We are looking to invest our earnings on a sale into an STR in Scottsdale. I would love to know who here has done well and would you advise against or for this strategy.
I believe Scottsdale will continue to have demand for short term rentals and that if you choose a good property, don't overpay & manage it correctly you can make a decent return, but keep in mind the following:
1. Scottsdale is currently looking to regulate the industry more and they have a short term working group that is meeting every 3-4 weeks to try to implement more regulation. The next meeting is this afternoon. Here are some links to review:
2. Property values have risen significantly in the Scottsdale area over the past year and there is also a lot of competition in the STR market in Scottsdale.
@Eddie Antuna I have some clients that have done incredibly well with Scottsdale STRs. With this hot market, and booming STR opportunities, that success has now been priced into the Real Estate prices though. If you can find a deal, jump on it! Just make sure you're being extra prudent with your numbers. Best of luck!