All Forum Posts by: Chris Pike

@Bryan Clement Hi Bryan, I have a SFH we run like this in Downtown Phoenix and it works our great. We partnered with the landlord and were 100% transparent about what we intended to do. The home is not in an HOA and Phoenix is very AirBnB friendly in regards to local legislation, and I don’t hope that will be changing any time soon. We gross $50k annually with expenses being right around $24k. It is a great way to test your market and get started with a smaller investment than actually purchasing a property. The down side is you do not experience debt pay down, appreciation or tax benefits of actually owning the property which are some of the best parts of investing in RE. If you can find a property that cash flows strongly as a long term rental, but would cash flow even better as a short term rental I would jump all over it. As long as you are not over extending your self and the property cash flows, you should have no problem making it through the downturn and continue cash flowing until you find a good time to sell!

@Lisa Maturo Hi Lisa, I have met the owner of Neighborhood Ventures and he is also the owner of the top multifamily brokerage here in the Phoenix Metro. The brokerage is called ABI Multifamily. If you look into the brokerage you will see they absolutely crush it in the multifamily arena. Just based on their knowledge and experience with Phoenix multifamily I would say they are a pretty solid bet for a local crowdfunding platform. Although, I would make sure to do your own due diligence on each deal they offer and see if you feel the returns are realistic with the type of value add deals they are performing.

@Ben Leybovich Understood, thank you Ben!

@Ben Leybovich Not looking to place any units immediately. We are currently redeveloping 2-4 unit multifamily in Downtown Phoenix and having my girlfriend self manage as AirBnBs. Although, I have been opening up conversations with family members involved in the industry regarding pooling capital to get into small/mid sized reposition opportunities in Phoenix. Looking at 20-60 unit buildings. Want to start scouting out solid property managers early on in the process. Also, looking to expand my network of people who are doing similar projects in the area. Appreciate your time!

@Ben Leybovich and @Sam Grooms, just curious what your exit strategy is? Are you planning on holding for the foreseeable future once you complete the refi? Or are you planning on selling at some point in the near future after you reposition? Just trying to get a better understanding of how bigger players in my market are working their deals. Also, would you be open to sharing who you are using for a property manager? If not, I completely understand. Thanks for your help!

Hope everyone is having a great weekend!

Does anyone happen to have a referral for a quality cleaning crew who handles short term/AirBnB rentals in the Downtown Phoenix area?

All help is greatly appreciated.

Does anyone in the Phoenix area have recommendations on a quality cleaning company who handles short term rentals in Downtown Phoenix? Thanks for your help in advance!

George Mevawala do you have any recommendations for a cleaning company who handles vacation rentals in Phoenix?

Hi Amy,

I will purchase that claw foot tub from you if you end up deciding to get rid of it!

Just let me know.

541 E BELMONT AVE. PHOENIX, AZ 85020

Property Details:

Size: 1,261 sq.ft. (According to Owner)
Lot: 9,013 sqft
Bedroom: 3
Bathroom: 2
Built: 1947
Access: Appointment

SELLER IS LOOKING AT ALL REASONABLE OFFERS, BRING ME AN OFFER!

Huge opportunity for fix and flip in the ACTUAL Central Corridor. Homes in this neighborhood are easily selling around $500k with large homes on larger lots selling for as high as $800k - $1M! This is a prime neighborhood, with not many properties like this available.

This is not a wholesale deal. I have the property listed (CO-BROKE COMMISSION OF 3% AVAILABLE TO OTHER AGENTS), and it will be hitting the MLS once the current tenant vacates the property in the beginning of February. The Seller would be more than happy to sell now before the home hits the MLS.

Mid-century modern look/style on the exterior of the home, it will easy to get creative with the curb appeal.

Location would be ideal for addition of sq.ft. in order to easily maximize value.

DRIVE-BY ONLY AT THIS TIME AS TENANTS STILL CURRENTLY OCCUPY THE PROPERTY.

Please reach out to me directly with any questions or concerns.

Chris Pike

(480) 450-3983

[email protected]