Found a draft post from 2020 and wanted to share my results

Peoria, Arizona
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Found a draft post from 2020 and wanted to share my results

Curtis Porter
Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes

Hello! I have logged into BP maybe 3 times in my life but today I went to post something and a draft post came up from 2020 when I was trying to buy a rental home. I typed it out and never posted it. I have attached a screenshot and wanted to share what happened over the last 3 years. If you are in the greater Phoenix Arizona short term rental game you may know who I am. Back in 2020 I took a $70K heloc on my primary residence @4.75% and wanted to buy a rental property. For the past 20 years I had been interested in flipping homes but just never had money to do so (I have 4 young kids). During Covid the local government was selling off their HUD homes and I found one that nobody wanted selling for $211k. It's a 3 bed 2 bath home just over 1,000 sq ft, no pool, old neighborhood and zero upgrades. The house was gross! I offered $215k and no conditions. They accepted my offer in July 2020 and it did not close until October 2020 (typical government timeline lol). Since I had planned on flipping homes half my life I taught myself plumbing, electrical, drywall, flooring work etc. My big plan was to remodel the house myself in month which ended up taking 4 months! I replaced both bathrooms, tiled the floor, built a breakfast bar in the kitchen, painted cabinets and did a concrete overlay for all the countertops. About 2 weeks before I was done I made the house too nice for a long term rental so I decided to furnish it and try Airbnb. I quickly made a game room out of the garage to try and attract families. I had zero experience with it and didn't know if my place would get rented so I listed it at $99/night for 6 people. This was mid Jan 2021 (peak season) and I booked up through April within a few weeks. I even did all the turnovers myself cause I wanted to know as much as I could about running a short term rental as well as pocket the cleaning fee to help offset my costs. I definitely made some mistakes starting out and tried to get better with each booking. During the year I kept improving the home, added turf in back with minimal patio furniture (camping chairs). By early 2022 I added a hottub, firepit and some nicer patio furniture. I had close to 80 5 star reviews. This past year I grossed almost $50k (Net 22k). This rental kicked off my short term rental businesses and in Jan 2023 I left my full time job to work for myself. Attached is my draft post. It's been a wild 3 years.

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
3y

I assume your doing flips or have other properties now since 22k is below the poverty level?

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    I assume your doing flips or have other properties now since 22k is below the poverty level?

    2Reply
  • Sarah KensingerPro Member
    Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
    3y

    Congrats!! Keep up the good work, I have a feeling your just getting started!

    [email protected]330-557-3021
    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @John Underwood:

    I assume you’re doing flips or have other properties now since 22k is below the poverty level?

    HA! No I live off of $22k, other house is a cardboard box. I have a cohost business and a STR maintenance business. It's been a whirlwind for sure.

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Sarah Kensinger:

    Congrats!! Keep up the good work, I have a feeling you’re just getting started!

    Thank you!  It’s been very rewarding! 
    1Reply
  • Brooklyn McCarty
    Investor · Member since 2022 · 1k+ posts · 754 votes
    3y

    A job well done!

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Brooklyn McCarty:

    A job well done!


     Thank you!

    0Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    3y

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Kerry Baird:

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    Wow that’s amazing!  My plan was 5 houses too in the next 8 years but then the market went crazy.  Waiting to see what happens in the next year or so.  In the meantime I’ll just keep growing my business. 
    1Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    3y
    Quote from @Curtis Porter: 

    @Brooklyn McCarty:    @Avery Carl   @John Underwood:
    Quote from @Kerry Baird:

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    Wow that’s amazing!  My plan was 5 houses too in the next 8 years but then the market went crazy.  Waiting to see what happens in the next year or so.  In the meantime I’ll just keep growing my business. 

    I just bought a 5 bed 3 bath with pool in North Phoenix under Shadow Mtn to rehab and turn into an STR. Almost ready to go live.

    In January AirDNA said $545 per night average for trailing 12 months with 67% occupancy, it now says $303 per night average for trailing 12 months with 71.1% occupancy. That's a drop from $131K gross a year to $77k gross a year or about a 58.7% drop. Obviously that's a huge drop. I understand this is the slow season but the numbers supposedly are for a twelve month period in both instances and are supposed to reflect similar bookings near by.

    So, I'm curious if you have seen a drop year on year?

    Or, is AirDNA that much off the mark and therefore useless?

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Account Closed:
    Quote from @Curtis Porter: 

    @Brooklyn McCarty:    @Avery Carl   @John Underwood:
    Quote from @Kerry Baird:

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    Wow that’s amazing!  My plan was 5 houses too in the next 8 years but then the market went crazy.  Waiting to see what happens in the next year or so.  In the meantime I’ll just keep growing my business. 

    I just bought a 5 bed 3 bath with pool in North Phoenix under Shadow Mtn to rehab and turn into an STR. Almost ready to go live.

