All Forum Posts by: Jeremy Holden

If your wife wants to retain her job, it could be a good idea to hire a virtual assistant to manage many of the day-to-day activities that will come with the added units. Might be a good middle ground!

Long-term investing has a lower barrier to entry and lower returns. STR's have a higher barrier to entry and high returns. Higher returns also come with higher risk exposure. The skillset an investor requires for each have some overlap but for the most part, one is landlord investing while the other is hospitality investing. There's a lot to consider from the finances to your own skillset.

@Trent Blackwill

@Grant Schroeder

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $392,000
Cash invested: $70,000

BRRR property - ARV 625K

@Amar Vedula

 @Scott E. Great advice, been telling folks the same thing. Way easier on paper 

Thanks for sharing Serge!

 The super bowl is a totally different market dynamic - totally different conversation from people being vacant in 2023. The Superbowl was a perfect storm between media hyping up str owners, str owners giving into unsupported mania/greed, and competition from hotels. 

Diving into these topics... For months we have seen click bait on folks charging 5K, 10K, 15K for the super bowl on local/national news. Unless you have a million-dollar jaw-dropping house, the actual adr was more like 600-1K. This news pushes owners to mania instead of qulaity airdna stats. Owners also overlooked hotel and corporate packages. Hotels were very reasonably priced and were not a part of this mania. Consumers are very savy and opted for market rate hotels instead of gauging str's. 

Arizona is a very popular destination. The Superbowl should not be an indicator of owner issues in 2023. The issues of 2023 are a result of the covid boom coming to an end and travel patterns returning to normal. We forget hotels were basically shutdown for 2 years!

Im a phoenix agent and investor whos been asked this as well.

People that are pricing their current str's or underwriting new str's based on 2020-2022 performance are leading themselves blind. All the data and experts show that 2023 will be more like 2019 with occupancy's in the range of 50% - 60% assuming you are priced reasonably! Its a tough pill to swallow but the market is saturated and there's plenty of professionally designed places. 

My business partner and I purchase a home in a saturated part of mesa in November. Most people on the forums thought we were nuts. Because of our conservative underwriting and pricing data modeling, we're forecasting a 20% CoC this year. For hosts who are struggling, my advice is to dive into the airdna metrics - all the answers to the equation are there.