All Forum Posts by: Greg Klei

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $275,000

I purchased this property as a live in house hack where I rented out the other rooms to cover my mortgage. Over the following years, I completely renovated the inside and outside of the home to convert it into a short term rental. It is now been a cash flowing STR since 2022.

What made you interested in investing in this type of deal?

I come from a family of real estate investors, so my parents and grandfather always pushed for buying properties.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Remodeled the entire home

That's awesome, glad its doing well! I have a STR single family home in Old Town Scottsdale myself and same thing has no HOA, does great. Arizona is still quite oversaturated, unfortunately.

A majority of the apartment complexes near downtown wont allow short term rentals so be sure to check their HOA. Phoenix / Scottsdale has been a very saturated market for STRs.

Long term Ive been looking close at Mesa. Arizona State University has been putting a lot of money into their downtown area. Finding places that cash flow has been the tougher part lately!