All Forum Posts by: Melanie Johnston

@Account Closed

I met an awesome property manager today who was a featured speaker at an AZREIA investors’ bus tour event. Smart as a whip and offers great advice to landlords at all stages of investing. Spent a lot of time with her.

I’m going to do a video interview with her and share it on BP.

FYI: She charges a 10% monthly management fee and a tenant placement fee between $400 and $1200 (luxury rental) depending on the rent amount. She does all the tenant apps and investigations and lets you choose.

Compare her to the others I’ve shared above. Her info:

Barbara Habbeshaw | AZ Residential Management

You can tell her I sent you, but just for goodwill, not any compensation from her.

I was very impressed. I think you will be too!

Melanie

@Steve Vaughan 

Thanks for reaching out, Steve. Four federal returns means you've got a lot going on!

Here are 2 good options for PM:

https://www.brewerstrattonpm.com/

https://www.eandgrealestate.com/owner/management-services/

Let me know if you need more.

Melanie

@Account Closed you are very welcome. I have a bit more info on my website at PhoenixScottsdale.realestate/invest

I spoke to investors about Arizona at a Honolulu REI meeting last month, so that's why the inclusion of Hawaiian Airlines.

Because of good questions like yours, I will adding more resources to that page!

Melanie

Stuart you will find that the Phoenix Metro area is both a good buy-and-hold market and an awesome Airbnb market. Phoenix was just ranked #1 for rent increases in the entire country. And with all the sports, car auctions, golf and Spring Training, you will have an easy time attracting STR guests 6-8 months of the year. Then you have the flexibility to attract multi-month guests over the summer.

You mention a preference for Phoenix. There is opportunity for both types of investments for sure. When it comes to STR, Scottsdale is a well known vacation destination so people naturally flock here.

If you wanted to start small, I would suggest a Scottsdale condo or SFR neighborhood that allows short term rentals, if that's the route you go. I have a Scottsdale STR and I have gone from 3-night minimum to monthly stays in the winter. Lots of demand from Snowbirds and easier and less costly to maintain and manage.

Guests who pay $5800 a month for a STR tend to take excellent care of your property.

So much more to share! You'll get some great responses to this thread. I'm happy to share specifics of my STR and suggest some Scottsdale neighborhoods to investigate, if you want to go that route.

Melanie

@Jeff Crowson

Jeff, congratulations on working hard to put yourself in this awesome position! You may feel like a newbie, but your questions and concerns show that you are a thoughtful investor looking at opportunities from all angles.

I live in Scottsdale, but just met with a bunch of real estate investors in Honolulu and one of them was really strong on middle Tennessee. Since you already own a house in Scottsdale, it might also make sense for you to consider another purchase in Metro Phoenix, especially considering company expansions and job growth are so strong here. Good rentals are in short supply. This could potentially give you some PM advantages.

As far as your important 1031 exchange questions, I have a resource for you that I will DM you.

Congrats again on getting yourself into such a strong investing position!

Melanie

@Kevin Reinell

Here are 2 good options to get you started so that you can run your numbers:

https://www.brewerstrattonpm.com/

https://www.eandgrealestate.com/owner/management-services/

I can provide more if you need them. Happy to provide any support I can to help you pursue your investing goals!

Melanie

@Kevin Reinell and @Coco Cook

There is so much opportunity in the Metro Phoenix market right now. I am helping 2 clients find homes in Scottsdale to rent for $2,000 a month—and the competition is fierce. It’s such a great time to be a landlord here.

I spoke to a Honolulu REI group run by BP members (while visiting there earlier this month this) and shared some of the stats on what's happening here. Major investment and expansion by companies, including Microsoft, Nike and Amazon.

And Phoenix has the fastest-rising rental rates. You can see these reports and more at:

PhoenixScottsdale.realestate/invest

Depending on your price point you could go for a condo in Scottsdale or a single family home near employment centers.

So many options! Plus this is a great place to visit to check on your investments.

You will find properties here to suit your investment profile. Every reason to get started on your due diligence.

Let me know if I can help.

Melanie

George, this looks amazing! You did an excellent job with this remodel. By the look of the furnishings, are you going with a STR?

Thank you, @Kiley N. Wishing you and your group continued success!

Thank you to everyone who welcomed me and showed me the true meaning of Aloha Spirit! And thank you to @Travis Henry and @Kiley N. for spearheading such a great group.

I really enjoyed hearing how you are each investing. I hope you enjoyed the information I shared about the Metro Phoenix real estate market. If you have any questions or would like to set up any auto MLS searches to get to know different zip codes, neighborhoods or property types, reach out to me and I can easily set those up. And, no matter what off-island market you pursue, don't forget that sold searches are a great way to track a segment that interests you.

Wishing you Bigger Pockets for all your investing returns!

Melanie

www.hawaiitoaz.com