All Forum Posts by: Melanie Johnston

@Gerardo Hernandez

BTW, here is a link to my Airbnb listing:

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=1g7ye0wwv4vx&s=12&id=1&san=68021&cid=1

And here are my remarks:

"Monthly rate is $2,800 from May-September; $4,000 from October-December & April; $5,800 from January-March. Ask about rate discounts for longer-term stays. Utilities, including heating and cooling, lawn care, pool care and basic cable, are included in rent. Utility cap for A/C and heat is $250. Any overage is billed to tenant or subtracted from security deposit."

Melanie

@Gerardo Hernandez Those notes only show on the agent version of the listings. If you want to know details for one of those listings, send me the MLS # and I will get them for you.

@Gerardo Hernandez As supply of available rentals goes up and the high season draws closer, prices do rise. I was helping Canadian clients who were searching 7 months in advance and the best value we could find was a one-bedroom condo that rented for $2500 in January-February. Renters are found primarily through the MLS, as that syndicates the listing to all the major search sites, like Zillow, etc. This dramatically increases your listing's reach.

If we were to list your condo on the MLS, there is a fee that is paid to the agent who brings the renter, and a fee for listing. But together these might be comparable to, or lower than, a fee you would pay Airbnb or VRBO. For antitrust reasons, I will DM you the details. And the nice thing is you don't have to come up with a lease agreement, we handle that for you.

And the renter obviously has to pay an earnest money deposit to hold the rental for them, which then converts to a security deposit upon the beginning of their lease.

I would be happy to help, take photos of your finished rental and do all the legwork/paperwork. Just let me know!

Melanie

@Gerardo Hernandez

Congratulations on getting ready to launch your Airbnb!

I did an MLS search just now for furnished 2 bedrooms in Scottsdale that rent monthly. Here is the link so you can see the results for yourself:

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=1g7ydz9e5ue3&s=12&id=1&san=80470&cid=1

Not visible in a public search are the private remarks that agents add to give more detail. For example, look at the listing that's priced at $2400, there is just one on this list. Here are the private remarks: 

"Monthly Rent through November 30th is $2,400 +$250 utilities. Utilities are a flat fee and include Water, Electric, Gas, Cable TV and WiFi Internet. December and January Rent is $2750+$250 Utilities. February Rent is $4750 + $250 Utilities March Rent is $5750 + $250 Utilities. April Rent is $3250 + $250 Utilities."

So even though the listed price is $2400, that is clearly their low season price. On utilities, sometimes they are extra and sometimes they are included. At my price point, I include AC or heat UP TO $250 and charge for anything over. 

Hope this helps. Let me know if you have any other questions.

Best of luck!

Melanie

@William T Stephens

Glad we are connected! Let me know if I can help.

Melanie

This excerpt from a GlobeSt.com article answers a lot of investors' questions about why Metro Phoenix is worth considering. 

"We’ve grown from a very homogenous employment base in the ’80s, when it was fueled largely by construction and hospitality, to one that’s very diverse. Technology is a big component of that, as is bio-science, manufacturing and distribution, especially in Western Phoenix, which–like Atlanta–is being recognized as a distribution hub. Healthcare, hospitality, tourism, and construction also figure in diversifying the employment base here."    --Todd Braun, the principal at Lee & Associates, Arizona

Read the article here:

https://www.globest.com/2019/08/28/phoenix-rising-a-tale-of-secondary-city-strength/?utm_source=Limitless+Estates&utm_campaign=afec98c004-EMAIL_CAMPAIGN_2019_09_23_06_58&utm_medium=email&utm_term=0_3c16a06b45-afec98c004-106232717&ct=tEMAIL_CAMPAIGN_9_23_2019_12_2&mc_cid=afec98c004&mc_eid=f51342b174&slreturn=20190823163749

@Kristin R.

Yes, they have great meetings. And I meant to say AZREI.org!

Looking forward to helping you.

Melanie

Hi @Kristin R.

Congratulations on starting your journey!

A good place to begin is coming over to attend events where the people you want to meet—contractors, etc.—gather and share ideas. I attend the fix and flip subgroup of the Arizona Real Estate Investors Assn (AZREI) as well as the AZREIA monthly meetings (and some of their educational events) and I’ve met some great people who I’m teaming up with in various ways. Go to AZREIA.com for their meeting schedule.

Coming over also gives you a chance to drive areas and increase your familiarity with neighborhoods that are more likely to give you a greater return on your investment. 

Competition for fix and flip properties is strong because our inventory is at historic lows. That said, opportunities still appear on the MLS and on the buyer lists of our very active wholesale community.

Are you financing your flip? I can recommend some hard money lenders you can evaluate.

A key player on your team will be a contractor you can trust. Also have some names for you. And you can meet them during your due diligence road trip.

I would be happy to show you some neighborhoods that are always in demand. And even explore helping you find off market deals.

Melanie

@W Stephens

Hey, W.

A great place to start is the Arizona Real Estate Investors Assn. AZREI has been around for

many years and is a good place to meet other investors, take classes at all levels and begin to build your own network.

You will find lots of folks that are at your stage, all sharing a passion for investing. Besides the main monthly meeting there are several sub group meetings you can attend on fix and flips, buy-and-holds, etc.

You can google AZREI and attend your first meeting for free, I believe. No better place to immerse yourself in your educational and networking options.

I just attended a creative financing workshop today and I always learn something new.

Hope to see you at a future meeting!

@Jenner Birukow

Hi, Jenner. You will likely bump into many of your BC friends down here!

When is your start time? Are you definite on 6 months? Are you interested in Phoenix as well as Scottsdale? How many bedrooms? What is your budget? I have helped many Canadians search for find book winter places here.

Because the best rentals book up 9 months to a year In advance, your best bet might be getting a STR that is just coming onto the market. I work with investors who are adding new rentals to their portfolios, so I can keep an eye out for one that might fit your needs.

Answers to all these annoying questions will get you closer to your goal!

Best,

Melanie