Arizona Short-Term Rental

[David Marshall]

Investment Info:

Condo buy & hold investment.

Purchase price: $170,000
Cash invested: $60,000

Old Town Scottsdale Short-Term Rental
https://www.airbnb.com/rooms/plus/38820169?preview_for_ml=true&source_impression_id=p3_1591724166_WwikkhUST8AmmYnl

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

My love of Old Town and personal use of Airbnb

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

Found on the MLS and negotiated directly with the seller through my agent

How did you finance this deal?

5% down FHA

How did you add value to the deal?

Complete remodel and furnishing

What was the outcome?

A short-term rental listed through Airbnb. Revenue ranges from $700 (COVID related in April 2020) to $6500 highest month so far.

Lessons learned? Challenges?

Managing contractors and designers to ensure we stay on budget and time.

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

No