The Valley View

[Jayde Engram]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $530,000
Cash invested: $200,000

The Valley View: Premier Mountainside Living. A fully renovated short term rental located in the heart of Phoenix, Arizona with top-tier mountain and city views.

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

What grabbed my attention right away were the breathtaking views and the size of the backyard. It was my first investment and I knew I wanted to buy soon and had been looking with no luck. I knew it needed some work inside but the backyard and views made this place a true gem.

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

This was a traditional single family home found on Zillow during the pandemic. We discussed directly with the sellers agent and we agreed to terms within 12 hours.

How did you finance this deal?

This was a traditional 30 year fixed conventional loan.

How did you add value to the deal?

The property has been completely renovated inside and out adding wall-to wall tile, quartz countertops throughout, brand new kitchen cabinetry, themed decor and more! All of this along with custom outdoor landscaping with a rooftop deck to truly enhance the experience.

What was the outcome?

The Valley View has been one of the highest performing airbnbs in the area. It has consistently earned 5 stars and has provided guests with an unforgettable experience.

Lessons learned? Challenges?

Contractors never stick to a timeline and unexpected expenses happen during a renovation. It is important to find a trusted team that is going to be dedicated to your timeline and work to make it happen. You also must plan for these instances to occur in your planning process.

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

This was my first deal and I don't recommend the agent I went with. Since then, I have earned my real estate license with My Home Group so I can do it own my own and help others make their dreams come true.