All Forum Posts by: Stone Jin

Ah, I have a full time job plus managing our portfolio. The amount of effort to manage the VR was significantly greater than SFH. Let us know what you decide.

Side note, we have a friend who operates VR near desert ridge.  She has having similar difficulties.  I think her plan is to rent long term during off season and then short term in peak season and just pay the fines as they come.  An interesting strategy that you may consider.

We've operated our units on VRBO and Airbnb since 2011.  Like I said, we had 4 units and generally were able to consistently rent out through the year.   However, with 4 it was like a fulltime job to manage bookings and housekeeping and maitenance.   Also noticed the last couple of year the # of inquiries have dropped sign

We have a number of regular rentals, so we sold and 1031'd into SFHs in East valley and so have been fairly happy with our decision.

Stone

We owned 4 VR in Chandler up until June of this year.  We saw the writing on the walls.  The number of listings on AirBnB has gone up like 50% from 2015 to 2016 and doesn't seem to be slowing down.  The issue with VR in Phoenix is that in the winter time, everyone will sell out, however if you don't rent out the summer and fall consistently your likely not able to meet your forecasted revenue.

I would do a comparison of renting out your unit full time vs short term.  Also take your time into consideration as well as all other costs.  I think you may be surprised that the delta may not be as drastic as you'd think.  

Real estate is very local.  I would say depends on where you are buying the unit.  A 4 plex in south scottsdale or Arcadia at that price may have good upside on both equity and rents.  Phoenix is still a strong market with positive net migration.  If you are buying the 4 plex in a neighborhood is not in the path of progress, then these number wouldn't entice me to buy.  Unless you really want to live in that neighborhood, i think you can do better.

Funny story, so I watch the cop ask the tenant if it was a drug house.  The tenant replies, "of course not, however I'm not here all the time".  I had an internal giggle.  Only a drug house when they are not around.

They were stealing electricity from the outside.  I went back to the unit an hour later, and they had plugged the cord back in.  I called the police immediately.  

I found out they were being evicted so only 5 more days.  I didn't press charges since they were going to be gone soon.  I shut off my breaker to the outlet in front.

1. Yes I'd rather not deal with drug addicts over stolen power. 2. I reported the drug activity to the HOA months ago to let the owners know. I try to be a good citizen of the community, however with HOA's nothing is ever straight forward (unless it is weeds in your front yard :) )

Hopefully this will end soon.  

Hello All,

We own a townhome in AZ that is located next door to a possible crack den. Our tenant had been complaining about the people coming and going at all hours of the day. So naturally I called the HOA and filed a complaint to the owner (whom is an out of state investor), the reason was a mild your tenants are parking in our tenant's designated parking spots.

Since then our tenant has moved out and we took possession of the property. I've been over at 6AM several times and there is always a different person sitting on the porch looking dazed and confused. Not wanting to cause drama I just ignored them as they blankly ignored me. However today, I went over to show the unit and find an extension cord running from my unit to their unit. What are my options? Call the cops? Call the HOA and file another complaint? Let me know, thank you in advance.

Stone

Handyman Candy Shop http://bmoaz.com/

There are also communities where the owner does not have to be 55 but the resident does.  You may explore those communities as well.

Also, gangplank in chandler has conference rooms you can use for free.  We've had some investor meet ups hosted there before.