All Forum Posts by: Kim Penn

In the case of an AirBnB a keypad would give additional control, but for a standard rental I would stay traditional and use Kwikset locks.  Not sure the keypads are worth the extra cost and maintenance, especially if other doors don't have a keypad.  

The rental option would be my first consideration, but being long distance and not have a reliable contractor in the area will make things difficult.  I assume you have made a detailed list of everything that needs to be done to get the property rental ready.  Will repairs be split between the 3 of you? - If $2800 is a good number, is it worth it?  

Be sure to make a detailed list of all cost associated with each AirBnB unit.  State and local tax, local licenses, insurance, marketing, replenishing cost, etc...all add up.  Good first step, now get to closing!

Like Cody said, being a cash buyer initially sounds good, but having a contingency will knock you down a tier or two.  In the Arizona market right now, you will have to be over asking to stand out with a contingency.

You have a good opportunity to reset your portfolio and get out from under some expenses.  Have you put all your cost on a spreadsheet to see how much you could really save being in your rental one year? 

Also, cities such as Phoenix collect an additional tax for rentals.

I have used the sources you listed along with Zumper.com. How much competition at your price point/location are you showing in MLS?

Glendale's central location in the valley makes it a prime location, but that market has a wide range of neighborhood classes that should be considered before investing.  Opportunity Zones are also available in that area.

If you are able to purchase a property near the college you are attending and rent out rooms to other students, that may be the easiest start to REI. An investor may work with you if you are willing to be a property manager.

It's good for a limited view of a tenants history.  The landlord has to report property issues and payment history.  Application is not automated for updates.