All Forum Posts by: Landon Moore

@Jeffrey Smith

Ditto. Also bullish. Purchasing in right markets is key.

One potential exit strategy (if location make sense). Would simply advertise it as a furnished rental for some time to professionals. Or sell off the furniture and rent it out unfurnished. Perhaps do a cash out refi beforehand. Perhaps sell. And move on.

@Ryan Swan and his team are the go to for anything STR in Phoenix/Scottsdale.

@Reilly Carpenter
Not a bad idea. My wife and I own a 4/2 home and a guesthouse for AirBnB. Agree with what @Marc Rice says above. The 1-2 bed studios perform outstanding in terms of occupancy. The one thing I would consider is the kitchen situation in each. Most of our guests enjoy cooking. Perhaps place a couple gas grills in the common areas. Outdoor dining, with cool bistro lighting. Hot tub? YOu could probably pick up a hot tub for $3k and have it paid for in your first month with all three properties. Just some thoughts. 

Make sure to not only register each individual property with the city, but also apply for your TPT license for each property address. Doing so ahead of time will save you the headache of a late application.

PM me, I have just the guy for you, I can't put numbers on the forum

Great article @Sebastian Giraldo!

New to the STR space, recently picked up a SFR with guest house in the backyard. Started taking reservations two weeks ago and we are completely booked through mid-September. That is in arguably the worst of the Phoenix, AZ weather with temps in the mid 110+. No sporting events, concerts really happening. Success thus far over here!

@Brandon C.
Great question and there is a strategy that is employed by seasoned BRRRR'rs haha. Called Delayed Financing.Check out @Chris Levarek website discussing the stategy at 

https://www.valkeregroup.com/blog/delayed-financing

He give a great explanation of how to employee it. Additionally check out the BP Podcast 301 with @Alexander Felice where he discusses how quick he can process a BRRRR. This would be a great start.

@Kyle Parcell Great questions. 

I too live in the Phoenix area. I moved here two years ago and purchased my first home. Fast forward two years to today, I completed a cash out refi, and now I am using that as a down payment on our next property. I have tenants moving in starting September to the house.

The next house has a guesthouse in the back that I am AirBnB'ing. The owners already switched me over to the account and I have multiple bookings past closing date. So my only recommendation would be to make what you are living in be a non-emotional decisoin and plan on making that a rental. Then keep going. and eventually you will find yourself in a position where you can be more prepared for opportunity. 

Good luck and have fun!

@Anthony DeMichael Where are you looking?

That shouldn't be a problem whatsoever. I wouldn't be surprised if where you are located if you call around to local HML they can guide you. I would call a few, not just simply one. In North I would call Ron Saulnier & Patick Stoy with MC mortgage they are able to explain and help ya understand! Good luck!

YES!

Hello @Eden Yoon.
I have met a few stellar PM's throughout the valley recently. My suggestion is to call and interview each of them for your type of property needs. You will get a great sense of who you want managing it based on that initial reaction and what they offer. Good luck!