All Forum Posts by: Jeff Murray

Hi Everyone,

Unfortunately due to a financial hiccup my money partner on a short term rental deal has had to back out last minute leaving me scrambling. It is a seller financed deal so things are moving along pretty quickly and if this might be something you are interested in reach out and I can discuss the deal with you. The investment amount is $112,550.00.

Jeff Murray

Thank you so much. 

Hey guys any leads on top notch cleaners for Mesa Arizona? Thanks for the help as always. 

Hey guys thank you for the feedback. They are existing STR and it seems that the house with the pool was preferred. After reviewing different homes the pool for the climate and the area is the way to go. We are moving forward with the home with the pool.

@Thomas Shepard I think you are right if the property already has it then fine but if it doesn't then like you said for the extra value, I do not think it pays off in the long run. 

@Carrie Matuga being Canadian our dollar does not take us very far in the U.S because of the exchange rate so we need to work to take our money farther. I did a lot of research and found a realtor who specialize in seller financing. From there we look at properties that offer this and start the negotiation process. Some sellers can negotiate more than others but so far so good. I'm always looking for J.V partners if you ever want to continue the conversation. 

@Account Closed yes that is correct Arizona is not exactly in my back yard however knowing the risk of hurricanes etc in the Florida regions I felt more comfortable heading in the other direction. I have been out there a few times and very much enjoyed myself. The long game is to retire out there and have a few properties when I get there.

Hi Everyone, Im not really a new member but new to it as an active real estate investor. I have been a property manager for 12 years in Atlantic Canada and now venturing into the investment world with JV partners using STR as our strategy in Arizona along with other states we find deals in.

Investment Info:

Single-family residence buy & hold investment in Paramus.

Purchase price: $615,000
Cash invested: $110,000

We are currently working on a turn key STR project with Seller financing. This home is turn key from a seller who has decided operating a STR is not for him. There is some improvements to be made to the back yard appeal. Also making sure we are keeping our nightly rate within the completion and improving the amenities offered in the home.

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

We were looking for turn key STR options in Arizona. We like the deal and like the area.

How did you find this deal and how did you negotiate it?

I have been working with a realtor who specialize in seller financing. We negotiated using comps in the area.

How did you finance this deal?

We are using seller financing.

How did you add value to the deal?

We are adding value by improving the grounds and also using our network to make sure the home is being advertised on all platforms.

What was the outcome?

Just completing negociations and looking to close in 30 days.

Lessons learned? Challenges?

So far it is never as easy as it looks.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes we are working with a local realtor.

Has anyone considered having a JV partner to handle the operational aspect of the STR. As some have mentioned owners always care more about the property than anyone else could. Having someone with some skin in the game has been a good option.