Updated over 3 years ago on .
The Palms (VacayPrime)
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $770,000
Welcome to "the Palms" this luxury Short Term rental is in the heart of the Kierland commons in the stunning Scottsdale Arizona. This stunning home is sporting a cap rate of 9.7% with an overall cash on cash return of 18%. Our investor is projected to gross 120,000 a year with this incredible home.
What made you interested in investing in this type of deal?
Cap rate of 8% + and Cash on cash return of 15% + Location in a high appreciating market.
How did you find this deal and how did you negotiate it?
As a licensed agent who specializes in acquisitions of Luxury short term rentals, we where able to leverage the MLS listing service, and with access to all the investor tools, where able to make sure that the cap rate and cash on cash made sense in order to put in our offer. The key item that most people miss, is finding out the sellers needs. It was simple once i knew exactly what the seller require in order to lock the contract up.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes Kim Boyko (Stallcop) with 1st Security bank!
