Airbnb: Chandler Arizona Single Family Home

Airbnb: Chandler Arizona Single Family Home

Member since 2022 · 8 posts · 7 votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $475,000
Cash invested: $100,000

https://airbnb.com/h/deserthideawayaz

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

We want to buy and hold as much as we can and we enjoy hosting guests at Airbnb's!

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

We found it via our realtor.

How did you finance this deal?

Secondary home loan 10% down

What was the outcome?

We got about $12k in credits/buying down the rate by the seller

Lessons learned? Challenges?

Great all around!

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

I recommend OwnUp for finding lenders. They saved us about $10k in fees at closing and a great rate!

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Most Popular Reply

Grant SchroederPro Member
Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 599 posts · 312 votes
3y

@Michael Warthen & @Scott Crawford are you planning to use a 20% down Conv loan for your second STR purchase? You could use a 10% down and No MI Investor loan for 1-4 investment properties through Academy Mortgage if you wanted to put less down on your second AZ STR investment.

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  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    3y

    Nice! Thanks for sharing @Scott Crawford ! 

  • Grant SchroederPro Member
    Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 599 posts · 312 votes
    3y

    Thanks for sharing @Scott Crawford! Did you use a 20% down investment loan or 10% down second home loan?

  • Member since 2022 · 8 posts · 7 votes
    3y
    Quote from @Grant Schroeder:

    Thanks for sharing @Scott Crawford! Did you use a 20% down investment loan or 10% down second home loan?


     Hey Grant! We used a 10% down second home loan through OwnUp.

  • Member since 2022 · 8 posts · 7 votes
    3y
    Quote from @Dmitriy Fomichenko:

    Nice! Thanks for sharing @Scott Crawford ! 


    Thank you, Dmitriy! Hope you had a great Thanksgiving. :)

    Scott

  • Real Estate Agent · Phoenix, AZ · Member since 2022 · 41 posts · 21 votes
    3y

    Congrats Scott!

    I am actively looking for my second primary in Chandler as well and renting out my current. Was there any special requirements for the 10% second home loan? My current situation requires a security deposit from a tenant for my current home and then I can purchase a second. Thanks!

  • Member since 2022 · 8 posts · 7 votes
    3y
    Quote from @Michael Warthen:

    Congrats Scott!

    I am actively looking for my second primary in Chandler as well and renting out my current. Was there any special requirements for the 10% second home loan? My current situation requires a security deposit from a tenant for my current home and then I can purchase a second. Thanks!


    The second home had to be at least 50 miles away from our primary residence. Our primary is in Denver so it wasn’t an issue to have the second in Chandler. 

  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    3y

    Love the wall design in the backyard, great work!

  • Grant SchroederPro Member
    Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 599 posts · 312 votes
    3y

    @Michael Warthen & @Scott Crawford are you planning to use a 20% down Conv loan for your second STR purchase? You could use a 10% down and No MI Investor loan for 1-4 investment properties through Academy Mortgage if you wanted to put less down on your second AZ STR investment.

  • Real Estate Agent · Mesa, AZ · Member since 2017 · 237 posts · 170 votes
    3y

    Good Job! I love the back wall design to help make it trendy and draw in guests.

  • Member since 2022 · 8 posts · 7 votes
    3y

    Thank you for the recommendation of Academy Mortgage, @Grant Schroeder! I will have to check that out!

    Thank you @Matt Greer! We also added the Masters golf flags too to up the feel back there a little bit as well. :) here's a before pic of that backyard area before we added the putting green in!

  • Member since 2022 · 8 posts · 7 votes
    3y
    Quote from @Robin Simon:

    Love the wall design in the backyard, great work!


     Thank you, Robin!

  • Susan ThelenBusiness Member
    Real Estate Agent · Mesa, AZ · Member since 2020 · 91 posts · 39 votes
    3y

    Congrats!

    Jason Mitchell Group510 Reviews
  • Grant SchroederPro Member
    Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 599 posts · 312 votes
    3y

    Of course @Scott Crawford! 

    If you would like to hop on a call this week, please let me know and we can get it scheduled! Academy Mortgage is a direct lender, so we have a few more tools in our toolbelt than a traditional bank or CU.

    It is a 10% down no MI conventional/portfolio product for 1-4 unit investment properties that I have helped a lot of BP folks with in WA, OR, ID, NV, CO & AZ. Instead of putting 20-30% down on a 1-4 unit, investors are able to put 10% down with no MI and continue to scale their portfolio with less cash out of pocket.

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