Hey everyone! So I am looking for a potential short term rental in Flagstaff, AZ. I spoke with a few realtor and some really seemed to discredit that strategy. After doing my own research I believe that my head is in the right place however, estimating property performance is not going too hot. If anyone has any tools or suggestions on how to do this your help would be greatly appreciated! I primarily flip homes in central Missouri but plan to move to PHX soon and want to establish some monthly income. Thanks in advance!!!

@Robert Kough

Home prices in Flagstaff that are ideal for vacation rentals are located downtown, west side, fort valley road on way to ski resort are extremely expensive for what you get. Also Airbnb in these areas are over saturated, which drives down nightly rate. Flagstaff is a tough market all around right now. Checkout Williams, gateway to the Grand Canyon and more reasonable prices.

@Weston Miller awesome. Thanks for the advice. Do you know much about Payson or Strawberry. I have heard they may be worth looking into as well.

@Robert Kough

I don’t know a ton about the real estate markets there, but super cool outdoor towns. Very small and a lot of people from phx have cabins there. I would imagine prices are much more reasonable.

@Weston Miller

Also checkout cottonwood, Clarkdale and Jerome. They have annul and coming wine industry that draws good tourist traffic

@Robert Kough

Check out the free course on YouTube of "Airbnb automated" he helped me start my Airbnb low money down.

Checkout any if these areas your interested on VRBO and Airbnb to see how many there are, there nightly prices through different times of the year and to see how full their calendars are. You can also look for ones with lots of positive reviews to see their location, type house and amenities so that you can duplicate what is working well for others.

Originally posted by @John Underwood :

Checkout any if these areas your interested on VRBO and Airbnb to see how many there are, there nightly prices through different times of the year and to see how full their calendars are. You can also look for ones with lots of positive reviews to see their location, type house and amenities so that you can duplicate what is working well for others.

Exactly what he said! Arizona's a great place for STR!! People vacation there almost year-round. Don't let naive realtors get in your way

@John Underwood . Great advice!! I will definitely get on that

Hi Robert,

I currently live in Flagstaff, and do own one property that I rent as a short term on Airbnb + VRBO. I can speak from my own experience only, but it’s true as some here are saying that the market is a tide bit saturated on the short term rentals right now, but I get at least 10-15 nights out of the month booked. I think as long as your property is in a good location, you should be fine. Plus, if you plan to cash flow even if you have to get a tenant, you should be golden! As the rental market here is very good due to NAU. Please feel free to reach out if you have any questions.

@Robert Kough besides marketing as a traditional vacation rental you could also market to corporate travelers/travel nurses, etc. as well to supplement any downtime you may have. As long as you don’t take bookings far in advance this could work.

@Dryelle Medeiros

Sent you a connection request

I have a client that has a few Sedona properties that I would love to throw up on airbnb/Vrbo. I manage 2 of his other short term rental properties in Phoenix and he has stated that he wants to open this one up to short term rentals as well but he hasn't pulled the trigger. I think a sedona STR would be Killer!

@Isaac Moore   Sedona has been in the news the past year as the residents try to stop STRs from taking over their neighborhoods.  Although STRs are legal there, expect neighbors to be intolerant of noise or parking issues.  There are some angry people there.  

@Robert Kough  

I co-own 2 single family homes and 1 patio home in Sedona, AZ with my mom. We purchased these to run them as full-time vacation rentals.

They have done really well. Better than we expected. However:

1. We are noticing the market is getting saturated with vacation rentals
2. We have had to lower our rates to keep high occupancy especially in slow seasons like summer
3. We added a hot tub to one of our properties to see if it would help bookings - it has but it was a big expense
4. Vacation rentals have had negative effects on communities like Sedona by driving up housing costs and making it more difficult to find housing since most people want to turn their properties in vacation rentals
5. We are pretty concerned that the law that originally inspired us to do this is going to get repealed or modified (SB 1350)

If I were buying a property now in AZ I would be more careful about pulling the trigger. My advice would be to make sure you feel like it can still cash-flow even if its not a vacation rental.

@Lauren Kormylo Yes I read that article and so did the owner. I don't think STR's will exist in the same capacity as they do now in Sedona. His properties are really great and keeps them vacant so I would like him to do something!

Hi Robert!  I sent a connection request-  I think I might have some insight for you!  

@Isaac Moore There are two people on this STR forum who rent houses by the bedroom to unrelated people. One rents by the week or month to refinery workers, the other rents by the month to people of all occupations. They make more that way than renting a house long term to just one family, and without the attention required of short term rentals where people check in and out every few days. No supplying linens, etc either. Over 30 days is usually considered long term by municipalities, so wouldn't have the restrictions that are probably coming down the pike for short term. And since local workers are having a hard time finding affordable housing, those would be potential renters for you.

@Weston Miller - I read this thread several months ago as my family and I were searching for a STR in Flagstaff as out-of-state investors. After reading your Williams recommendation we bought a STR in Williams days later. Even in these odd times the property is doing well. Wanted to share a BP success and thank you for the tip!

@Jeff Mohror I'm looking for a STR in Az and am considering Williams. Is your property still doing well?