All Forum Posts by: Bob Willis

To me it looks like the Phoenix market is suffering. The entire valley is saturated and you are seeing people starting to sell their STR. I have been in the STR market here for six years. This is the slowest I've seen it. Rates and occupancy are down. The last STR I bought here (2019) was the only one within the entire subdivision when purchased, now there are more than 10. This is a 1 sq mile area, and not in Scottsdale (where saturation is really bad). Here is it is going to get worse before it gets better (if it does, but that is another question). I have the means to ride it out and I am looking for buying opportunities in the coming months/years. Just my .02

Zillow has worked for me....

All I know is that in the summer of 2021 I couldn't find an HVAC guy to answer my calls or give a reasonable response time - now they show up the next day.

@Tony S. congrats on the deal. Would you care to share on how you found it, what are your plans, etc etc...

Hey @Nathan R Andersen - what are you trying to do with the Private Money? Is there something you are specifically trying to find out about the lender with your vetting? If they have the money to lend to you and you like the terms won't you be good to go? Am I missing something? Good luck.

I own a 4BR 2 BA house in Tempe I rent out by the room. Utilities are included with the rent. I charge $775/month. I have no problem keeping the rooms rented, BUT my son is in one of the rooms, so I have eyes on the ground. One other thing to note, I pay for a monthly cleaning service. I rent the rooms via Zillow (which posts them on HotPad). Good luck.

So is the plan to sell, it sounds like that, or are you going to operate it? If you plan to sell, how do you determine the price if it is not being run?

 Hey @Nathan Holt any update on how the effort is going? Where are you at in the process?

 Just a comment on this @Karan Kanekar - the title company does not dictate when you close. You can hold closing if all conditions are not met to your liking prior to close. Small claims won't require a lawyer, I guess understanding how much this is going to cost will determine whether to sue or not. Sorry you went through this. Best of luck.

Click on the Network menu item at the top of the page and click on Meetups - there you can search the areas you want.