All Forum Posts by: Jeff E.

@Eddie Antuna

I believe Scottsdale will continue to have demand for short term rentals and that if you choose a good property, don't overpay & manage it correctly you can make a decent return, but keep in mind the following:

1. Scottsdale is currently looking to regulate the industry more and they have a short term working group that is meeting every 3-4 weeks to try to implement more regulation.  The next meeting is this afternoon.    Here are some links to review:

https://www.scottsdaleaz.gov/c...

2. Property values have risen significantly in the Scottsdale area over the past year and there is also a lot of competition in the STR market in Scottsdale.

@Alex Welstad For North Scottsdale, just watch out for any properties in HOA's if you plan on using as an STR. Also, the city has a short term rental working group that is working on possible further regulation of STR's in Scottsdale, updates can be found at https://www.scottsdaleaz.gov/c...

@Account Closed   I only work/invest in the Scottsdale area.  Mainly zips 85260, 85251, 85254.

@Account Closed  Yes, I would definitely recommend joining.  The cost is minimal and it provides a lot of training opportunities with different subgroup meetings and good information on market statistics during it's monthly meetings.   I have mainly been doing the online meetings, but a lot of the subgroups are now moving to in person meetings so there will be some good networking opportunities.   Feel free to reach out to me , I am always looking to network.

Jeff E.  Investor/Licensed Realtor in AZ,  SA635219000

@Cody Nielsen To answer your question about areas of Tahoe I like, the restrictions on STR's in the South Tahoe area (google Measure T Lake Tahoe) and just my personal preference kept me concentrated in the West & North shore areas. When I was analyzing properties, I was looking at historical rental income for the properties since they were already used as STR's and adding in insurance, loan payments, property taxes, maint. etc. These were also single family homes directly on the lake, so you may have very different numbers on properties back from the lake or condos. The CA property taxes are a killer, for example the monthly property tax in CA on a 4M property is around $4,200/month, while in NV a similar priced property could be around 12K for the whole year. With 50% cash down, I was only calculating around 2% CoC ROI on some of the properties I was looking at.

@Cody Nielsen  I have been looking for properties in the Tahoe area also.  I have spoken with Dustin and he is very

knowledgeable.   I have also worked with Bill Dietz at Tahoe luxury properties www.tluxp.com who is more in the North West areas of the Tahoe.  Here is what I have found so far in my research:

-Seems like the California areas are more popular than the Nevada ones for rentals.  Property tax is extremely high on the CA side though, expect to pay about 1.25% of the cost of the property in yearly taxes and it is assessed on the new sale price immediately.  

-Some of the areas I like so far are Kings beach, Incline Village, & Tahoe City.  

-It has been real difficult for me to get the numbers to flow positive unless you are doing 75%-100% cash.  Some others may have different results as I have been looking mostly lakefront but can't get the numbers to work.  Bill also runs a property management company so he can provide some pretty good analysis of income for different areas and properties.   

Feel free to DM me with any questions.

Jeff E.