Hello! I have logged into BP maybe 3 times in my life but today I went to post something and a draft post came up from 2020 when I was trying to buy a rental home. I typed it out and never posted it. I have attached a screenshot and wanted to share what happened over the last 3 years. If you are in the greater Phoenix Arizona short term rental game you may know who I am. Back in 2020 I took a $70K heloc on my primary residence @4.75% and wanted to buy a rental property. For the past 20 years I had been interested in flipping homes but just never had money to do so (I have 4 young kids). During Covid the local government was selling off their HUD homes and I found one that nobody wanted selling for $211k. It's a 3 bed 2 bath home just over 1,000 sq ft, no pool, old neighborhood and zero upgrades. The house was gross! I offered $215k and no conditions. They accepted my offer in July 2020 and it did not close until October 2020 (typical government timeline lol). Since I had planned on flipping homes half my life I taught myself plumbing, electrical, drywall, flooring work etc. My big plan was to remodel the house myself in month which ended up taking 4 months! I replaced both bathrooms, tiled the floor, built a breakfast bar in the kitchen, painted cabinets and did a concrete overlay for all the countertops. About 2 weeks before I was done I made the house too nice for a long term rental so I decided to furnish it and try Airbnb. I quickly made a game room out of the garage to try and attract families. I had zero experience with it and didn't know if my place would get rented so I listed it at $99/night for 6 people. This was mid Jan 2021 (peak season) and I booked up through April within a few weeks. I even did all the turnovers myself cause I wanted to know as much as I could about running a short term rental as well as pocket the cleaning fee to help offset my costs. I definitely made some mistakes starting out and tried to get better with each booking. During the year I kept improving the home, added turf in back with minimal patio furniture (camping chairs). By early 2022 I added a hottub, firepit and some nicer patio furniture. I had close to 80 5 star reviews. This past year I grossed almost $50k (Net 22k). This rental kicked off my short term rental businesses and in Jan 2023 I left my full time job to work for myself. Attached is my draft post. It's been a wild 3 years.

Peoria, Arizona

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