All Forum Posts by: Curtis Porter
Curtis Porter has started 1 posts and replied 36 times.
Post: Expanding your str portfolio
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
The best thing I did was buying a primary home and using equity to purchase a rental. I made some mistakes a long the way and it took me 17 years but things start to snowball once you get your first.
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
Quote from @KiKi Wood:
Wow! This is super awesome. Keep it up! :)
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
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
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
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.
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
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.
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?
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
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.
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?
Post: Found a draft post from 2020 and wanted to share my results
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
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.
Post: Short Term Rental Cleaners
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
Curious how your rental is going? I know a few good cleaning companies that I use. Well and good is one and Kleenwerx is the other.
Post: Should I let someone Airbnb Arbitrage my home?
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
Be careful, A lot of these requests come from Indonesia etc. I currently arbitrage a place in Scottsdale and it's going very well, but I have a legit local Airbnb business. It can be good for your property especially with how many cleans it gets per month and all the upkeep and maintenance it needs to stay rentable and get good reviews. BUT there's a lot of dumb kids trying get rich schemes and have no business trying to arbitrage. If your property is STR worthy I would think about doing it yourself or partnering with someone. Start up costs to furnish are $15-$20k. Realistically mid range rentals are going to gross $50k year one depending on what city, amenities etc. My arbitrage deal is for 3 years as the first year is basically break even. Where is yours located?
Post: investors in Scottsdale, Arizona, help with deal analysis
- Property Manager
- Peoria Arizona
- Posts 39
- Votes 24
Don't do it! No pool is a huge issue and once you factor in furnishings, utilities etc you'll be lucky to break even in 2 years. You also need someone who lives within an hour drive of the property. I cohost two very Nice properties in OT, there's so many STR's that are going LTR right now, especially ones without pools.