to the 2021/2022 season when sporting, car and cultural events are back to their normal capacity and crowd sizes.
A BP couple from Seattle I'm working with is currently in escrow for a STR home in Scottsdale. So feel free to ask me anything.
Hope this helps!
Thanks @Melanie Johnston for the great advice! I'll definitely narrow my focus to those three zip codes. After doing some research, it appears Phoenix/Scottsdale doesn't allow condos and apartments really to be listed on Airbnb. Do you know if that's the case? If so, I'll spend more time looking at single-family style homes.
A swimming pool also does sound like a good idea with that summer heat!
I would also love to chat more in depth about finding the perfect property. I'm excited to get started!
@Edward Hussey There are condo complexes in Scottsdale that allow short term rentals. We can talk about that!