Chicago Cubs Spring Training Mesa Airbnb Wholetail!

[Corey Martinez]

Investment Info:

Condo other investment in Mesa.

Purchase price: $183,000
Cash invested: $12,000
Sale price: $221,000

Short-term rental wholetail!

Located walking distance to the Chicago Cubs Sloan Park spring training facility in Mesa, I knew this property would rent extremely well. And IT DID! I made some very minor cosmetic upgrades, successfully rented it short-term for a few months, and then sold it after only 5 months for a 20.7% return! (about 300% cash on cash.)

I cash flowed, cashed out quick, and learned a lot about running an Airbnb!
Ask me about the hot spots in Phoenix! I'd love to help

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

This location near spring training, ASU, Phoenix sky harbor, Scottsdale, etc. was perfect for a short-term rental. I knew the area very well and I wanted the cash flow.

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

FSBO on Zillow. I negotiated a significant reduction in sale price, and the seller paid my closing costs plus a home warranty ;) For Sale By Owner listings just don't get the kind of exposure necessary to sell for top dollar in the least amount of time. I capitalized on a poorly marketed diamond in the rough.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

I made minor upgrades, furnished it, and managed it.

What was the outcome?

Great ROI

Lessons learned? Challenges?

This property sold for a lot more than any of the comps. I had to really explain to the appraiser all of the demand (4 offers in 1 day above ask) and all of the upgrades.

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

myself ;)