All Forum Posts by: Account Closed

@Luke Carl thanks for the advice! I'll give that a shot.

BP Community - 

I recently went live with my short term rental in Phoenix, AZ. We're having issues finding a reliable and affordable cleaner. Does anyone have any recommendations on finding a cleaner and/or currently have a cleaner in the PHX market that you don't mind referring to me? 

Thanks in advance!

@Ashley Johnson my wife and I just purchased our first STR in Phoenix this week! The arbitrage/co-host route is our next plan of action so I'm very curious to see the feedback you get.

Hey BP Community!

I just recently purchased a property and have some concrete work and a pool I'd like to add. 

For the concrete, we've got a back yard with a slab that's uneven and honestly looks like it needs broken up and completely re-poured. We also have a small slab by the side door that needs ripped up and replaced with a few large pavers for a nice patio area.

For the pool, we're looking to add a small hot tub/pool combo. I've seen a few inspiration photos that sit partially above ground and appear to hold 8-10 people. We've got gas on the property so the cost to heat it in the winter months shouldn't be too bad.

All that being said, does anyone have someone in either trade that you've worked with and strongly recommend?

Thanks in advance!

@Brian G. what are your thoughts about a commercial homeowners insurance policy like proper.insure? The policy is about 2x the price of other regular policies, but I'm curious if you've seen the value or if you've found a better/cheaper solution?

Brian, this is FANTASTIC information. I’ll be looking into each item you mentioned. I sincerely appreciate the advice. 

Yes, near Papago Park. 

Ahh those are great things to keep in mind! Thanks for the recommendations, I’ll definitely try to find a way to incorporate that into the design. 

BP Community -

I'm happy to say I just purchased my first STR in Phoenix! It's right neat the airport and very centrally located between DT Phoenix, Old Town Scottsdale, and ASU in Tempe. The property is most definitely class A with high-end finishes. We have yet to furnish it and plan to renovate the back yard to make it a mini oasis for renters.

That being said, do you have any words of wisdom or things you really wish you would've done or known after you acquired your first STR? I've been compiling a list of to-do's and to-buy's and want to throw everything into a calendar to make sure I'm chipping away at this each day.

Thanks in advance!

BP Community - 

I'm a new investor and currently shopping for my first property in the Phoenix market. The goal for the first property is to make it a Short Term Rental. Based on the little experience I have, I'm starting to think that in order to maintain decent occupancy in the summer months I'm going to need to have a property with a pool. 

My question is, for any appraisers in the market, how much forced appreciation by adding a pool to a property in this market can I expect (in the event that I purchase a good deal on a property without a pool)? 

I'm aware that it won't be an even trade off, but I feel it will pay for itself after at most a few summers. That being said, I want to know how it will affect the value of the property when I eventually refi because the goal will be to get myself out of mortgage insurance after adding a pool (among other renovations).

Thanks in advance for sharing your expertise!

- Derek