I’ve been in real estate (past agent and current investor) for many years and love it.
I’m currently looking for a property in the Scottsdale AZ area (and possibly further out of the deal is right). I’ve never lived their but vacationed many times. So I’m looking for someone who’s an expert in the market to help me find the right property (obviously willing to pay a commission or finder fee).
I’m looking for something I can live in 8 months out of the year (excluding the hottest months). I’d like something with a casita to provide as a vacation rental to help pay the mortgage as prices are high.
I’d like to stay under 600k but can go higher for the right property.
After I find this property for myself I’ll also want to invest in the area so I’m looking for the right pro to help me.
Real Estate Agent · Scottsdale, AZ · Member since 2018 · 412 posts · 366 votes
7y
Hi, Michael. There are more properties with casitas located in newer built communities in North Scottsdale. But for short-term rental success, or long-term, staying close to central Scottsdale, with all the entertainment, restaurants and sporting events, is a smart move. I just checked the MLS and saw a few properties that might fit your needs and that also fall within your price range. Let me know if you want to know more.
Investor · Phoenix, AZ · Member since 2018 · 420 posts · 388 votes
7y
Hey Mike,
I haven’t officially received my real estate license (I expect it to be issued within 4 weeks) but as 15 year engineer, Arizona native, and currently a project manager for one of the largest developers in the country I believe I’d prove a great resource for an out of state investor. If you’d like to connect I can send you a few recommendations and we can go from there.
Real Estate Agent · Phoenix, AZ · Member since 2012 · 640 posts · 457 votes
7y
@Michael Anderson There are many properties with semi-attached casitas or mother in law suites up in North Scottsdale. The size and layout of the casita really dictates whether it will be a good fit for short term rental, or is more suited to host a family member for an extended stay. I have a client who's done very well with a small detached casita with a studio layout, bare bones kitchenette, and a full size bathroom (all around 200 sqft). At a minimum, travelers will expect a kitchen area with sink, small fridge, micro, and hot plate, along with a bathroom. There are some truly stunning casitas in newer builds that would be great for short or longer term tenants.
South Scottsdale generally has smaller homes and lots that just don't have the space for detached casitas, although some have mother in law rooms with separate entrances.
Attorney, CPA, Broker & Author · Scottsdale, AZ · Member since 2018 · 532 posts · 488 votes
7y
@Michael Anderson When evaluating a property, make sure there aren't any HOA restrictions that prohibit short term rentals. Those types of restrictions can shut down a short term rental operation in a heartbeat.
Real Estate Agent · Scottsdale, AZ · Member since 2017 · 115 posts · 102 votes
7y
@Michael Anderson I just sent you a message. I am a local Realtor/ Investor in the Scottsdale market that specializes in both investing & selling short term rentals and has a fleet of 16 vacation rentals. I also help my client's find vacation homes that meet my strategy and transition them into extremely lucrative properties. On average, my properties see annual cash on cash returns of 28-36%. Feel free to reach out if you have any questions or I would love to be of any assistance.