All Forum Posts by: Chad McMahan

Hey @Michael Baum, really appreciate the insight, but wholeheartedly disagree. Yes I am in the space, yes I am doing well. That said, doing well compared to what?  I've spent a good amount of money on coaches across many different industries and time and time again I've felt that when I put myself in front of the right coach the growth has been really strong. I can workout at home, somewhat goal less, and do ok. I can set a goal, hire a coach to guide me and hold me accountable to that goal, and I'll hit it every time. No I don't want to pay some kid on youtube $10k to send me his prerecorded videos. Yes I do want to find that needle in a haystack coach looking to help someone grow their management business in the short term rental space. This business is strictly a fun 'few hours at night' deal for me and I'm looking for a coach to help me set a few goals and then hold me accountable on attaining them. Will I pay for that? You bet.

DSCR (Debt Service Coverage Ratio) loans are great for real estate investors, especially those buying rental properties. One big benefit is that these loans look at the property's income rather than the borrower's personal income, which can make qualifying easier for investors with multiple properties. It also allows investors to scale up their portfolio faster. However, the downsides are that DSCR loans often come with higher interest rates and require the property to have strong cash flow to meet the lender's standards. For new investors, DSCR loans can be a good option if the property generates enough rental income, but it's important to carefully check the numbers to ensure the deal is profitable.

Hi Everyone,

Does anyone have any recommendations on general contractors and hard money lenders in the Sedona area? We are looking to rehab a place and then do a cash out refinance.

Thank you.

Is flagstaff saturated for STR? Sedona is saturated, but i dont see that many houses for sale, maybe the returns are still good? i am looking to invest north of Phoenix. Thanks

If your land is in Yavapai county - From the Yavapai County website “As of January 1, 2017, Yavapai County allows the short-term rental of permitted habitable structures. This means that ONLY structures PERMITTED as habitable space for overnight occupancy can be used as short-term rentals. This includes single-family residences, guest houses, apartments and condominiums. This does NOT include travel trailers, recreational vehicles, tents, yurts, gazebos, teepees, sheds, garages, barns, caves, offices or any other structure not permitted for overnight occupancy. Short-term rentals do NOT allow events such as weddings, parties, specialized retreats or any commercial activities.”

So make sure your geodomes qualify for STRs. And that the number of them per acre is permitted. The town of Sedona and the county are not generally in favor of STRs, but have to allow them per state law, and more restrictions have been allowed by the state over time. 

Hi everyone,

Wife and I visited Flagstaff over the weekend and loved it. Now are considering purchasing out there to become part time "snowbirds". We have about $100k to put down which is about 20% in the market we are looking at. With high interest rates, we'd be looking at around $3800 PITI. How successful have any of you been in that market? We can cover that monthly but would be happy with a 50% occupancy to help offset those costs. Recommend any tips (for STRs), any guidance etc.

We live in the Phoenix metro area..

Thanks everyone.

It's semi-recession era in STR-landia..... not that bad, but not that great.
I read occupancy read nationwide now is moving back to pre-covid era, maybe less.

No idea about renewal but since the denial came following the hearing, which takes places only after you appeal the initial denial.. im guessing no. 

I got out of denver county. I sold my business and properties and am never going back. Long term (29+) days was a joke. I gave it a few months and completely gassed out. Not worth it in my opinion.

Take the 30,000ft view here and ask yourself who is in charge. What is private property and does that actually exist anymore? If its private property then who is to say what you can and cannot do with it insofar as renting it out, be it short term, long term or if you just want to leave it empty to collect dust. 

Each municipality makes these incremental steps as a way of slowly gaining that control, BUT must correspond with state constitution. It doesnt, and hasnt for a long time but my days of trying to waste my breath in efforts of getting others to not only see the errors in the law (cough, “codes”) but the overarching implications and control which some BS municipality will have over what they believe to be their “private property” by any definition i can find, is not. 

If there were such a definition, or such a law or any remnant of protection of private property, you would not be able to point out the dramatically disparate “allowances” between each county as they would all be bound to such a law. Unless of course there is simply no moral imperative left to do such a thing, be there a law or not. To cry out corruption is laughable at this point as corruption is the status quo. 

Much needed vacation this week. Wife and I are out to Sedona Arizona for the first time ever. We purchased a cosmetic fixer upper in August of last year and have been sprinting ever since to get it the way we want it. Replaced floors throughout, painted every interior space, new hardware everywhere. It has been a grind. Now we are on the 3rd day of our trip and its been an incredible experience, horseshoe bend, grand canyon, tuzigoot and of course the famous pink jeep tour all have not disappointed. I am astounded by the very obvious general wealth of folks around town here in Sedona. On another note, I am vigorously researching construction methods for the new house, and also chipping away at some concept drawings for it. I want it to be perfect as I have been yearning for this moment for over a decade.

cheers yall!

I'm finding a lot of interest from Craigslist - not sure if the candidates will be qualified but at least I'm getting interest! :)