    In January AirDNA said $545 per night average for trailing 12 months with 67% occupancy, it now says $303 per night average for trailing 12 months with 71.1% occupancy. That's a drop from $131K gross a year to $77k gross a year or about a 58.7% drop. Obviously that's a huge drop. I understand this is the slow season but the numbers supposedly are for a twelve month period in both instances and are supposed to reflect similar bookings near by.

    So, I'm curious if you have seen a drop year on year?

    Or, is AirDNA that much off the mark and therefore useless?

    I’d be curious to see your property.  I manage a 3 bed 2 bath right by shadow mountain. Non heated pool, sleeps 6 but a really cool back yard.  Last year grossed $70k.  This year to date it’s done $38k.   there’s a massive slowdown Going on.  It really depends on how high end your property is and what amenities you offer.  In the winter I can see you getting $500/night, my guess is you’re gonna sleep 10?  Your first year is the hardest.  I takes a while to ramp up bookings, get reviews etc.  You will probably need to come down in price to incentivize bookings but it’s hard to say without seeing the property.   there’s an over abundance of mid range rentals so it’s driving down rates.  I have 2 rentals of my own and I cohost/manage another 17 with 2 more coming on board.  I’m spread out through Scottsdale, N Phoenix and the west side. I have some super high end ones and some mid range.   
    0Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    3y
    Quote from @Curtis Porter:
    Quote from @Account Closed:
    Quote from @Curtis Porter: 

    @Brooklyn McCarty:    @Avery Carl   @John Underwood:
    Quote from @Kerry Baird:

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    Wow that’s amazing!  My plan was 5 houses too in the next 8 years but then the market went crazy.  Waiting to see what happens in the next year or so.  In the meantime I’ll just keep growing my business. 

    I just bought a 5 bed 3 bath with pool in North Phoenix under Shadow Mtn to rehab and turn into an STR. Almost ready to go live.

    In January AirDNA said $545 per night average for trailing 12 months with 67% occupancy, it now says $303 per night average for trailing 12 months with 71.1% occupancy. That's a drop from $131K gross a year to $77k gross a year or about a 58.7% drop. Obviously that's a huge drop. I understand this is the slow season but the numbers supposedly are for a twelve month period in both instances and are supposed to reflect similar bookings near by.

    So, I'm curious if you have seen a drop year on year?

    Or, is AirDNA that much off the mark and therefore useless?

    I’d be curious to see your property.  I manage a 3 bed 2 bath right by shadow mountain. Non heated pool, sleeps 6 but a really cool back yard.  Last year grossed $70k.  This year to date it’s done $38k.   there’s a massive slowdown Going on.  It really depends on how high end your property is and what amenities you offer.  In the winter I can see you getting $500/night, my guess is you’re gonna sleep 10?  Your first year is the hardest.  I takes a while to ramp up bookings, get reviews etc.  You will probably need to come down in price to incentivize bookings but it’s hard to say without seeing the property.   there’s an over abundance of mid range rentals so it’s driving down rates.  I have 2 rentals of my own and I cohost/manage another 17 with 2 more coming on board.  I’m spread out through Scottsdale, N Phoenix and the west side. I have some super high end ones and some mid range.   



    Looks like you've really gotten big time into STRs. Looking good! 

    It's around the corner from yours. ;-) Same HOA. I'll DM you the address. There is one directly across from me, yours which is about a block and a half away and two others a couple of blocks south. The view from the upper deck is the McDowells.

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Account Closed:
    Quote from @Curtis Porter:
    Quote from @Account Closed:
    Quote from @Curtis Porter: 

    @Brooklyn McCarty:    @Avery Carl   @John Underwood:
    Quote from @Kerry Baird:

    @Curtis Porter, thanks for coming back to post that old draft.  You have had a wild ride, and I’m glad you shared it with us.  

    Our original goal, probably from Rich Dad Poor Dad, was 5 houses that were paid off.  My thought was to replace my military pension, as I got out early to take care of our kids.  I started out by doing everything myself, because we were young military with very little extra income.  We kept adding houses and doing less work as time went on.  I have purchased 39 houses while serving my country and then being a full time mom as my husband finished his career.  I think my pension would be $2000 or so a month, in comparison to the rental income generated by even those original 5 houses.

    Wow that’s amazing!  My plan was 5 houses too in the next 8 years but then the market went crazy.  Waiting to see what happens in the next year or so.  In the meantime I’ll just keep growing my business. 

    I just bought a 5 bed 3 bath with pool in North Phoenix under Shadow Mtn to rehab and turn into an STR. Almost ready to go live.

