Second investment property Air BNB

[Kyle Barnhart]

Hello,

I got my first property last year and I am looking to grow my portfolio. Has anyone done well in the Phoenix area near Dbacks and Suns stadiums with renting out properties for Air BNB? I have seen townhouse and apartments selling for under 250k

[Jake Kain]

Quote from @Greg Klei:

Quote from @Jake Kain:

I have a townhouse that is a STR in Tempe. 2 bedroom, 1 bath and about 900sf and no HOA. It's less than 30 minutes from pretty much any major event in the Phoenix area (20ish to the area you mentioned) and it does very well, especially in the peak season between Jan-April.

That's awesome, glad it's doing well! I have a STR single family home in Old Town Scottsdale myself and same thing has no HOA, does great. Arizona is still quite oversaturated, unfortunately.

Old town is a great area. My STR is only about 10 min south. I have some clients in escrow on an amazing turnkey single family in old town that they will use as a second home and STR investment.

Over saturated, sure. Just like anything - the ones that take it serious and run it like a business will take the market share. The hobbyists are exiting in droves.. which is apparent by the large amount of turnkey STR listed on the MLS right now. Just like any other niche, everyone flocks to the "easy" money until it's not easy anymore. Pareto's 80/20 principle will stand true again.