All Forum Posts by: Chad Cherry

 Thanks George! What area of Flagstaff is your 3/2 located? What's your approach when looking at different neighborhoods in Flag? Thanks!

Quote from @Patrick Kaiser:

I had a friend that had a small an Airbnb management company and they ran analysis on the best ROI for airbnb and at that time, which in fairness was about 18 months ago (and they sold their business for 7 figures to some company out of California) but the two highest zip codes were 85032 which is actually Phoenix and then just Val Vista lakes but only if the house was on the water. Now, houses on water in VVL have skyrocketed, but IMO houses on lakes still represent a good value, but also 85032 but the house has to be unique and preferably on a hill or something. But property taxes lower in phoenix, close to airport, close to Kierland commons and many resorts and event center, close to Barrett Jackson, etc.

But I'd also like to point out that many many people I know who bought airbnb's in the last few years several who had 6 figure profits last year are selling today because bookings are down 50% this year and the future is bleak. If you're running AirDNA, just be aware that the numbers based upon past might be very very different from future revenues. 

edit: maybe this one?  https://www.flexmls.com/share/...

Thanks Patrick! That's the exact area that I've been leaning towards, as I've seen solid STR projections with reasonable home prices. Plus the rebuild of PV Mall just adds potential appreciation in the future (but not banking on that alone).

That's a great note about AirDNA and what you've seen with recent bookings! I haven't heard about it being down ~50%, so definitely something I need to dig more into. In a best case scenario, part of my strategy is to find one where the numbers also work as a LTR in a worst case scenario. This area seems to be perfect for lowering risk.

Hi BP Phoenix! #Rookie here. My wife and I live in the North Phoenix area and are looking to buy our first rental property. We are about to close on a fixed-rate Home Equity loan on our primary house, which we plan to put as the down payment on a property. 

I’ve been analyzing properties in the North Scottsdale, North Phoenix, Old Town Scottsdale, and PV areas that could be good STRs. I know these areas well and so I’ve been comfortable with analyzing these areas. However, while the numbers are working well according to AirDNA, I am wondering if I should be looking at Mesa/Chandler/Gilbert areas for STR instead? Especially since our down payment will need to be $130k - $140k at 20%, and those types of properties are rather rare in the areas I’ve been looking. Are the Mesa/Chandler/Gilbert good areas for Airbnb in the Phoenix area? Any recommendations on neighborhoods?

One other option we’ve thought of is looking at Mund’s Park/Flagstaff area for a 2nd home/vacation property (only 10% down), but I worry that those markets feel more unstable in comparison to Phoenix with the uncertain future market.

Would love to hear some thoughts. Thanks so much for the help!