Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago on .

User Stats

5
Posts
0
Votes
Corvin Ty Walker
0
Votes |
5
Posts

The Palms (VacayPrime)

Corvin Ty Walker
Posted

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $770,000

Welcome to "the Palms" this luxury Short Term rental is in the heart of the Kierland commons in the stunning Scottsdale Arizona. This stunning home is sporting a cap rate of 9.7% with an overall cash on cash return of 18%. Our investor is projected to gross 120,000 a year with this incredible home.

What made you interested in investing in this type of deal?

Cap rate of 8% + and Cash on cash return of 15% + Location in a high appreciating market.

How did you find this deal and how did you negotiate it?

As a licensed agent who specializes in acquisitions of Luxury short term rentals, we where able to leverage the MLS listing service, and with access to all the investor tools, where able to make sure that the cap rate and cash on cash made sense in order to put in our offer. The key item that most people miss, is finding out the sellers needs. It was simple once i knew exactly what the seller require in order to lock the contract up.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes Kim Boyko (Stallcop) with 1st Security bank!