    In January AirDNA said $545 per night average for trailing 12 months with 67% occupancy, it now says $303 per night average for trailing 12 months with 71.1% occupancy. That's a drop from $131K gross a year to $77k gross a year or about a 58.7% drop. Obviously that's a huge drop. I understand this is the slow season but the numbers supposedly are for a twelve month period in both instances and are supposed to reflect similar bookings near by.

    So, I'm curious if you have seen a drop year on year?

    Or, is AirDNA that much off the mark and therefore useless?

    I’d be curious to see your property.  I manage a 3 bed 2 bath right by shadow mountain. Non heated pool, sleeps 6 but a really cool back yard.  Last year grossed $70k.  This year to date it’s done $38k.   there’s a massive slowdown Going on.  It really depends on how high end your property is and what amenities you offer.  In the winter I can see you getting $500/night, my guess is you’re gonna sleep 10?  Your first year is the hardest.  I takes a while to ramp up bookings, get reviews etc.  You will probably need to come down in price to incentivize bookings but it’s hard to say without seeing the property.   there’s an over abundance of mid range rentals so it’s driving down rates.  I have 2 rentals of my own and I cohost/manage another 17 with 2 more coming on board.  I’m spread out through Scottsdale, N Phoenix and the west side. I have some super high end ones and some mid range.   
    It's around the corner from yours. ;-) Same HOA. I'll DM you the address. There is one directly across from me, yours which is about a block and a half away and two others a couple of blocks south. The view from the upper deck is the McDowells.



    That property for the last 365 days has a 69% occupancy rate. It’s down 13% from the previous 365.  Some of this is skewed a little due to cancellations we allowed but my rolling average on all homes is 72%.  That number will come up a bit by December as many of these listings are newer.  
    0Reply
  • Kenneth RolfePro Member
    Boise, ID · Member since 2018 · 57 posts · 39 votes
    3y
    Quote from @Curtis Porter:
    Quote from @John Underwood:

    I assume you’re doing flips or have other properties now since 22k is below the poverty level?

    HA! No I live off of $22k, other house is a cardboard box. I have a cohost business and a STR maintenance business. It's been a whirlwind for sure.

    Hey Curtis, congrats!  I love hearing stories like yours.  I’m curious what made you decide to start your cohosting and maintenance business?  What was the transition like from running your own STR to now 17+?
    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Kenneth Rolfe:
    Quote from @Curtis Porter:
    Quote from @John Underwood:

    I assume you’re doing flips or have other properties now since 22k is below the poverty level?

    HA! No I live off of $22k, other house is a cardboard box. I have a cohost business and a STR maintenance business. It's been a whirlwind for sure.

    Hey Curtis, congrats!  I love hearing stories like yours.  I’m curious what made you decide to start your cohosting and maintenance business?  What was the transition like from running your own STR to now 17+?
    I got involved in local Airbnb FB groups and saw a need for on call handyman work. It’s really hard to find people to help out quickly and with Airbnb guests you need immediate help.  I was working for Hitachi powertools at the time and had lots of tools and new how to fix things so I started helping out owners who self managed out of state.  That quickly became a full time job and I was able to get a unique perspective of STR.  I met clients through that business who asked me to help cohost.  It’s really hard to do cohosting or managing unless you have a stream of clients that are investors like real estate agents or lenders would have.  Where you can scoop up business easily.  I didn’t get my first cohost client until Nov 21.  The rest came in 2022 and 2023.  All word of mouth referrals or clients I had worked with.  I stay pretty active in those Local FB groups and that’s where the majority of my business comes from. 
    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Gratz! I didn't read the post though. Just that everyone said it was awesome.

    That wall of text with no breaks...just can't do it.

    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @Michael Baum:

    Gratz! I didn't read the post though. Just that everyone said it was awesome.

    That wall of text with no breaks...just can't do it.

    Thank you! Want me to add pictures?  Lol jk 

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y
    Quote from @Curtis Porter:
    Quote from @Michael Baum:

    Gratz! I didn't read the post though. Just that everyone said it was awesome.

    That wall of text with no breaks...just can't do it.

    Thank you! Want me to add pictures?  Lol jk 

    Hehe! I do like pics, but I like paragraphs even better!
    0Reply
  • KiKi ChaseBusiness Member
    Real Estate Agent · Indianapolis, IN · Member since 2022 · 184 posts · 75 votes
    3y

    Wow! This is super awesome. Keep it up! :)

    Brentwood Collective54 Reviews
    View Page
    0Reply
  • Curtis Porter
    OP
    Property Manager · Peoria Arizona · Member since 2019 · 39 posts · 24 votes
    3y
    Quote from @KiKi Chase:

    Wow! This is super awesome. Keep it up! :)

    Thank you!  
    0Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    2y
    Quote from @Curtis Porter:
    Quote from @KiKi Chase:

    Wow! This is super awesome. Keep it up! :)

    Thank you!  
    Any change in occupancy rates on your Sonoran Hills place?
    0Reply
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