All Forum Posts by: Daniella Lamis

@Bruce Woodruff lol- I AM all over the place! We have enough DP funds for 2 STRs and I am likely slipping down the rabbit hole in my research trying to narrow it down and diversify out of the gate. Not analysis paralysis but enjoying the process/adventure too much. 

Flagstaff is still on my radar - likely as a STR fully (not sure I am ready to be a room by room landlord for students).

and no, not really wanting vacation spots for ourselves- we will likely visit 1x/year so the investment and cash flow are more important to us. 

@Chad McMahan Admittedly, we have not given enough thought to Arizona markets. Not that I don't see the value but as a native to AZ, its been more fun looking at new areas. But I will look into Sedona and Munds for sure!

@Chris Levarek Thank you! You'd think we'd jump into AZ being residents, but its been more "fun" exploring options elsewhere. I will dive into N Arizona options for sure

@Shiloh Lundahl

Interesting concept- the tiny houses in Florence! and yes, I thought about Lakeside as well! 

@John Underwood

Part of our idea is to create an investment that also benefits us- we are paying for an apartment now (in this town) and likely will have more children attending there as well. It will be a pain, but so is writing a $900 check every month for 1 bedroom haha. 

@Bruce Woodruff

Exactly- I agree with you 100%. There are high risks for sure- I really appreciate the feedback!

@Bruce Woodruff

Thank you for the feedback! We live in the Phx area and most of the families we know send their kids to NAU or ASU- meaning I can be selective to whom we rent out to (the students). We would be adamant about the decor etc but know it will be challenging. 'We were thinking of 3+ bedrooms. 

As you know, Arizonans (especially those in the valley) love escaping the heat and visiting snow making the northern towns so popular! 

Hello! We are considering purchasing a home in a college town (where our daughter attends school) as a long term student rental but turn it into a STR during the summer and winter breaks. We would write this into the lease that the student's personal items be moved into the locked garage or that they move out 100% for the summer months. Most of my daughter's friends go home for these breaks anyway and most of them said they'd be open to these terms- especially to live in a nice home in a college town. We already pay $900 a month for her shared apartment and this college town (Flagstaff, AZ) is a good STR market with a lot of tourism in the summer and winter months.

Anything to consider other than the simple logistics of turning the rental from LT to ST? Thank you!

@Luke Carl

Suggestions on locations? Thx!

@John Underwood

Good question! if this were our second vacation home, I would likely look at the Carolinas, near water. I like historical cities, near water. But we are primarily looking at cash flow, and can use said cash to vacation where we want lol. IDK- should we be looking longer term, meaning this STR home will be part of the family for years?

As far as goals, we are looking for cash flow to eventually replace W2 jobs. We have a LTR (adding more) for equity.