All Forum Posts by: Casey Cuppy

These can be very tough. On paper all the numbers typically look good but it can turn bad very quickly. Here in Phoenix the homes are amazing and do great during the high season (Jan- April) but the rest of the year I have seen people with vrbo and airbnb properties not get a single day of occupancy. Another thing to consider is the amount of work and time it takes to manage them. You will have to work with people moving in and out constantly as well as cleaning, maintenance, etc. It can become a lot of work very quickly. Most property managers I have dealt with end up charging a premium for management of vacation rentals. I would just be weary of that and make sure to run worst case scenario on everything. 

I also agree with Russell. Be very careful as I have also seen people run into problems local laws and the required time of a lease. Something to look into for sure. 

Great question. Two bedrooms are always good and you tend to get them rented quickly. I also find that these tend to have a bit higher turnover, as it is usually a roommate situation. 

One reason I like 3 and 4 bedroom homes is that you will many times get long term tenants. If you are able to get a family in your rental they tend to have a bit more stability. 

There are no bad rentals if you can get them at a good price and that the numbers make sense. 

I agree with Christine. It is very possible and can go smoothly if you have the right "team" in place. You need to have people you trust with your best interest in mind to help you with this. 

Keith,

Welcome to BP. The multifamily market right now is great in the Phoenix and Scottsdale area. I have had an influx of buyers come into the market in the last 12 months. I love that you guys already have a goal set up. That is the first big step to making progress. If you guys every have any questions please feel free to reach out. 

Daniel,

Welcome to BP. It is a great place to get started. That is great you have a goal set up already. If you should ever need anything or have any questions please let me know.

Darrian,

Congrats on getting into investing. Their are a lot of great resources. If you have any questions I would be happy to answer them for you. Thanks and good luck!

Bryan,

I have a few clients who are in similar situations. A lot of times I will help out the clients and view the properties for them and help negotiate the deal for a small fee if it is off of MLS or an off market deal. If the agent is experience working with investors she should know the relationship is the most important part, not making an extra $1,000 on a deal. If she can provide value to you it will only help both parties in the long run.

Jonathan,

I would suggest setting some goals. Like Brian said. Find out what you want to do and then set goals for it. Once you have those goals start working to meet them. Depending on what you want to do I would definitely find an agent in the area to help you. Make sure you get someone who understands the investment game and is able to provide valuable insight and advice. 

Congrats. that is awesome. It is funny how people will do all of the training and education but never actually make the move to get things going. Thats when big things start to happen. 

Zillow and Trulia are horrible places to pull comps. You need to use the MLS.